Past year: ▲ 43%(3.82 – 6.03 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Feb 2020quarterly activities report▼ Bad
Quarter to 31 January 2020: saleable coal up 48% to 2.196 Mt on Bengalla, New Acland output down 42% to 0.7 Mt. The Queensland minister will wait for High Court proceedings before deciding Stage 3 leases. Jeebropilly mining has finished.
20 Jan 2020regulatory community update▼ Bad
WICET, and separately the liquidated Colton companies, applied for special leave to appeal the NSW Court of Appeal's Colton cross guarantee decision to the High Court. New Hope will update in due course, so the dispute is not yet fully closed.
20 Dec 2019regulatory community update▲ GoodMajor
NSW Court of Appeal confirmed that New Hope has not guaranteed the debts of the Colton companies under the cross guarantee. This dismisses WICET's appeal, though the text notes no further proceedings; the potential exposure of about $130m is reduced to a lower risk. Resolves the August 2019 appeal.
3 Dec 2019regulatory community update▼ Bad
Oakey Coal Action Alliance applied for special leave to appeal the 1 November orders to the High Court, challenging only the final orders, not the groundwater or bias findings. New Hope says this does not change that no barrier to Stage 3 approvals exists. Adds a new delay risk.
22 Nov 2019director officer appointment● Neutral
Non-executive director Sue Palmer, on the board since 2012 and Audit Committee chair, resigned effective 25 November 2019. A search for a replacement is underway; Ian Williams will chair the Audit Committee in the interim.
19 Nov 2019investor presentation▼ Bad
AGM chairman's presentation mostly repeating FY2019 results. Adds first-quarter FY2020 profit before non-regular items of $41.1m, down 44%, which the company attributes to a 40% fall in the thermal coal price over the year.
19 Nov 2019quarterly activities report● Neutral
Quarter to 31 October 2019: saleable coal up 66% to 3.328 Mt on the larger Bengalla stake. About 150 New Acland jobs were cut after the government missed the August deadline for leases and the water licence. Jeebropilly mining ends at year end.
19 Nov 2019other● Neutral
AGM release reviewing FY2019 and giving unaudited first-quarter FY2020 results: revenue up 14% to $327m, profit before non-regular items down 44% to $41.1m. Stage 3 still awaits leases and a water licence. Burton remains the most prospective near-term project.
1 Nov 2019regulatory community update▲ GoodMajor
Queensland Court of Appeal issued final orders dismissing the Oakey Coal Action Alliance's appeal and granting New Acland's orders. New Hope says nothing now bars government approval of Stage 3; leases, water licence and Jondaryan approval are still needed. Resolves the pending court orders.
23 Oct 2019other● Neutral
2019 Sustainability Report covering 1 August 2018 to 31 July 2019, with Bengalla included from 1 December 2018. Repeats known figures such as profit before tax $384m and 349 ha of certified rehabilitated land.
17 Oct 2019annual report● Neutral
Appendix 4G confirming the corporate governance statement for the year to 31 July 2019 is accurate and board-approved as at 17 October 2019. Compliance filing with no new business information.
27 Sept 2019investor presentation● Neutral
Presentation for an analyst visit to Bengalla, repeating known FY2019 figures: profit before non-regular items $268m, net debt $301.2m. Notes Bengalla is now 80% New Hope, 20% Taipower, running at about 10 Mtpa, with FY2020 run rate 10.0 Mt saleable coal. No new results.
24 Sept 2019admin correction● Neutral
Corrects the share holdings table in the 17 September 2019 preliminary final report. Director and executive remuneration is unchanged. Administrative correction only.
17 Sept 2019investor presentation● Neutral
Full-year results presentation repeating known figures: profit before non-regular items $268m, final dividend 9.0c. Adds net debt of $301.2m at 31 July 2019, with $210m of the facility still available.
17 Sept 2019annual report▲ GoodMajor
Record FY2019 profit before non-regular items: $268m (up 3%) on revenue $1,306m, final dividend 9.0c for 17.0c total. Net cash flow from operations $510m. Up to 150 New Acland redundancies as Stage 3 approvals remain delayed.
