An anonymous director reports

ANGLO PACIFIC GROUP PLC: RESULTS FOR THE YEAR ENDED DECEMBER 31, 2014

Anglo Pacific Group PLC has released full-year results for the year ended Dec. 31, 2014, and has published its audited 2014 annual report and accounts, from which the following condensed consolidated financial statements have been extracted. Both are available on the group's website and on SEDAR.

Highlights:

• Six producing royalties in the portfolio, including Narrabri, compared with three producing royalties at the start of 2014;
• Agreement reached with Kestrel Coal Pty. Ltd., a subsidiary of Rio Tinto, to receive quarterly forecast information from August, 2014; this provides greater visibility on the expected growth in royalty income from Kestrel;
• Portfolio diversification achieved through the acquisition of Maracas, a producing royalty in Brazil, in June, 2014;
• Royalty income of 3.5 million pounds sterling (2013: 14.7 million pounds sterling);
• Impacted by majority of mining at Kestrel occurring outside of Anglo Pacific-owned land;
• Loss for the year of 47.6 million pounds sterling (2013: 42.5 million pounds sterling) following impairment charges of 31.5 million pounds sterling (2013: 34.6 million pounds sterling);
• Adjusted loss of 2.8 million pounds sterling (2013: profit of 9.2 million pounds sterling), which excludes non-cash valuation and impairment items;
• Net cash of 8.7 million pounds sterling generated from non-core asset disposals in 2014, lessening the impact of lower royalty income;
• Cash balance of 8.8 million pounds sterling as at Dec. 31, 2014 (15.7 million pounds sterling as at Dec. 31, 2013);
• Additional mining and financial expertise added to the board throughout 2014;
• Recommended final dividend of four pence per share; total dividend for 2014 of 8.45 pence (2013: 10.2 pence). Longer-term progressive dividend policy of at least 65 per cent of adjusted earnings. Expectation in the medium term is a minimum total of eight pence per share dividend per annum