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ATH Resources

Founded in 1998, ATH Resources plc (ATH) is an AIM listed coal production company operating five surface coal mines and a regeneration division. ATH is the third largest producer of coal in the United Kingdom, producing two million tonnes of coal for the year to 28 September 2008 and currently has reserves totalling 8.2 million tonnes.

Interim results

Solid results reported, with sales up 9%

Further growth seen in 2009, and long term demand for Steaming Coal resilient due to power generation needs

Historic yield of 9% and forward PER of under 4x looks attractive

Publication Date:
December 11 2008