Past year: ▲ 43%(3.82 – 6.03 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Sept 2016other● Neutral
FY2016 results media release: profit before non-regular items $5.0m, EBITDA $81.3m. Bengalla contributed 1.5 Mt and $21.3m EBITDA over five months. Newcastle spot price rose from US$51 to US$70/t. Repeats the annual report.
20 Sept 2016other● Neutral
Corporate governance statement and checklist lodged with the annual report. Administrative filing with no new business information.
20 Sept 2016investor presentation● Neutral
Full-year results slides repeating known figures: net loss $53.7m, profit before non-regular items $5.0m, EBITDA $81.3m. Bengalla cost $901m including $51.9m of mostly stamp duty. Priorities: Acland Stage 3 approval and construction.
20 Sept 2016annual report▼ Bad
FY2016 (to 31 July): revenue $531.5m; profit before non-regular items $5.0m, down 90%; net loss $53.7m after $58.7m of non-regular items. Final dividend 2c. Acland Stage 3 decision now expected by December 2016; reserves deplete in 2018 without it.
26 Aug 2016quarterly activities report▲ Good
Quarter to 31 July 2016: first full Bengalla quarter in line with expectations; sales up 76.7% to 2.4 Mt. Acland Land Court hearings finished in August. Bridgeport signed a binding deal with Beach Energy to buy Cooper Basin oil tenements, completion expected Q3 2016.
21 June 2016regulatory community update▲ Good
New Hope welcomes the Queensland Competition Authority's refusal to approve Queensland Rail's draft access undertaking. The QCA requires lower access charges until 2021 and a refund of over-recovered revenue. QR must resubmit by 16 August 2016.
1 June 2016director officer appointment● Neutral
Company Secretary Justin Hogg resigned after five years; lawyer Janelle Moody, formerly a McCullough Robertson partner, appointed from 31 May 2016. A routine administrative change.
30 May 2016quarterly activities report● Neutral
Quarter to 30 April 2016: Queensland saleable coal down 14.3% on mine sequencing, sales down 16% on delayed vessels. First two months of Bengalla added 576,000 t saleable. Oil 48,558 barrels. Acland Stage 3 Land Court hearing under way since 7 March.
30 May 2016other● Neutral
Administrative notice: 95,103 performance rights held by retired COO Bruce Denney lapsed, leaving 484,795 unlisted rights. No substantive impact.
25 May 2016other● Neutral
Administrative notice: a share sale facility for holders of 336 shares or fewer (under $500 at $1.49). 716 holders, 96,611 shares. Forms due 6 July 2016. No impact on the business.
22 Mar 2016half year report▼ Bad
Half-year to 31 January 2016: profit before non-regular items fell 56% to $15.0m on softer prices; net profit $2.7m versus a $23.1m loss a year earlier. Interim dividend cut to 2c from 4c. Bengalla cost $850.8m excluding costs.
22 Mar 2016other● Neutral
Half-year results media release: profit before non-regular items $15.0m (down from $34.2m), net profit $2.7m after $17.3m of oil and investment impairments, partly offset by $5.0m land access compensation. Interim dividend 2c. Repeats the half-year report.
22 Mar 2016investor presentation● Neutral
Slides repeating the half-year results already reported: profit before non-regular items $15.0m, net profit $2.7m, interim dividend 2c, cash and term deposits $1,018.2m. Notes Bengalla 40% effective 1 March 2016. No new announcements evident.
1 Mar 2016asset acquisition disposition▲ GoodMajor
New Hope completes the purchase of the 40% Bengalla interest from Rio Tinto, agreed at A$865m. The company expects an immediate positive contribution to operating and financial performance.
1 Mar 2016asset acquisition disposition● Neutral
Rio Tinto confirms completion of the Bengalla 40% sale to New Hope: A$865m, equal to US$616.7m at the spot rate used. Rio also notes a separate Mount Pleasant sale to MACH Energy. Mirrors New Hope's completion statement.
