Past year: ▲ 43%(3.82 – 6.03 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Oct 2024security holder rights change● Neutral
Convertible note conversion price adjusted from A$6.63 to A$6.5468, effective 7 October 2024, because of the 22c dividend. Routine mechanical adjustment under the note terms; no new money or change to the A$300m notes.
4 Oct 2024regulatory community update▲ Good
The Queensland Conservation Council withdrew its criminal complaint over historical West Pit mining at New Acland. The Magistrates Court dismissed it, discharged New Acland and ordered costs against the council. This resolves one of the two open New Acland legal challenges.
17 Sept 2024other● Neutral
Appendix 4G and corporate governance statement for FY24, confirming governance disclosures against ASX recommendations. Administrative filing with no new business information.
17 Sept 2024annual report● Neutral
FY24 audited results: NPAT A$475.9m, down 56.2%, on revenue of A$1.80bn, down 34.6%. Final dividend 22.0c fully franked, payable 24 October 2024. Auditor's report unmodified. The annual report notes North Surat coal assets were impaired at 31 July 2024.
17 Sept 2024half year report● Neutral
Full-year results media release: underlying EBITDA A$859.9m (down from A$1,746.6m), NPAT A$475.9m, operating cash flow A$562.0m, available cash A$824.5m. Final dividend 22.0c, taking FY24 total to 39.0c. Bengalla reached its 13.4Mtpa run rate ahead of schedule. Repeats the annual report.
17 Sept 2024resource reserve update▲ GoodMajor
Coal resources rose to 2,426Mt from 1,928Mt, mainly from 513Mt newly reported at the acquired West Muswellbrook tenement (AL19). Recoverable reserves slipped to 837Mt from 852Mt, reflecting Bengalla model updates and New Acland depletion of 2Mt. Other estimates unchanged.
17 Sept 2024resource reserve update▼ BadMajor
Bridgeport's net 2P reserves fell to 4.4 MMboe from 6.9 MMboe and 2C resources to 4.9 MMboe from 12.3 MMboe. Vali and Odin gas reserves were cut about 93% after weak appraisal results. Moonie and Kenmore CO2 recovery resources were moved to prospective after Queensland's June 2024 ban.
17 Sept 2024investor presentation● Neutral
Full-year results presentation repeating known figures: saleable coal 9.1Mt, EBITDA A$860m, NPAT A$476m, 22c final dividend. States New Acland targets about 5Mtpa by FY27 at roughly A$91/t cash cost. Capital is funded from operating cash flow. Largely restates the release.
12 July 2024debt financing● Neutral
Settlement of the A$300m 4.25% senior convertible notes due 2029 occurred on 12 July 2024. Singapore listing is expected 15 July. New Hope now carries convertible debt again after being debt-free.
4 July 2024debt financing● NeutralMajor
Priced A$300m 4.25% convertible notes due July 2029, conversion price A$6.63 (30% premium). Net proceeds about A$293.3m. Capped calls with a A$9.18 cap price are meant to reduce dilution; New Hope may settle conversions in cash. Ends the debt-free position once settled.
3 July 2024debt financing● NeutralMajor
New Hope launched a A$300m senior unsecured convertible notes offering due 2029, with a put option in July 2027 and capped call options to limit dilution. Proceeds are for general corporate purposes. This follows the 2021 notes, which were fully repurchased.
19 Mar 2024investor presentation● Neutral
Half-year results presentation repeating known figures: underlying EBITDA A$425m, NPAT A$252m, saleable coal 4.1Mt, 17c interim dividend. Lists Malabar at 19.9% and Maxwell as an operating mine. No new information.
19 Mar 2024half year report▼ Bad
Half-year to 31 January 2024: NPAT A$251.7m, down 62.4%, on revenue of A$856.6m (down 45.9%). Interim dividend 17.0c, payable 1 May 2024. Operating cash flow A$130.6m; cash A$296.1m after A$160m put into fixed income investments.
19 Mar 2024half year report● Neutral
Half-year media release repeating results: NPAT A$251.7m, underlying EBITDA A$424.8m, 17c interim dividend (A$143.7m). First New Acland Stage 3 coal sold. The CEO cited the AL19 tenement and EL9431 exploration near Bengalla as long-term options. Repeats the report.
21 Feb 2024asset acquisition disposition● Neutral
Malabar's equity raise was upsized to about A$180m. New Hope's firm commitment takes its stake from 15% to 19.9%: A$75.7m for 42.1m shares at A$1.80, settling 23 Feb, plus about A$4m in a later tranche. No mention of the conditional 23% allocation.
