ATH Resources Plc

[macca1]

Just been looking on Durham city website and ATH Resources Plc are planning 2 x surface mines near durham anyone know out both just a couple of miles from me door step

[IBH]

There is information on the Durham County Council website about the sites (Pittington North, Pittington South & Eldon Blue House) being promoted by ATH Resources:
http://durhamcc-consult.limehouse.co.uk/portal/planning/cdp_ce/new_sites?pointId=1289990794127#section-1289990794127

ATH are currently experiencing difficult trading conditions- coal selling prices, high gas oil prices and lower than expected production from their mines, has led the company to issues several profit warnings and to announce:
[quote]“The immediate focus of the board is to secure the support of all stakeholders to a refinancing plan that concentrates on coal production from existing sites and extensions, with capital expenditure in respect of new site development kept to a minimum[/quote]
http://www.yorkshirepost.co.uk/business/business-news/ath-resources-seeks-investment-in-mines-1-4995964

[SRB]

They've just had permission granted for another site in Dumfries & Galloway, Rigg North, right near the current Glenmuckloch site.

When i was with them there was talk of a couple of jobs in the North East, glad to see them getting closer to reality.

Despite hard trading they deserve to pull through and survive, fingers crossed for them.

SRB

[tctractors]

Stuart, was that you the other day in the Long Marsden scrap yard (Simms Metals) they have a couple of older shovels limping about that might match the badge on your van, I keep a little Army of small Dumpers (6) going there, they cart about that mountain of rubbery stuff, it might be light material but it blocks up the rads' by the hour, also bits get around the hand brake rotor causing a good flame up.
tctractors

[SRB]

If it was last week it wasnt me mr TC! Was another member of the flying squad down there, i was down there t'other week looking at a drive fault on one of the auld gals.

I know what you mean about the rads down there, trying to keep em clear and air flowing through them is nearly a full time job!

SB

PS: If ever i find my way down that way on, or in Honeybourne, you'll know its me as i wear a false nose and comedy glasses to avoid being recognised as i encroach on your "turf"

SB

[padster]

Ath are now up for sale and are in a bad way , falling coal prices and rising oil and gas are denting their profit margins. Scottish coal also looking to downsize operations with alot of operators bring payed off. Not looking good for the industry at the moment.

[nick lamb]

they took delivery of a new Kommie receantly and it's just been boxed back up and sent to Angola instead due to non payment.

[Ross]

Wooo that's like a mile from my home town.

100% cannot see it happen even if it had bars of gold in the ground.

To many posh residential property's local to the proposal.

[macca1]

the farmer whos land its starting on ross told me its passed he sud know as its his land lol

[nick lamb]

i think they signed up to a long term price a few years back.It was good then but bad now due to escalating costs.They are in big trouble but might find a buyer.
We still need plenty of coal yet....