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ATH Resources

  • BY: Andrew Hore |
  • POSTED: 14/06/2012 |

Shares in coal miner ATH Resources nearly halved when it warned that falling coal prices will hit its figures and it is in talks with its banks.

Coal prices have fallen by 28% since the start of ATH’s financial year in October 2011 and the trend continues to be downwards. ATH has entered into contracts at higher prices but production problems and reduced demand for premium products has offset these benefits.

New sites will be delayed and sales volumes are likely to be no more than 1.6m tonnes.

On top of the coal prices falling, ATH has been told that it will have to buy £1.1m of Carbon Credits for each of the next two years. This cash would be reclaimable if an appeal about the scheme is successful.

At 5p a share, ATH is valued at £2m.

The interims will be published before the end of June.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMay2012_32.pdf

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