StockMarketWire.com - Natural resources royalty and streaming company Anglo Pacific hailed 'record' portfolio contribution from its royalty and streaming assets in the third quarter of the year following higher coal prices.

For the period 1 July to 25 October 2021, portfolio contribution was of $23.6 million was 180% higher than Q3 20, and the highest individual quarter in the company's history.

Results benefitted from 'very high coking coal prices being captured at Kestrel during the third quarter, resulting in revenue of $11.7 million,' the company said.

Current coking coal spot prices were US$390 per tonne, significantly ahead of the average for Q3 21, suggesting an even 'stronger quarter to come in Q4,' it added.

Cobalt prices were also higher during the third quarter, resulting in a net contribution of $5.2 million from Voisey's Bay.

'We remain positive going into Q4 with the strong commodity fundamentals seen recently, looking broadly sustainable as well as strong volume performance expected from the portfolio.'


Story provided by StockMarketWire.com