Past year: ▲ 18%(2.15 – 3.01 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Oct 2016director officer appointment● NeutralMajor
Dan Clifford, chief executive of Solid Energy New Zealand, is appointed Managing Director from 14 November 2016, on $400,000 base pay. Founder Nick Jorss moves to executive Deputy Chairman focused on growth. This is a change of chief executive as the company moves from restart to production.
30 Sept 2016annual report● Neutral
Glossy 2016 annual report, repeating the FY16 results: $12.7m first coal sales revenue, 620Mt Clifford resource, nil lost time injuries and a 29c share price. Chairman's letter calls it the transition from explorer to producer. Mostly a re-presentation of known results.
31 Aug 2016half year report▼ BadMajor
FY2016 loss was $19.7m (FY2015: $12.1m) on $12.7m of first coal sales, including a $13.9m impairment of Surat Basin development assets. Cash was $12.1m plus a US$12m undrawn contingent facility. Isaac Plains open cut is expected to be margin-positive in FY17 at about 1.1Mtpa.
31 Aug 2016admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to the governance statement on pages 34-38. Administrative filing with no new information.
31 Aug 2016annual report● Neutral
FY2016 annual financial report: first year as a coal producer. Statutory documents repeat the reserve and resource notes (Isaac Plains East 8.3Mt marketable). Detailed financials are truncated here; see the results announcement for the headline numbers.
30 Aug 2016price query● Neutral
ASX queries a jump in the share price from $0.30 to $0.41 on 30 August. Stanmore says it knows of no undisclosed information, and points to hard coking coal spot prices up 70% since January to over US$130/t and peers also rising.
21 July 2016investor presentation● Neutral
Noosa Mining Conference presentation, July 2016, 'Successful transition to Australia's newest coking coal producer'. Visible text is only disclaimers, reserve notes and the production target note; the rest is truncated. No new information visible.
15 June 2016contract award▲ GoodMajor
Stanmore awards UGM a highwall mining contract at Isaac Plains, targeting over 300,000 ROM tonnes from the disused S2 pit between June and October 2016. It is estimated to cost about 20% less per tonne (FOB) than the open cut, adding low-cost coking coal.
30 May 2016resource reserve update▲ GoodMajor
Clifford Project in the Surat Basin has its JORC resource lifted 67% from 370Mt to 620Mt (190Mt Indicated, 430Mt Inferred) after 2015 drilling funded by JOGMEC. This resolves the pending lab results; a final farm-in period with feasibility work follows, with JOGMEC able to earn an option over 40%.
19 May 2016admin correction● Neutral
Re-release of the 18 May re-opening announcement, adding an expanded competent person statement and a production target note (1.1Mtpa for 10 years, backed by 11.9Mt marketable reserves). No new results.
18 May 2016other● Neutral
Queensland Premier officially opens Isaac Plains. The attached media release repeats known facts: 76.9Mt resource, mine life over 10 years, operating costs cut 35%, and royalties above $7m a year. It cites reserves of 15.7Mt, against the 15.3Mt announced on 6 April.
12 May 2016production update▲ GoodMajor
The first coking coal shipment is loaded at Dalrymple Bay, the first Isaac Plains sale into contracts with Asian steel mills. It completes the restart of the mine acquired in November 2015, with 150 workers now employed.
6 Apr 2016investor presentation● Neutral
Mines and Money Hong Kong presentation, April 2016, titled 'Delivering Value as Australia's newest coking coal producer'. Visible text is only disclaimers, reserve notes (Isaac Plains East 8.3Mt marketable from 10.3Mt ROM) and competent person statements; the rest is truncated. No new information visible.
6 Apr 2016production update▲ GoodMajor
First coal is processed through the restarted Isaac Plains wash plant, within the April target set in earlier announcements. First shipment is planned for early May to Asian steel mill customers. This marks the move from explorer to producer, in the company's words.
6 Apr 2016resource reserve update▲ GoodMajor
Isaac Plains complex resource more than doubles from 30.1Mt to 76.9Mt, with 74% Measured and Indicated. This includes a maiden 28.7Mt resource for Isaac Plains East, whose raw coal quality is better than Isaac Plains. It resolves the pending exploration program.
