ATH Resources up 12% on contract win
ATH Resources, the Scotland-focused coal mining company, says it has "successfully renegotiated" the terms of one of its key contracts.
ATH Resources, the Scotland-focused coal mining company, says it has "successfully renegotiated" the terms of one of its key contracts.
Without disclosing the other party, ATH says "there will be an increase in the selling price for higher quality coal which will enhance both earnings and cash".
The new agreement will kick in on 2 January 2012.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
ATH, which is listed on the AIM exchange, operates four surface mines in Scotland and supplies coal to four of the UK's main electricity companies.
News of the deal has seen ATH shares climb 12% in morning trading to hit 38p. In the year to date, however, the stock is down 46%.
BS
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Where are ISA savers and investors putting their money?
With less than three months until the end of the tax year, where are ISA savers and investors putting their money? We look at the latest ISA trends.
By Katie Williams Published
-
More than £53 billion held in fixed-rate cash ISAs will mature by April - where should savers move their money?
If your fixed-rate cash ISA is maturing soon, we look at the options available to you
By Ruth Emery Published