Hi there Please find attached Fox-Davies flash note which gives Atlantic Coal (anthracite producer operating in Pennsylvania USA) a BUY rating with a price target of 1.1p on the back of Atlantic Coals news that it has signed an option to acquire a 158 acre property within close proximity of its current project, the Stockton Colliery having recently raised �12m.

The Board believes that the asset could contain up to 4.7Mt of recoverable coal and a potential 112% increase on the existing Proven Reserve at Atlantics Stockton Colliery.

Due diligence is currently being conducted. Atlantic is currently trading at 0.68p. Fox-Davies analyst Peter Rose said: "We will not remodel the company until after the due diligence has been completed and we can confidently add any new resources to the model.

We will also have a clearer idea of estimated production rates, recoveries, CAPEX and OPEX for the target mine.

But, assuming that the due diligence is positive, we see this purchase as a very positive result for Atlantic Coal." Kind regards Lizzie
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