17 Sept 2019annual report▲ Good
FY2019 (to 31 July): revenue $1,306m (up 21%), profit before non-regular items $268.5m (up 3%), statutory profit $210.7m (up 41%). Final dividend 9.0c. Notes the Court of Appeal win on New Acland.
17 Sept 2019resource reserve update● NeutralMajor
Annual coal resources and reserves at 31 May 2019: total resources 2,636 Mt, with New Acland and Bengalla down on mining depletion. New Burton resource declared; recoverable reserves 749 Mt, down from 770 Mt.
17 Sept 2019resource reserve update● Neutral
Bridgeport's net oil reserves at 31 May 2019: 2P 5.7 million barrels and 2C resources 11.3 million barrels. Compares with 5.6 and 11.4 million barrels at 1 August 2018, so broadly unchanged.
10 Sept 2019regulatory community update▲ GoodMajor
Queensland Court of Appeal ruled against the Oakey Coal Action Alliance and for New Acland on groundwater, finding the original Land Court recommendation was infected by apprehended bias. Final orders are pending; New Acland Stage 3 still needs leases and a water licence.
26 Aug 2019quarterly activities report● Neutral
Quarter to 31 July 2019: saleable coal up 39%, with record full-year Australian production of 10.9 Mt. New Acland workforce warned of about 150 job cuts late in 2019 if Stage 3 approvals are not secured by end August.
21 Aug 2019other▼ Bad
WICET filed an appeal on 20 August 2019 against the NSW Supreme Court decision that New Hope is not bound by the Colton cross guarantee. The potential liability of about $130m is therefore not yet fully settled.
12 July 2019other▲ GoodMajor
NSW Supreme Court ruled New Hope has not guaranteed the debts of the Colton companies under the Deed of Cross Guarantee. This favours New Hope in the dispute with WICET over a potential liability of about $130m.
28 May 2019quarterly activities report● Neutral
Quarter to 30 April 2019: total saleable coal up 39% to 2.913 Mt, mostly from Bengalla now at 80% from 25 March. Newcastle price averaged US$91.30, down about US$9. New Acland Stage 3 still needs mining leases and a water licence.
25 Mar 2019asset acquisition disposition▲ GoodMajor
New Hope completed the purchase of Mitsui's 10% Bengalla interest, lifting its stake to 80% with Taipower on 20%. Effective date 1 December 2018. Resolves the pending A$215m deal announced in November 2018.
19 Mar 2019investor presentation● Neutral
Half-year presentation repeating the results: profit before non-regular items $160m, interim dividend 8c. Adds net debt of $103.5m at 31 January 2019 and $390m undrawn; a further draw is needed for the Mitsui 10% purchase in March.
19 Mar 2019half year report▲ Good
Half year to 31 January 2019: revenue $616.7m (up 21%), profit before non-regular items $159.8m (up 33%), interim dividend 8c. Bengalla at 70% contributed $126.6m pre-tax profit. Repeats the earlier same-day half-year report; net debt is given in the presentation.
19 Mar 2019half year report▲ Good
Half year to 31 January 2019: revenue $616.7m (up 21%), profit after tax before non-regular items $159.8m (up 33%), statutory profit $120.2m (up 4%). Interim dividend 8.0c, up from 6.0c. Statutory profit reflects acquisition costs and Colton-related charges.
12 Mar 2019regulatory community update▲ GoodMajor
Queensland granted the environmental authority amendment for New Acland Stage 3. Mining leases and an associated water licence are still required before the project can proceed. Stage 3 is expected to generate $7 billion of economic activity over 14 years.
19 Feb 2019regulatory community update▲ Good
The Coordinator-General approved the amended noise conditions, so the preconditions to the Land Court's New Acland Stage 3 recommendation are met. A final decision on the environmental authority is due by 12 March 2019. Mining leases and a water licence are still needed.
18 Feb 2019quarterly activities report▲ Good
Quarter to 31 January 2019: production up 28.2% to 2.657 Mt, helped by Bengalla at 70 percent from 1 December. Newcastle price averaged US$100.91. The Mitsui purchase is expected to settle in March 2019.