6 Apr 2016resource reserve update▲ GoodMajor
Isaac Plains complex reserve triples from 5.0Mt to 15.3Mt with a maiden Isaac Plains East reserve. Open-cut mine life extends from 3 to over 10 years at 1.5Mtpa run-of-mine. Lower strip ratios are expected to cut costs by A$15-20 per tonne in the first four years.
11 Mar 2016half year report▼ Bad
Half-year to 31 December 2015 shows a loss of $6.4m, up from $1.2m a year earlier, driven by Isaac Plains due diligence and ownership costs. Cash was $30.5m. Of about $55m vendor compensation, $33m was received and about $22m is receivable.
4 Mar 2016material agreement▲ GoodMajor
Stanmore signs a foundation annual coking coal supply contract with a top-tier East Asian steel producer, covering a material portion of Isaac Plains' semi-soft coking coal. Details are confidential, and other contracts are under negotiation. First coal remains on track for April 2016.
12 Feb 2016production update▲ Good
Handover of Isaac Plains to Golding is complete, the dragline overhaul finished under budget and the first blast was done. First coal remains on track for April 2016. Taurus guarantee funds drawn are cut by $10m. Heavy rain caused only a moderate schedule impact.
17 Dec 2015contract award▲ GoodMajor
Stanmore awards Golding Contractors a three-year mining and coal preparation contract for Isaac Plains, with first coal targeted for April 2016 at at least 1.1Mtpa. Costs are cited as about 35% lower per tonne. Cash plus vendor payments are projected at $18m by June 2016, with a $17m undrawn facility.
30 Nov 2015asset acquisition disposition▲ GoodMajor
Stanmore completes the Isaac Plains acquisition from Vale and Sumitomo, the deal contracted 30 July 2015 and slipped to end November. Mine restart is on track for 1H 2016, with a contractor award expected by year end and updated JORC status by the June quarter 2016.
30 Nov 2015investor presentation● Neutral
Investor presentation on completing Isaac Plains, titled 'Transformation to Met Coal Production'. Visible text is only disclaimers, The Range reserve note and competent person statements; the rest is truncated. No new information visible.
23 Nov 2015investor presentation● Neutral
Managing Director's presentation of 23 November 2015, the AGM day. Visible text is only disclaimers, reserve notes (Isaac Plains 3.7Mt marketable, The Range 94Mt) and competent person statements; the rest is truncated. No new information visible.
23 Nov 2015other▲ Good
Chairman's AGM address: Isaac Plains completion now expected by end of November 2015, slipping from end of October. A mining contractor award is expected by early December. Shares have risen from about 5 cents to about 20 cents since the acquisitions were announced.
23 Oct 2015annual report● Neutral
Re-lodged glossy 2015 annual report, titled 'Strong Position', with the same chairman's letter on becoming a coking coal producer. Visible text repeats the Isaac Plains 3.7Mt marketable reserve and The Range reserve notes. Appears to be a re-release of the 4 September report; no new figures visible.
17 Sept 2015other● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2015, pointing to pages 37-40 of the annual report. Administrative filing only, with no business impact.
4 Sept 2015asset acquisition disposition▲ Good
Purchase of the Wotonga coking coal licences from Peabody's Millennium Coal is completed, with the $2m upfront cash paid. Renamed Isaac Plains East as an extension of Isaac Plains. An exploration program will feed a maiden JORC resource, with results expected in 1Q 2016.
4 Sept 2015annual report● Neutral
Annual report for year to 30 June 2015. The chairman says two coking coal deals will transform Stanmore from explorer to producer in the coming year. Isaac Plains marketable reserve is 3.7Mt (5.0Mt run-of-mine). Financial figures are not visible in the truncated text.
30 July 2015investor presentation● Neutral
Investor presentation on the Isaac Plains acquisition, 'A fully equipped coking coal mine'. Visible text is only disclaimers and competent person statements; the rest is truncated. It appears to repeat the same-day acquisition announcement, with no new information visible.
30 July 2015asset acquisition disposition▲ GoodMajor
Stanmore contracts to buy 100% of the Isaac Plains coking coal mine from Vale and Sumitomo for $1, targeting restart in 1H 2016 at 1.1Mtpa. It takes on a $32m rehabilitation obligation, offset by vendor compensation payments repayable via royalty; a Taurus two-year facility backs guarantees. Completion expected by end October 2015. This moves Stanmore from explorer towards producer.
