Anglo Pacific eyes 75% uplift in Kestrel revenues as Queensland ups coal royalty rate
The new rate is expected to take effect from 1 July 2022
Company
LON:ECOR
Ecora Royalties is building a portfolio of royalties aligned to decarbonisation and electrification. Copper is at the core of the portfolio, a vital component of the energy transition and the infrastructure required for technological innovation. Ecora is contributing to these trends through investing in projects that are extracting critical minerals whilst offering investors exposure to this thematic at the top line via the royalty model.
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The new rate is expected to take effect from 1 July 2022
The first quarter of 2022 generated over 50% of the total portfolio contribution realised during the entire 2021 period
Anglo Pacific and Quasar have been engaged in a legal dispute since 2016
Coking coal currently is at US$600/t, a level never seen before, said Anglo Pacific
Despite the mining sector's cyclical nature, the investment bank identified that its strategists and analysts believe can offer "attractive income characteristics as well as capital return growth"
Last week the company reported its highest-ever royalty income, for the final three months of 2021
"The board unanimously felt that Marc is ideally suited to continue the disciplined and ambitious growth path focussed on commodities that support a more sustainable world," said chairman Patrick Meier
“Importantly, both coking coal and cobalt prices have remained at recent record levels"
Coal and cobalt performed particularly well, setting the company up nicely for a strong fourth quarter
Proceeds from the sale will be used for further acquisitions
It also reported its interim results which showed that 53% of the group's portfolio contribution is now derived from non-coal revenue, up from 29% in the first half of 2020
She joins today, bringing a wealth of experience to the board
“While prices for our commodities were weaker in Q1 2021, they began to recover in Q2 2021,” said chief executive Julian Treger