Anglo Pacific a mining investor is a company I have held for about three weeks now and I have only just got around to posting about its excelent forward potential.
What I was really looking for was a play on coking coal as China just cant get enough of the stuff to build up its industrial infrastructure, and the World spot prices have risen drammaticaly which will lead to increased end profits for coal mining companies and coal mining investment companies.

I looked at a few options and this one easily came out on top not only that but it has other mining interests in its portfolio as you will see.

From last results year ending 31st DEC 2003.

HIGHLIGHTS

• Proposed Final Dividend of 1.3p per share (2002:- 0.65p)

• Total Dividends for the year increase by 49% to 2.6p (2002:-1.75p)

• Australian Coal Royalty Independent Valuation increases by 54% to 44.3
million

• Cash and Strategic Investments increases by 64% to 11.2 million

• Earnings of 3.7p per share (2002:- 4.09p) due to reduced coal royalties
on account of mining more on Crown Land than Private Ground

• Much stronger Royalty Flows from Private Ground expected in 2004

• Encouraging outlook for Coking Coal prices and Production Rates due to
Chinese, Indian and Far East demand

• Increased holding in substantial Canadian Coal Deposits in British
Columbia which are currently included in the accounts at negligible value

• Canadian Coal Bed Methane opportunity in British Columbia

• 40 million of Unused Tax Losses

Chairmens Comments.

Our coal royalty interests are independently valued at 44.3 million as of
December 2003 which is 15.6 million more than the valuation at 31st December
2002.

During the year your Company has participated in financings for a number of
strategic mining opportunities. Our mining operational interests and quoted
stakes in gold, diamond and PGM projects were valued at 31st December 2003 at
9.6 million. This included an unrealised profit over book value of 3.5 million
in addition to the realised gains referred to earlier. The Company also had cash
of 1.6 million at 31st December 2003.

The Mining Investments.

COAL ENERGY INTERESTS

COAL ROYALTIES

In Australia, coal royalty receipts from the Kestrel and Crinum mines, operated
by Rio Tinto and BHP Billiton respectively, were 3,376,000 (2002: 5,802,000).
The Company has increased its holding in its Canadian coal deposits in British
Columbia to 65% of the Groundhog and Peace River projects. The outlook for the
potential joint venture development of these resources has further improved due
to the increasing demand for coal products from China, Japan and the Far East as
well as North American domestic demand. The Groundhog and Peace River projects
are reflected in the accounts at negligible value.

COAL BED METHANE

The Company owns a circa 15% interest in the Merritt coal and coal bed methane
project in British Columbia. With coal bed gas prices having risen sharply
during 2003 joint venture discussions continue with potential partners to
progress this project.

GOLD AND PLATINUM GROUP METALS

At 31st December 2003 the Company had investments at a market value of 9.6
million in gold, diamond and platinum projects based mostly in North America and
Australia.

The Company's strategy continues to be to acquire projects that expect to yield
dividend and royalty cashflow as well as substantial share appreciation in the
next few years. The two largest strategic mining stakes of the Company are in
Kirkland Lake Gold and Platinum Australia .

• Kirkland Lake Gold is now producing gold at its Macassa mine in Northern
Ontario . Its higher market rating has resulted in a substantial capital
gain for the Company on its holding. Kirkland Lake Gold is still
discovering gold at grades in excess of 16 grams per ton and sometimes at
much higher grades and hopes to further increase gold production in 2004.
Other strategic holdings include Aquiline Resources, Starfield Resources and
Muscox Minerals.

TALC

The Board continues to look for a joint venture funding partner for the
Company's Shetland talc interests. The company intends to jointly mine this
deposit with a view to establishing a royalty flow in due course.

OUTLOOK

The outlook for coking coal prices remains extremely encouraging and, with
production at the two mines in Australia expected to be at record levels and
mostly on the private ground, the Board expects much stronger coal royalties
this year. Furthermore current spot prices are well ahead of this year's fixed
contract prices which themselves are over 25% up on the previous year.

With the weakness of the US dollar and the current demand for metals and energy
fuels worldwide driven by Chinese, Indian and Far Eastern demand, the Board is
optimistic about the opportunities for its gold, diamond, base metal and PGM
interests, as well as for the substantial coal and coal gas projects that the
Company has in Canada.

Website www.anglopacificgroup.com

I think this company is a medium to long term investment and if you are interested please DYOR and you are responsible for your buying and selling timing actions.



cheers GF.

Yup lovely.

cheers GF.

26/05/04 10:59 Result of AGM PRNW

Final dividend of 1.3p per share

Company to make one or more market purchases of its own shares.

BUT what does the following mean?
Allotment for cash of new equity shares or from treasury.

On the move at last!

The buyers are back.

Yup nice move up today.

cheers GF.

Another shift up today. I can't see the reason for it. No direct or indirect mention in the press. Anyone got an idea?

Increasing recognition of its potential I suppose.

4.8% UP is ok by me.

UP again today.

Anyone checked out the price of Coking Coal on the World Markets?, just wonder if this as anything to do with the rises over the last few days.

cheers GF.

Good point GF

Got any good links for it?

www.minesite.com, might be on there. Will try and find out.

cheers GF.

Good rise again,backed by volume. I think an announcement/trading update is on the way. Somebody outthere knows something. There is no reason for the strong performance this week. Hopefully the weekend press will highlight APF.

A positive announcement woulde be just fine profitmaker.

cheers GF.

I paticulary like this about this one, taken from last accounts..................

Increased holding in substantial Canadian Coal Deposits in British
Columbia which are currently included in the accounts at negligible value

NICE, assets there in the accounts which are way undervalued.

cheers GF.

Thanks GF, got this one on my watchlist and will consider more carefully when I free up some funds. Cheers. D

Glad to be of help dandu71.

cheers GF.

Thanks for that info GF.

I wonder why those assets were undervalued?

If I knew why then I could be on the lookout for a similar situation elsewhere.

Nice profit, hoping for more.

Up again so far today :-)

Price of coal going up in one of todays sunday rags bodes well for this one.

cheers GF.

Ticked up this afternoon. Dont forget according to T Winnifrith coal is surging up. We have as shareholders way undervalued assets. Could earn us a real nice return this one.

cheers GF.

I'm looking forward to the half year results which are due in Sept. They will move on those if not before. I think APF can reach 1 by 31st Dec. They have underplayed their prospects but you can't hide profits forever.

Spot on profitmaker. Think of all those lovely hidden assets being exposed.

Black gold is the name of the game.

cheers GF.