7 Feb 2024asset acquisition disposition● NeutralMajor
New Hope committed up to A$105m of Malabar's A$160m-plus placement at A$1.80 per share, from existing cash. A firm ~A$76m lifts its stake from 15% to 19.9%; a conditional ~A$29m could take it to about 23%. Funds Malabar's larger Maxwell longwall.
23 Nov 2023other● Neutral
AGM addresses and presentation lodged. The chairman repeats record FY23 NPAT of A$1.087bn, no debt, A$730.7m cash and 70c dividends, and says the board is confident the New Acland water licence legal challenges will be overcome. No new figures disclosed.
20 Nov 2023quarterly activities report● NeutralMajor
Quarter to October 2023: first New Acland Stage 3 coal mined (15 September) and railed. Underlying EBITDA A$244.9m, down 8.5%; cash A$812.1m before a A$253.6m dividend. Land Court hearing dates for the water licence challenge are not yet set.
13 Nov 2023regulatory community update▼ Bad
The Queensland Conservation Council served a criminal complaint on New Acland Coal on 10 November 2023, alleging unlawful conduct in historical mining of "West Pit" and seeking penalties. New Acland will defend it; materiality is still being assessed. A further legal front beyond the water licence case.
19 Oct 2023other● Neutral
Annual Appendix 4G and corporate governance statement, current at 20 October 2023, pointing to the website statement and mapping disclosures to ASX governance recommendations. No new operating or financial information.
19 Sept 2023annual report▲ Good
FY23 (to 31 July): record NPAT A$1,087.4m (up 10.6%), underlying EBITDA A$1,746.6m, operating cash flow A$1,524.8m, cash A$730.7m. Final 21.0c plus special 9.0c dividend declared. The convertible notes are fully repurchased, so no debt remains.
19 Sept 2023resource reserve update● NeutralMajor
2023 coal resources total 1,928Mt (1,939Mt in 2022). Only Bengalla changed, from a new geological model and pit design; New Acland and other deposits are unchanged. Total recoverable reserves are 852Mt versus 868Mt in 2022.
19 Sept 2023annual report▲ Good
Full-year media release: NPAT A$1,087.4m, underlying EBITDA A$1,746.6m, total FY23 dividends declared 70.0c. Saleable coal fell to 7.2Mt from 7.9Mt. New Acland Stage 3 mining began in May and first coal was washed in September. Repeats the annual report.
19 Sept 2023investor presentation● Neutral
Full-year results presentation repeating known figures: NPAT A$1,087m, underlying EBITDA A$1,747m, final 21c plus 9c special dividend. Bengalla growth project to 13.4Mtpa by September 2024 for A$200m funded from operating cash flow. Shareholder return was $2.29, down 22%.
19 Sept 2023resource reserve update▲ GoodMajor
Bridgeport's net 2P reserves rose to 6.9 MMboe and 2C resources to 12.3 MMboe at 31 July 2023 (6.2 and 11.0 a year earlier). Gains came from Vali and Odin appraisal wells and Kenmore CO2 recovery work. Vali and Odin are scheduled to produce this calendar year.
16 May 2023regulatory community update▼ BadMajor
Oakey Coal Action Alliance launched a new Land Court challenge to the New Acland Stage 3 water licence, naming New Acland Coal as respondent and seeking a halt to mining. New Hope will keep ramping up while it responds. This is the fourth Land Court round for the project.
18 Apr 2023security holder rights change● Neutral
Because of the 40c dividend, the conversion price of the convertible notes fell from A$1.7203 to A$1.6022 from 19 April 2023. This is a standard adjustment under the note terms.
24 Mar 2023material agreement▲ GoodMajor
The Colton liquidators' NSW Supreme Court case against New Hope was dismissed after agreed settlement terms. The economic outflow is A$38.5m, consistent with the provision, versus roughly $174.1m originally claimed. This resolves the trial that was set for February 2023.
21 Mar 2023debt financing▲ GoodMajor
The convertible note repurchase of about A$75m principal settled for A$258.1m in total, leaving A$18.7m of notes outstanding. New Hope also resumed its on-market share buy-back, with about A$268.7m of the A$300m program remaining.
21 Mar 2023half year report▲ GoodMajor
Half year to January 2023: net profit $668.6m (up 102.4%), revenue $1.58bn and underlying EBITDA $1,038.5m. Interim dividend 30.0c plus special 10.0c payable 3 May 2023. A $38.5m provision for the Colton liquidation case is reflected.
