Bankside assists ATH listing on AIM

ATH Resources, the UK’s second largest opencast coal miner, is using Leeds-based agency Bankside Consultants for its planned listing on AIM, the alternative investment market.

Bankside started advising ATH on the account earlier this year but kicked off the City and business press campaign with the announcement to float earlier this week.

Bankside northern region head Sarah Hollins is leading the account and reports to ATH chief executive Tom Allchurch.

ATH hopes to raise £12.5m from the flotation, which the company will use to fund further expansion of its operations in Scotland.

Existing operational sites include Skares Road and Garleffan in the East Ayrshire region of Scotland.

Seymour Pierce is the nominated broker and adviser to ATH.

‘Admission to AIM will enable us to continue to grow the business organically, drawing on the proven track record and experience of management in identifying high-yielding coal-producing sites,’ said Allchurch.

ATH has two additional sites in France, while ATH subsidiary Société des Ressources Minieres du Massif Central is buying another two concessions, which it plans to develop into separate opencast coal mines.

The company has said that coal mining projects in Scotland and France could yield an aggregate of 11.5 million tonnes of coal .

ATH’s existing sites in Scotland produce 1.6 million tonnes of coal a year.

The company has pre-sold the majority of this coal to the electricity supply industry.

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