Past year: ▲ 18%(2.15 – 3.01 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 June 2018contract award▲ Good
NRW's Golding Contractors agrees to mine Isaac Plains East from July 2018, adding about $93m to its existing Stanmore contract and extending the term to June 2019. This continues the mining contractor relationship started in 2015 at Isaac Plains.
12 June 2018asset acquisition disposition▲ GoodMajor
Stanmore agrees to buy the Wotonga South coking coal deposit from Peabody for $30m cash ($6m at completion, $24m deferred over 12 months) plus a capped royalty of about $10m. Resource is 22.8Mt, 10km from the Isaac Plains plant; needs FIRB approval and is to be funded from cash flow and debt facilities.
28 May 2018resource reserve update▲ GoodMajor
Isaac Plains Complex resource rises from 79.2Mt to 82.2Mt, with measured tonnes up 41% after drilling and a 3D seismic survey. 79% is now measured and indicated; the Isaac Plains East resource is trimmed to 29.7Mt from 30.7Mt.
28 May 2018resource reserve update▲ GoodMajor
Maiden Probable reserve of 12.9Mt (9.4Mt marketable) declared for Isaac Plains Underground, based on the pre-feasibility study at 1.2Mtpa ROM. This supports the bankable feasibility study being run with Mastermyne; an upgrade in category is anticipated after it.
23 May 2018other● Neutral
Revised securities trading policy adopted 23 May 2018, setting clearance and blackout rules for directors and employees. Governance housekeeping with no effect on operations or finances.
9 Mar 2018other● Neutral
S&P Dow Jones quarterly index rebalance notice covering many companies. The readable text does not show Stanmore being added or removed; no substance for Stanmore.
5 Mar 2018regulatory community update▲ GoodMajor
Isaac Plains East mining leases and Commonwealth EPBC approval are granted, resolving the approvals thread open since January. Reserves of 11.09Mt add about 7 years of mine life; production is expected from early Q1 FY19, supporting a 1.8Mt product target for FY19.
2 Mar 2018contract award▲ Good
Mastermyne (ASX:MYE) says it won the Early Contractor Involvement role for Stanmore's Isaac Plains Underground bankable feasibility study, expected to take 26 weeks. Stanmore prefers to sole-source underground mining services from Mastermyne if commercial terms are agreed, subject to board approval.
26 Feb 2018half year report▲ Good
Half-year accounts to 31 December 2017 show net profit of $8.036m versus a $0.541m loss, on revenue of $82.8m. No dividend. Interim accounts for the full figures; the headline results are covered in the separate announcement.
26 Feb 2018half year report▲ Good
Half-year profit after tax of $8.036m (prior-year loss $0.541m) on revenue of $82.8m. Underlying EBITDA is $18.758m, within the cut guidance. Net cash is $14.6m after debt fell to $2.6m. FY18 guidance holds at 1.2Mt and $105/t.
29 Jan 2018quarterly activities report● NeutralMajor
December quarter sales fell to 183kt (from 411kt) as port queues delayed shipments, and ROM output fell to 271kt. Stanmore will mine Isaac Plains and Isaac Plains East concurrently, targeting about 40% more ROM in FY19, with $9.7m pre-production capital. The Isaac Plains Underground feasibility study (BFS) proceeds. FY18 unit cost is now guided at $105/t.
29 Jan 2018investor presentation● Neutral
December quarter presentation at $0.675 share price and $170.0m market cap (25 Jan 2018), with Sprint Capital at 22%. Includes board profiles. Repeats the quarterly report; no new information visible in the readable text.
25 Jan 2018regulatory community update▲ GoodMajor
Isaac Plains East environmental authority issued on 24 January 2018, with landholder and overlapping gas tenure agreements executed. Mining leases are expected in the coming months, and first coal remains on track for early Q1 FY19. This follows the September public notification.
21 Dec 2017director officer appointment● NeutralMajor
Stewart Butel, a director since September 2017 and ex-Wesfarmers Resources head, becomes Chairman from 1 February 2018, succeeding Neville Sneddon. This completes the chair handover flagged in September, with Sneddon on the board since October 2009.
