19 July 2011 – trading update
An update has confirmed that expectations of trading performance for the full year are in line with the update given in the interims last month. Progress in opening up Duncanziemere in East Ayrshire is on schedule and excavations are due to commence early next month. Volumes of heat affected coal at Netherton have also declined as operations progress away from the initial excavation area. ATH has identified a suitable market for the majority of the heat affected coal encountered.
The application for an extension at the Muir Dean site in Fife is due before Fife Planning Committee in autumn 2011. The result of this application will be relayed to the market in due course. In isolation the update is fairly uninspiring but it should be remembered that the share price still languishes at historic low levels. BUY.