Anglo Pacific Group PLC (“Anglo Pacific” or the “Company”) (APF.L)(APY.TO) is pleased to announce that at the Annual General Meeting of the Company held on 27 May 2020 (“AGM”) all resolutions were duly passed by a show of hands. Resolutions 15 to 18 were passed as special resolutions.
Following today’s AGM the Chief Executive Officer and Chief Financial Officer gave a short presentation followed by a Q&A session with the Board for shareholders – a replay of this webcast will be available on the Company’s website.
Full details of the proxy voting can also be found on the Company’s website.
COVID-19 Update
·Business as usual for Anglo Pacific with all staff members continuing to work remotely and investment opportunities being pursued
·Kestrel operations are continuing, and social distancing measures have not impacted productivity or the ability to export product
·IOC has temporarily adjusted production to meet increased demand for 65% Fe concentrate in response to a slowdown in demand for pellets
·After a two-week shutdown in early April, EVBC has resumed full production
·McClean Lake is currently on care and maintenance and is working to determine a restart date. The Group received a full Q1 2020 contribution and expects to received a reduced Q2 2020 contribution from McClean Lake, which accounted for approximately 6% of 2019 portfolio contribution
·Operations underlying our Maracás Menchen and Mantos Blancos royalties in Brazil and Chile continue as usual
·The impact on commodity prices underpinning the Group’s revenues has been mixed year to date, although most have started recovering since the levels seen in February/March
About the Company
Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Company’s strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.
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