There are only eight coracle licences for the River Towy
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A coracle fisherman hopes a charter signed by Elizabeth I will mean he can carry on the tradition at Carmarthen.
Dai Rees' family has fished the River Towy for generations but he has lost out after licence numbers were capped.
He says an ancient charter passed down through his mother's family, allows him to fish any stretch of water in the UK.
The Environment Agency said it was worried over salmon and trout stocks and was looking to safeguard fishing for those already using the river.
The agency said only eight out of 12 licences had been applied for in recent years and it had decided to cap the numbers to preserve stocks.
It said Mr Rees had lost out because he had not used his licence enough.
But Mr Rees, who lives in Llanstephan, says he will invoke the 400-year-old charter to carry on.
He claims it was awarded to his mother's family, who were fishermen in Bosham, near Chichester, for their help in preventing the Great Plague reaching Chichester.
He claims it has never been revoked and gives him the right to fish any river in the UK without a licence.
"The charter was given to five families - my original blood family was one of them," he said.
"The charter gave them the right to fish without paying - it's a lovely thing - it's an historical document.
"All indications are its valid. Experts will have to read into it but we know ourselves it allows us to fish anywhere in realm.
"I'm not saying modern fishing using engines, but I think the coracle actually suits it because we are using the same power now as they used 1,000 years ago."
The coracle fishing season runs from 1 March to the end of July but Mr Rees said in a good year conditions only allowed about 40 days fishing and on a good night he would catch around 12 salmon.
'Protect'
He said he was determined to carry on.
"The history of the coracle in my family goes back generations - we've traced it to the 1600s," he said.
"We applied for our licences as per normal but we were then told there was a net limitation order.
"It's a matter of great pride to hold a licence and when you take that away it's taking the pride of the family away."
Steve Barnard, fisheries strategy and policy officer for Environment Agency Wales, said: "We have a duty to maintain and protect fish stocks across Wales.
"Salmon and sea trout are suffering at moment and we have a duty to ensure nunbers caught, either by rod or net, are limited," he added.
"Historically on the Towy we have had 12 licences, but in recent years only eight are been taken up. If there's a sudden increase in fishing it could damage those stocks.
"We need to safeguard stocks for those fishing at the moment and ensure the numbers of licences are sustainable. If stocks increase in the future, we can reconsider."
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