ATH Resources plc
ATH Resources is an AIM-listed operator of surface coal mines and has mines in production in East Ayrshire, Dumfries and Galloway and Fife. The Company is one of the largest producers of coal in the UK producing 2 million tonnes per annum. Coal was used to generate 36 per cent of the UKs electricity in 2008 and the Company holds coal supply contracts with three of the UK's main electricity generating companies. The Group commenced operations in 1998 when it acquired the rights to operate (and subsequently acquire) the Skares Road mine. The Garleffan mine was acquired in November 2003 and ATH Resources became a public company in June 2004 when it listed on the Alternative Investment Market (AIM). In June 2005 the Group funded two new surface sites, Grievehill and Glenmuckloch in Scotland for 18 million by way of an Open Offer to shareholders. The acquisition increased the Group's coal reserve base by 160% and provided greater diversity to the business.
In May 2006 the Group acquired Doncaster-based A Ogden & Sons Limited a successful coal recovery, land remediation and regeneration business with a particular focus on colliery spoil heap reclamation projects. In July 2010, the Group sold the assets of ATH Regeneration Ltd, the proceeds of which could total some £17m over a seven year period comprising £6.5m in cash on completion plus royalties. The assets were sold to RecyCoal Ltd, a newly formed company that is funded by a substantial investment fund and its partners and has amongst its shareholders Tom Allchurch and Steven Beaumont, who at that time were the Group's Chief Executive and Finance Director respectively. In October 2006, following a successful planning application the Group commenced work on its new Laigh Glenmuir surface mine in East Ayrshire and obtained further consent to extract 800kt from an extension into Duncanziemere land in June 2010. Planning permission was also granted to extract up to 4 million tonnes of coal from the company's Netherton site near Cumnock, East Ayrshire in June 2010. This site is located close to the company's Skares Mine and work is due to start in the Autumn and will ultimately employ up to 110 personnel directly. In addition to its operating mines, the Group also has a number of other coal mining projects in Scotland and two through its French subsidiary, SRMMC including a series of six existing coal concessions in south-central France, covering an area of 36km, 2 with an estimated resource of approximately 4.5 million tonnes of recoverable coal.
ATH Resources plc
Aardvark House, Sidings Court
South Yorkshire, England, UK DN45NU