29 Feb 2016quarterly activities report● Neutral
Quarter to 31 January 2016: saleable coal 1.17 Mt, down 15.9%, on weather and sequencing; sales down 10%. Bridgeport bought the Moonie field for $3.3m and lifted output to 17,000 bbl a month. Bengalla due early March; Acland Land Court hearing starts 7 March.
8 Feb 2016asset acquisition disposition▲ Good
Bengalla purchase clears two key conditions: the other partners did not exercise pre-emption rights, and Rio's corporate restructure is done. A few conditions remain; completion expected 1 March 2016. Company expects an immediate positive contribution.
17 Dec 2015director officer appointment● Neutral
Tom Millner, CEO of BKI Investment Company and a director of Washington H Soul Pattinson, joins the board as a non-executive director, effective 16 December 2015. He shares a surname with Chairman Robert Millner.
19 Nov 2015agm notice● Neutral
AGM chairman's address slides, repeating FY2015 results and the October quarter update (saleable coal down 8.3%). Notes an operating profit for the first quarter, lower than a year earlier on weaker coal prices. No new announcements evident.
18 Nov 2015quarterly activities report● Neutral
Quarter to 31 October 2015: saleable coal 1.36 Mt, down 8.3%, on weather and mine issues; sales down 14.6%. Bengalla purchase noted. Bridgeport signed to buy Santos's Moonie/Cabawin and Alton oil fields. New Acland Stage 3 Land Court hearings began; recommendations due Q2 2016. COO Denney retiring.
30 Sept 2015asset acquisition disposition▲ GoodMajor
New Hope agrees to buy Rio Tinto's 40% of the Bengalla thermal coal mine (NSW Hunter Valley) for A$865m, answering its search for coal acquisitions. The mine produces about 8.6 Mtpa with about 218 Mt marketable reserves (100% basis). Subject to partners' pre-emption rights; completion expected Q1 2016.
30 Sept 2015asset acquisition disposition● Neutral
Rio Tinto's side of the deal: it has a binding agreement to sell its 40% Bengalla interest to New Hope for A$865m (US$606m). Subject to conditions including other partners' pre-emption rights; closing expected in the first quarter of 2016.
22 Sept 2015annual report▼ BadMajor
FY2015: loss of $21.8m versus $58.4m profit in FY2014, after $73.6m of non-regular items including oil asset and goodwill impairments. Profit before non-regular items rose 24.7% to $51.7m. Final dividend 2.5c plus special 3.5c. Acland reserves deplete in 2018 without expansion.
22 Sept 2015other● Neutral
FY2015 results media release: loss of $21.8m after $73.6m of impairments and other non-regular items, but profit before those items up 25% to $51.7m. Final 2.5c plus special 3.5c dividends. Cash and term deposits $1,065.3m; management is reviewing coal acquisitions. Repeats the annual report.
22 Sept 2015investor presentation● Neutral
Full-year results presentation repeating the $51.7m profit before non-regular items, $21.8m net loss and 6c of final and special dividends. Cost of sales fell 17.1% ($57.7m). Says New Hope is positioned for growth opportunities 'at the right time and for the right price'.
22 Sept 2015other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, dated 21 September 2015. Administrative, with no new financial or operational information.
27 Aug 2015quarterly activities report● Neutral
Quarter to 31 July 2015: saleable coal 1.45 Mt, down 3.6%, and sales down 18% on less traded coal. New Acland Stage 3 public notification ended. Bridgeport signed a term sheet to farm out Cooper Basin permits; Cuisinier wells add 90 bopd.
3 Aug 2015other● Neutral
Administrative notice that the Trading in Company Securities Policy was revised, effective 1 August 2015, following updated ASX guidance. No operational or financial substance.
28 May 2015quarterly activities report● Neutral
Quarter to 30 April 2015: saleable coal 1.42 Mt, slightly down, with nine-month sales up 2.8%. Remaining 49% of the North Surat deposits acquired. New Acland Stage 3 public notification began. Cash is equivalent to $1.31 per share with no material debt.
22 Apr 2015director officer appointment● Neutral
Todd Barlow, CEO of Washington H Soul Pattinson (NHC's roughly 60% shareholder), is appointed a non-executive director from 22 April 2015. He adds corporate finance and coal-sector experience to the board.
