Past year: ▲ 43%(3.82 – 6.03 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Feb 2024quarterly activities report▼ Bad
January 2024 quarter: underlying EBITDA A$179.9m, down 26.5% on lower realised price (A$180.64/t). H1 FY24 EBITDA A$424.8m versus A$1,038.5m. Available cash A$480.4m after A$444.2m of dividends and tax. Malabar stake increase and West Muswellbrook (AL19) tenement acquisition noted.
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 2023agm notice● Neutral
All company-endorsed resolutions carried at the AGM, including the remuneration report, director elections and CEO performance rights. Market Forces' constitution amendment failed with about 88% against, so its conditional net-zero reporting resolution was not put. Earlier ESG resolutions also failed.
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.
20 Sept 2023agm notice● Neutral
Market Forces, for 124 shareholders, proposed two resolutions for the 23 November 2023 AGM: a constitution change allowing advisory shareholder resolutions, and a request for net-zero-2050 coal asset reporting. Similar earlier resolutions were not approved by shareholders.
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.
21 Aug 2023quarterly activities report● Neutral
Quarter to July 2023: record FY23 underlying EBITDA A$1,750.0m, quarter A$267.7m. New Acland mining began 1 May (1.3Mbcm prime waste moved). Cash A$730.7m; 37.1m shares bought back for A$192.4m. OCAA filed a stay application on 14 July seeking to halt mining.
22 May 2023quarterly activities report● Neutral
April 2023 quarter: underlying EBITDA A$448.1m, up 14.8% on the prior quarter. Cash fell to A$827.0m after the A$348.8m dividend; 17.0m shares bought back for A$92.5m. New Acland clearing began 1 May; infrastructure spend about A$198m over two years.
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.
21 Mar 2023investor presentation● Neutral
Half-year results presentation repeating known figures: NPAT $669m, underlying EBITDA $1,039m, 30.0c interim plus 10.0c special dividend. Notes Bengalla growth to 13.4Mtpa by September 2024 for about $200m, and first coal mined at Malabar's Maxwell mine.
17 Feb 2023admin correction● Neutral
Corrects a typo in the quarterly report: the first-half FY22 comparative EBITDA was A$554m, not A$55m. This makes the 89% growth claim in the original highlight look overstated; the half-year report shows an 87.3% rise.
16 Feb 2023quarterly activities report▲ Good
Quarter to January 2023: first-half underlying EBITDA A$1.04bn and operating cash flow $983m, with cash A$1.07bn. 5.7m shares were bought back for A$31m. New Acland first mining is on track for late FY23, with first coal shipped in the first quarter of FY24.
1 Feb 2023director officer appointment● Neutral
Lucia Stocker joined the Board as an independent non-executive director on 1 February 2023. She has over 25 years of mining, engineering and strategic planning experience and will stand for election at the November 2023 AGM.
21 Dec 2022debt financing● NeutralMajor
The note repurchase was upsized to about A$75m of the A$200m convertible notes because of strong noteholder interest. The price depends on the share price average to 14 March 2023, with settlement through that period.
20 Dec 2022debt financing● Neutral
New Hope launched a reverse book-build to repurchase up to A$70m of its convertible notes for cash. The price is set by its share price average from 3 January to 14 March 2023. Share buy-back activity stays on hold until pricing ends.
14 Dec 2022capital raising announcement● Neutral
New Hope paused its A$300m share buy-back and began buying back its 2.75% convertible notes on market. Notes with A$107.9m face value are said to remain outstanding. No share buy-back will occur while the note buy-back continues.
24 Nov 2022agm notice● Neutral
All company-endorsed resolutions at the 24 November 2022 AGM passed, including Boulton's election and the CEO rights issue. The Market Forces constitution amendment failed with about 87% against, so its conditional capital protection resolution was not put.
24 Nov 2022other● Neutral
Chair, CEO and presentation addresses delivered at the 24 November 2022 AGM. The Chair called the New Acland Stage 3 approvals the biggest recent achievement and noted a 147% total shareholder return for FY2022. Mostly repeats known facts.
24 Nov 2022quarterly activities report▲ Good
Quarter to October 2022: underlying EBITDA A$648.1m (up 167%), cash A$1.8bn before the final dividend, and a record Newcastle price of US$412.72/t. A A$300m on-market share buy-back was announced. New Acland is recruiting to restart.