18 Dec 2017admin correction● Neutral
Registry provider Link Market Services has moved its Brisbane office to Level 21, 10 Eagle Street. Administrative notice listing many companies; no substance for Stanmore.
7 Dec 2017production update▼ BadMajor
Port congestion at Dalrymple Bay (45 vessels queued) will push two December semi-soft coking coal shipments into January. Half-year EBITDA guidance is cut from $23-26m to $17-20m; FY18 1.2Mtpa production guidance and full-year results are said to be not materially affected.
25 Oct 2017investor presentation● Neutral
AGM Managing Director presentation at $0.55 share price and $138.5m market cap (24 Oct 2017), up from $0.395 days earlier. Restates the hub strategy and Isaac Plains focus; no new information visible.
25 Oct 2017other● Neutral
Chairman's AGM address: Isaac Plains turned into a full mine in FY17 and the board is being renewed. Neville Sneddon repeats he leaves in the new year. Quotes NPAT of $6.2m, which differs from the $12.0m reported in the accounts. No dividend.
17 Oct 2017investor presentation● Neutral
September quarter presentation at $0.395 share price and $99.5m market cap (13 Oct 2017). Sprint Capital holds 22%. Repeats the quarterly report's strategy and results; no new information visible in the readable text.
26 Sept 2017annual report● Neutral
2017 Annual Report repeating the FY17 results and strategy, with a $103.2m market cap at $0.41 (13 September 2017). Shows the new directors Butel and O'Connor. No new information visible.
22 Sept 2017regulatory community update▲ GoodMajor
Public notification for Isaac Plains East closed on 14 September with no objections or submissions. Mining lease and environmental authority grants are now expected in early 2018, a key approval step towards first coal.
18 Sept 2017director officer appointment● NeutralMajor
Stewart Butel (ex-Wesfarmers Resources) and Neal O'Connor join the board as independent directors. Chairman Neville Sneddon will retire, with a new Chair to be elected early in the new year.
31 Aug 2017debt financing▲ GoodMajor
Taurus facilities extended two years to 15 November 2019. Bonding facility rises to US$29m and working capital facility is US$22m; the royalty on Isaac Plains Complex proceeds rises from 0.8% to 1.0%, with a 3% establishment fee and interest unchanged at 10%.
31 Aug 2017annual report▲ Good
Statutory accounts for FY2017 show revenue of $137.8m (from $12.7m) and a net profit of $12.0m, against a $19.7m loss the year before. No dividend; the audit is unqualified.
31 Aug 2017annual report▲ GoodMajor
First full year of production: net profit $12.0m on revenue of $137.7m, versus a $19.7m loss. Net cash was $11.9m, and FY18 guidance is 1.2Mt product at about A$100/t unit cost. No dividend.
31 Aug 2017other● Neutral
Appendix 4G corporate governance statement lodged with the annual report. Administrative filing with no new substance.
24 Aug 2017resource reserve update▲ GoodMajor
Isaac Plains Complex resource rises from 76.9Mt to 79.2Mt, 70% Measured and Indicated. It comprises 48.5Mt at Isaac Plains and 30.7Mt at Isaac Plains East, where Measured coal rose from nil to 10.5Mt.
24 Aug 2017resource reserve update▲ GoodMajor
Isaac Plains Complex ROM reserve rises 8% from 15.2Mt to 16.4Mt despite 1.28Mt mined, extending open-cut mine life to 2029. Isaac Plains East reserve is 11.09Mt, with a lower strip ratio for the first three years.
15 Aug 2017material agreement● Neutral
Golding, the Isaac Plains mining contractor, is being sold to NRW. Stanmore says it is business as usual and is working through the consent process its contract requires for a change of control.
31 July 2017director officer appointment● Neutral
Joint Company Secretary Duncan Cornish has resigned. Ian Poole, the CFO, remains as Company Secretary. Administrative change.
