Update on option to lease an anthracite property (1779V)
January 09 2012 - 1:00AM
UK Regulatory
TIDMATC
RNS Number : 1779V
Atlantic Coal PLC
09 January 2012
Atlantic Coal plc/Index: AIM/Epic: ATC/Sector: Mining
US Index: OTCQX/ Symbol: ATCLY
9 January 2012
Atlantic Coal plc ("Atlantic Coal" or the "Company")
Update on option to lease a 410 acre Pennsylvanian anthracite
mining property
Atlantic Coal plc, the AIM listed open cast coal production and
processing company with activities in Pennsylvania, USA, is pleased
to announce that the Board of Reading Anthracite Company ("RAC")
has approved the lease option agreement (the "Lease Option") over
the fully permitted 410 acre Pott & Bannon anthracite mining
property in New Castle Township, Schuylkill County, Pennsylvania
(the "Property"). As a result the US$250,000 payment made to RAC in
order to secure its entry into the Lease Option has been released
to RAC unconditionally.
Additionally Atlantic Coal announces that as part of the due
diligence process it has appointed John T. Boyd & Company, a
qualified person within the meaning of the AIM Rules for Companies,
to confirm the resource information provided to the Company,
further details of which are contained in the Company's
announcement made on 3 January 2012. The Company intends to submit
the permit transfer application shortly and further updates
regarding the Lease Option will be made at the appropriate
time.
**ENDS**
For further information on the Company, visit:
www.atlanticcoal.com or contact:
Steve Best Atlantic Coal plc Tel: 020 3328 5670
Nick Naylor Allenby Capital Limited Tel: 020 3328 5656
Alex Price Allenby Capital Limited Tel: 020 3328 5656
Peter Rose Fox-Davies Capital Limited Tel: 020 3463 5030
Simon Leathers Fox-Davies Capital Limited Tel: 020 3463 5010
Hugo de Salis St Brides Media & Finance Tel: 020 7236 1177
Limited
Elisabeth Cowell St Brides Media & Finance Tel: 020 7236 1177
Limited
Richard E. Cooper Cooper Global Communications Tel: +1 (212) 209
7360
Jennifer K. Cooper Global Communications Tel: +1 (212) 209
Zimmons 7360
This information is provided by RNS
The company news service from the London Stock Exchange
END
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