ATH Resources, a major UK coal producer, has successfully renegotiated the terms of a second legacy contract, following the one agreed in December.
Under the new terms of the contract, effective from January 2nd 2012, there will be an increase in the selling price per tonne, in consideration for additional options being granted over future coal supply beyond the end of the current contract. This increase should assist in alleviating the pressure on the group's margins being caused by the recent fall in the price of coal. The third and final legacy contract will be fulfilled at the end of March 2012. Shares gained 7.69% to 35.00p.
Leyshon Resources says it knows of no reason for the recent rise in the company's share price on the Australian Stock Exchange, but it thinks recent speculation as to the outcome of negotions in relation to a Professional Regulation Commission entity that holds an exploration licence over a thermal coal project in the Western Chinese province of Xinjiang may be behind it. Shares were up 16.36% to 16.00p.
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Active Energy has reported that deliveries at the recently acquired Active Energy Ukraine are in-line with expectations and the company expects total revenue from the initial contract of 80,000 tonnes per year to be around £3m for the 12 months of 2012. Executive Chairman Gavin Little said: "We have gained access to natural resources and the chance to fulfil orders without commitment to large amounts of working capital and fixed costs. We are learning as we go but what is clear is that feedstock is in good supply and customer demand is there." Shares rose 33.33% to 2.50p.
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