Past year: ▲ 18%(2.15 – 3.01 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 July 2015resource reserve update▲ GoodMajor
Maiden JORC resource of 370Mt at Clifford (80Mt Indicated, 290Mt Inferred) across Grange and Liberty, after the JOGMEC-funded second program. Laboratory yields are about 82% and energy content above 5,900 kcal/kg. A third JOGMEC-supported farm-in period is underway.
1 July 2015asset acquisition disposition▲ GoodMajor
Stanmore buys the Wotonga coking coal deposit in the Bowen Basin from Peabody subsidiary Millennium Coal. Total consideration is $7m: $2m cash up front, $2m on mining lease grant and $3m via a $1/t royalty. It has no current JORC resource; confirmatory drilling is planned within 12 months.
30 June 2015other● Neutral
Revised securities trading policy adopted 30 June 2015, setting clearance and blackout rules for directors, employees and restricted contractors. Administrative governance document only; no impact on the business.
29 Apr 2015resource reserve update▲ GoodMajor
Belview resource updated to 330Mt, including a first 50Mt Indicated, after six more cored holes funded under the second Japanese agreement. This is slightly below the earlier 342Mt Inferred figure. Coking coal tests are strong, and a pre-feasibility study is set for the second half of 2015.
11 Mar 2015half year report▲ Good
Half-year to 31 December 2014: loss of $1.2m versus $3.1m a year earlier, due to lower employee costs and overheads and continued Japanese partner funding. Cash is about $17m. Spending on The Range and other projects is now nominal.
5 Feb 2015investor presentation● Neutral
JOGMEC/Trade and Investment Queensland seminar presentation in Tokyo, February 2015. Visible text is only disclaimers and notes restating the 94Mt reserve and 287Mt resource. No new information is visible; text is truncated.
26 Nov 2014other● Neutral
Chairman's AGM address: coal prices near 7-year lows, shares trading below cash backing. The company holds over $17m cash with no take-or-pay liabilities. Its 5Mtpa WICET expansion capacity rights have expired after the expansion was put on hold. Belview pre-feasibility study planned for 2015; acquisitions are being pursued.
26 Nov 2014investor presentation● Neutral
Managing Director AGM presentation. Visible text is only disclaimers and notes restating the 94Mt reserve and 287Mt resource. No new information is visible; text is truncated.
5 Nov 2014investor presentation● Neutral
CEO presentation 'The Case for Coal' at UNSW, 5 November 2014. Visible text is only disclaimers and notes restating the 94Mt reserve and 287Mt resource. No new information is visible; text is truncated.
4 Nov 2014farm in farm out agreement▲ GoodMajor
Second Exploration Support Agreement with Taiheiyo and JOGMEC gives $1.5m for more Belview core drilling, following the first $680k program. Taiheiyo's combined rights rise to up to 200,000t a year for five years of production, with the first 225,000t at a A$2/t discount.
30 Oct 2014investor presentation● Neutral
October 2014 Mining 2014 conference presentation. Visible text is only disclaimers and notes restating the 94Mt reserve and 287Mt resource. No new information is visible; text is truncated.
28 Oct 2014investor presentation● Neutral
Presentation to the Queensland Exploration Council capital raising seminar. Visible text is only disclaimers and notes restating the 94Mt reserve and 287Mt resource. No new information is visible; text is truncated.
24 Oct 2014annual report● Neutral
Published annual report for 2014. Cash was $17.8m at 30 June 2014 with no debt and a $25.0m market capitalisation at 9 September 2014. Total JORC resource is 933.2Mt, including Belview 342Mt and a 94.2Mt marketable reserve at The Range. Text truncated.
1 Oct 2014director officer appointment● Neutral
Patrick O'Connor, former Perilya chairman, joins as independent non-executive director, recommended by substantial shareholder 3rd Wave Investments. The company notes he sits on Buccaneer Energy, which is in US Chapter 11, and says this does not affect his appointment. Board grows to six.
