16 Nov 2017investor presentation● Neutral
AGM presentation repeating FY2017 results and first-quarter figures already released: profit $128.7m before non-regular items, quarterly NPAT $52.3m. No new announcements.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Nov 2017quarterly activities report▲ Good
Unaudited first quarter to 31 October 2017: revenue $238.6m, NPAT $52.3m (versus $10.5m), and net cash $302.9m, up from $88.3m. Coal sales rose 16% and oil production 60%.
16 Nov 2017quarterly activities report▲ Good
Quarter to 31 October 2017: saleable coal 2.379 Mt, up 6.2%; Newcastle price averaged $97.11 in October. New Acland Stage 3 water licence application lodged 3 October; Supreme Court judicial review set for 19 March 2018. Oil output reached about 1,000 barrels a day.
30 Oct 2017asset acquisition disposition● Neutral
Laneway Resources announced it will buy New Hope subsidiary Northern Energy's 50% of the Ashford coking coal project in northern NSW, taking Laneway to 100%. New Hope receives a $375,000 reimbursement; completion is expected December 2017. Exits a minor asset.
18 Oct 2017other● Neutral
Share registry Computershare notifies that its Brisbane office moves to 200 Mary Street from 1 November 2017. Administrative notice with no effect on the company.
19 Sept 2017annual report▲ GoodMajor
Year to 31 July 2017: revenue $844.1m, profit after tax $140.6m ($128.7m before non-regular items) against a $53.7m loss the year before. Final dividend 6.0c, making 10.0c for the year. Operating cash flow was $313m before interest and tax.
19 Sept 2017other● Neutral
Annual corporate governance compliance form (Appendix 4G) lodged with the annual report, pointing to the governance statement on the company website. Administrative, no new substance.
19 Sept 2017annual report▲ Good
Full-year results release: profit before non-regular items $128.7m, up from $5m, with 8.5 Mt sold and 6c final dividend. Year-end cash $236.9m. New Acland Stage 3 judicial review continues; Burton purchase described as enabling New Lenton.
19 Sept 2017investor presentation● Neutral
Full-year results slides repeating known figures: profit $128.7m before non-regular items, EBITDA $283.1m, 10c full-year dividend. Notes Bengalla contributed $322.6m revenue. No new announcements.
6 Sept 2017asset acquisition disposition▲ GoodMajor
The Lenton Joint Venture (New Hope 90%) agreed to buy four mining tenements and infrastructure from Peabody's Burton Coal Mine for A$14 million. They adjoin the New Lenton Project; completion is expected early 2018, subject to conditions.
29 Aug 2017quarterly activities report▲ Good
Quarter to 31 July 2017: Bengalla's full-year contribution lifted annual coal sales 23.1%. Oil sold rose 61% on acquisitions. Judicial review of the New Acland Stage 3 Land Court ruling is expected in the Supreme Court in early 2018; Barcoo Junction well showed oil and wet gas.
15 June 2017regulatory community update● NeutralMajor
New Acland Coal applied for judicial review of the Land Court's recommendation against Stage 3. This is the company's challenge to the adverse 31 May ruling; no outcome or timing is given.
31 May 2017regulatory community update▼ BadMajor
Land Court recommended that the New Acland Stage 3 mining leases and environmental authority amendment not be granted. This contradicts hopes of approval; the Minister makes the final decision. The mine employs 782 people, and the company remains committed to Stage 3.
31 May 2017admin correction● Neutral
Re-release of the Land Court recommendation announcement because the first version linked to the wrong document. Content is unchanged: Stage 3 leases recommended not to be granted.
29 May 2017quarterly activities report● Neutral
Quarter to 30 April 2017: coal sold up 21% on deferred QBH-outage sales; full-year sales expected marginally below last year. Newcastle price stayed above US$80. Colton lease granted; Beach's PEL630 well found no commercial hydrocarbons. Acland Land Court proceedings concluded.
