Full Year Results for the year ended 28 February 2010
08 July 2010
Strategic Natural Resources (AIM:SNRP), the explorer and producer of coal assets in South Africa, announces its audited full year results for the year ended 28 February 2010.
Highlights:
- Focus on extending the prospecting rights area under control and expanding commercial operations for export
- The Group ended the year with 185,000 ha of prospecting licenses; five times more than last year
- An export feasibility study has been commissioned
- The Competent Persons Report, including new bore holes, is being updated
- Short and medium term focus on local steam market and exports
- First trial burner delivered and installed; the burner enables existing boilers to burn SNR’s coal
Richard Latham, Chairman, said, “We have spent the year concentrating on developing the Company by extending the prospecting rights under our control and expanding market applications for our products. Although we made a loss of £0.3m, this had been expected. I am confident that the Company is pursuing the right strategy to unlock the potential of SNR.”
For further information, please contact:
Strategic Natural Resources plc
David Nel, Chief Executive Officer
+27 (0) 41 374 0842
Don Nicolson, Deputy Chairman
+44 (0) 77 4844 2813
Nominated Adviser and Joint Broker - Allenby Capital Limited
Nick Naylor / Alex Price / James Reeve
+44 (0) 20 3328 5656
Joint Broker - SP Angel Corporate Finance Limited
Emin Eyi / Tercel Moore
+44 (0) 207 647 9646
FTI Consulting
Ben Brewerton / Georgia Mann
+44 (0)207 831 3113