23 Sept 2014drilling result▲ GoodMajor
Initial coal quality from the Clifford scout drilling (JOGMEC-funded) shows yields of 67-88% and some energy above the 6,700kcal Newcastle benchmark. Best strip ratios are 2.5:1 to 10:1 shallower than 100m. Follow-up program of up to 32 rotary and 8 cored holes costs $1.5m, aiming for an initial Inferred resource.
22 Sept 2014admin correction● Neutral
Share registry moves from Computershare to Link Market Services, effective 22 September 2014. Administrative notice only; no change to holdings or the business.
9 Sept 2014annual report● Neutral
Annual report for year to 30 June 2014 (text truncated). The chairman says coal prices remain unsustainably weak, but the company has substantial cash, low overheads and no take-or-pay liabilities, and may add assets selectively. Financial statements are not visible.
4 Aug 2014director officer appointment● Neutral
CFO Doug McAlpine resigned for another career opportunity. Financial Controller Andrew Roach becomes CFO and joint Company Secretary, with founding CFO Duncan Cornish returning part-time as joint Company Secretary. The company says this will cut overheads materially.
16 July 2014investor presentation● Neutral
July 2014 Noosa conference corporate presentation. Visible text is only disclaimers and notes restating the 94Mt reserve and 287Mt resource. No new information is visible; text is truncated.
9 July 2014price query● Neutral
Responding to a press article, Stanmore confirms it has held talks about buying the Wilkie Creek mine, but they are non-binding and incomplete. This is the first sign of the opportunistic acquisitions flagged earlier; no deal exists.
16 June 2014resource reserve update▲ GoodMajor
Following the Japanese-funded drilling, which has now concluded, Belview's Inferred resource rose from 322Mt to 342Mt. Coking quality remains promising (CSN 7-8.5), and cash is $18m with no take-or-pay liabilities. Feasibility work and environmental impact statement work are planned.
13 May 2014investor presentation● Neutral
May 2014 Sydney Resources Roundup coal market presentation. Visible text is only disclaimers and notes restating the 94Mt reserve and 287Mt resource. No new information is visible; text is truncated.
6 May 2014director officer appointment● Neutral
Financial Controller Andrew Roach was appointed joint Company Secretary, effective immediately. Doug McAlpine remains joint Company Secretary.
12 Mar 2014director officer appointment● Neutral
Andrew Martin, a founding shareholder, resigned as a director on 10 March 2014 and becomes alternate to Viv Forbes, with no fee, shrinking the board. The company says head-office staff numbers are substantially reduced since 1 July 2013, pay is frozen and the short-term incentive scheme is suspended.
21 Feb 2014half year report● Neutral
Half-year to 31 December 2013 loss was $3.1m, versus $3.3m a year earlier. Like-for-like losses fell about $1.1m, which the company attributes to overhead cuts. No further material spend on The Range until Surat Basin rail timing is certain. Text truncated; balance sheet not visible.
7 Feb 2014investor presentation● Neutral
February 2014 investor presentation. Visible text is only disclaimers and notes restating the 94Mt reserve and 287Mt resource. No new information is visible; text is truncated.
2 Jan 2014director officer appointment● Neutral
Joint Company Secretary Duncan Cornish resigned effective 31 December 2013. Doug McAlpine continues as Company Secretary.
30 Dec 2013material agreement▲ Good
Taiheiyo Kouhatsu, backed by JOGMEC, will provide $680,000 for Belview resource drilling, aimed at upgrading the 322Mt Inferred resource. In return Taiheiyo may buy up to 100,000t over the first three years at A$2/t below the Japanese settlement price.
20 Dec 2013farm in farm out agreement▲ GoodMajor
Japanese government-owned JOGMEC will fund up to $4.5m of exploration over 3 years at the Clifford thermal coal project in return for up to a 40% economic interest. This covers all planned Clifford exploration, with first holes expected in Q1 2014.
27 Nov 2013investor presentation● Neutral
Managing Director's 27 November 2013 AGM presentation. Visible text is only disclaimers and notes restating the 94Mt reserve and 287Mt resource. No new information is visible; text is truncated.