4 May 2017regulatory community update▲ GoodMajor
Queensland granted mining leases for the Colton coal project near Maryborough, following the environmental authority in December 2016. A final investment decision is still required; the company will now study development timing and method.
19 Apr 2017regulatory community update● Neutral
Bengalla Mining Company, in which New Hope holds 40%, started NSW Land and Environment Court proceedings against MACH Energy to restrain development of its Mount Pleasant project until consent terms are met. No financial impact stated.
22 Mar 2017admin correction● Neutral
Correction: the interim dividend record date is 19 April 2017, not 18 April as stated in the results documents. No other change.
21 Mar 2017investor presentation● Neutral
Bridgeport Energy half-year slides: revenue $8.8m, loss after tax $2.1m, production 141,355 barrels, about 950 bopd. Notes Kenmore/Bodalla added 400 bopd and a 50% farm-out of PEL630 to Beach Energy completed 17 February.
21 Mar 2017half year report▲ GoodMajor
Half to 31 January 2017: revenue $374.6m, NPAT $68.4m ($54.9m before non-regular items, up 265%) versus $2.7m a year earlier. Operating cash flow $119.7m. Interim dividend 4.0c, double last year's. Bengalla contributed $39.7m.
21 Mar 2017investor presentation▲ Good
Half-year results slides repeating known figures: NPAT $68.4m, EBITDA $130.2m, operating cash $119.7m, 4.0c dividend. Cash including term deposits is shown rising from the prior half. No new announcements.
21 Mar 2017half year report▲ Good
Results media release repeating the half-year figures: NPAT $68.4m, EBITDA before non-regular items $130.2m, 4.0c dividend. Notes the QBH boom was replaced in under four weeks and full-year shipping isn't expected to be materially affected.
16 Feb 2017other▲ GoodMajor
Profit guidance for the half to 31 January 2017: NPAT of $50-54m before non-regular items, versus $15.0m a year earlier. About $14m non-regular rail-charge gain lifts the total to $64-68m. Results due 21 March.
16 Feb 2017quarterly activities report● Neutral
Quarter to 31 January 2017: saleable coal 2.195 Mt, up 88% with Bengalla; Queensland sales down 16.4% on the QBH outage, with deferred sales expected to be recovered this year. Colton environmental authority granted; Acland Land Court hearing to reopen in April.
20 Jan 2017regulatory community update▲ GoodMajor
Federal government granted EPBC approval for the revised New Acland Stage 3. State approvals (environmental authority, mining lease, water licence) are still needed; Land Court recommendations now expected around April 2017. Revised plan extends mine life to about 2029.
8 Dec 2016production update▲ Good
The QBH coal terminal shiploader, damaged in the 13 November storm, is repaired and loading has restarted. Insurer has granted indemnity, so costs aren't expected to materially affect full-year results. Delayed cargoes should be recovered over six months.
17 Nov 2016investor presentation▲ Good
AGM address and slides repeating FY2016 results (EBITDA $81.3m, net loss $53.7m) and Bengalla's $21.3m contribution. Adds unaudited first-quarter EBITDA of $40.0m, up 52.7%. FY2017 priorities include Acland Stage 3 approvals.
15 Nov 2016production update▼ BadMajor
Extreme weather on 13 November damaged the shiploader at the company's QBH coal terminal. Repairs could take several weeks, during which no coal can be loaded. Financial impact is still being assessed; may lower current-period sales.
15 Nov 2016quarterly activities report● Neutral
Quarter to 31 October 2016: saleable coal 2.14 Mt, up 57% with Bengalla; Queensland sales down 21% on typhoon delays. Received $12.95m Peabody Wilkie Creek settlement; Kenmore Bodalla oil fields bought from Beach, completed 19 October. Stage 3 delayed by new water law.
10 Nov 2016regulatory community update▼ BadMajor
Queensland passed groundwater legislation (EPOLA) that, per the MD, is likely to delay New Acland Stage 3 by at least 12 months. A new water licence is needed, with possible further Land Court proceedings. Contradicts the hoped-for December 2016 decision; over 300 jobs said to be at risk.