Past year: ▲ 43%(3.82 – 6.03 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Mar 2007half year report● Neutral
Media release repeats the half-year result: profit $40.1 million, Acland Stage 2 done early and under budget at $59 million. Acland resources are 791 million tonnes; Tarong decides by 30 June. Arrow stake (18.56%, cost $64.8 million) shows a $58 million unrealised gain. Second-half profit is expected to be lower.
5 Oct 2006investor presentation● Neutral
Analyst briefing repeats the annual results and covers exploration, Arrow (about 18.4% held, $48 million invested) and the Tarong option, decided by 30 June 2007. If taken up, Acland output would rise to 8.7 million tonnes a year.
26 Sept 2006annual report▲ Good
Year to July 2006 profit from continuing operations rose 29.3% to $68.7 million. Final dividend is 2.5 cents plus a special 4.5 cents. Exploration spending rose 115% to $9.0 million; the prior year included a large gain on selling the overseas operations.
26 Sept 2006other▲ Good
Media release repeats the annual result: profit $68.7 million, dividends 2.5 cents plus 4.5 cents special. Notes Arrow stake at 18.85%, Arrow board seat for David Williamson, and Saraji East inferred coking coal resource of 452 million tonnes.
26 July 2006asset acquisition disposition● NeutralMajor
New Hope bought a 19.9% stake in coal seam gas producer Arrow Energy from Macquarie Bank for $48.5 million cash, becoming its largest shareholder. This diversifies the group beyond coal; it seeks board representation.
14 June 2006material agreement▲ GoodMajor
Tarong Energy was granted an option to buy 5.7 million tonnes a year from New Acland for 25 years from 2011. It depends on proving enough coal, ACCC and tax clearance, and Tarong choosing New Acland by 30 June 2007.
30 May 2006resource reserve update▲ GoodMajor
Quarterly report with an updated coal resource statement as at 1 May 2006: about 1,349 million tonnes in total, with recoverable reserves of 126 million tonnes. Lenton was upgraded; Sedgman will build the Acland Stage 2 plant. Nine-month coal sold rose 10%.
25 May 2006director officer appointment● Neutral
Bill Grant, former South Bank Corporation CEO, joins as non-executive director and independent Audit Committee member. This appears aimed at the Audit Committee breach flagged in February (inference).
11 Apr 2006investor presentation● Neutral
Broker presentation repeats the half-year result and outlines Acland Stage II expansion and Central Queensland coking coal exploration at Lenton and Saraji East. Cash of over $400 million is earmarked for growth; Soul Pattinson holds 61.6%.
29 Mar 2006half year report▲ Good
Half-year profit from Australian operations rose 79.9% to $40.3 million on revenue of $135.4 million. Interim dividend is 2.0 cents, down from 2.75 cents. Overseas operations were sold in June 2005, so the prior-year comparison is distorted.
29 Mar 2006other▲ Good
Media release repeats the half-year result: profit $40.3 million, cash $412 million after $180 million returned to shareholders. It adds that negotiations began to sell the 33.3% stake in woodchip exporter Queensland Commodity Exports after a firm offer.
24 Feb 2006listing compliance notice▼ Bad
New Hope disclosed it breaches ASX Listing Rule 12.7 on the composition of its Audit Committee and aims to fix this by 26 May 2006.
