Past year: ▲ 18%(2.15 – 3.01 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Apr 2017regulatory community update▼ Bad
Aurizon estimates about five weeks to repair Goonyella rail line landslips near Sarina. Stanmore says delays may affect sales for the rest of FY2017 and will update full-year production forecasts once the effects are understood.
29 Mar 2017regulatory community update▼ Bad
Tropical Cyclone Debbie hits the Bowen Basin; Isaac Plains was shut into a protective phase beforehand and the port provider has declared force majeure. Production is expected to be hit for the rest of the week, with stockpiles helping cushion delays.
10 Mar 2017other▲ Good
S&P Dow Jones index notice listing quarterly rebalance changes. Stanmore Coal is added to the All Ordinaries Index from 20 March 2017. This is an index inclusion, not a company announcement.
28 Feb 2017half year report● NeutralMajor
Half-year to December 2016: revenue $59.4m and a net loss of $0.5m (versus a $6.4m loss). Unit cost was A$116.90/t against a sale price of A$107.90/t, a A$9/t loss margin, which the company ties to ramp-up. Isaac Plains East approvals are targeted for Q1 FY18, with first coal possibly Q3 FY18.
28 Feb 2017investor presentation● Neutral
Half-year results presentation: 16 shipments totalling 582kt and $59.4m revenue, unit cost of sales $117/t. Management expects higher prices to flow through in the second half of FY17. The $15m raising funds operational efficiency. Repeats the accounts.
30 Jan 2017quarterly activities report▲ Good
December quarter: record open-cut ROM of 352kt and saleable coal of 302kt, with strip ratio down to 14.4 from 23.8. Sales were 264kt. Cost of production was A$110/t. March quarter benchmark is set at US$171/t, up 32%. FY17 guidance of 1.25Mt is reaffirmed.
30 Jan 2017investor presentation● Neutral
December quarter presentation repeating the quarterly report. Shows 251.1m shares and a $125.6m market cap at $0.50 (27 January 2017), and the March quarter benchmark of US$171/t. No new information visible.
14 Dec 2016capital raising announcement● NeutralMajor
Placement of 27.3m shares raises $15m at $0.55, a 12% discount to the last close of $0.625. Funds go to accelerated pre-strip and stockpiles, with a revised mine plan. FY17 guidance of 1.25Mt is kept, and the US$6m Taurus working capital facility remains undrawn.
What it means for a shareholder
27.3m new shares at A$0.550 to raise about A$15.0m. That's 67% dilution: every existing holder's slice gets 67% smaller. If you held A$1,000 of shares (1,818 at the issue price), your slice goes from 0.0136% to 0.00447% of the company. To keep it you'd need 3,712 more shares - about A$2,042 at the issue price.
Create a free account to see this worked out for your own holding.
14 Dec 2016investor presentation● Neutral
Presentation supporting the $15m placement at $0.55. Shows 222.7m shares and a $139.2m market capitalisation at $0.625, with Sprint Capital (Greatgroup) at about 25% (as read from the share-ownership chart). Management team listed; the rest repeats the placement announcement.
30 Nov 2016other● Neutral
AGM address: Isaac Plains ramp-up achieved but open-cut output below plan; highwall mining delivered about 220kt versus 300kt planned. Isaac Plains East approvals are the key focus. A portfolio review is under way and a joint venture partner for Isaac Plains is being considered (early stage). Viv Forbes resigns as director.
30 Nov 2016investor presentation● Neutral
Managing Director's AGM presentation reviewing the year: Isaac Plains restarted within 6 months, 82ha rehabilitated, Isaac Plains East applications lodged October 2016 and a drilling campaign starting December 2016. Notes processing plant reliability issues needed extra capital spending. Largely repeats known facts.
29 Nov 2016director officer appointment● Neutral
Nick Jorss, founder and Deputy Chairman, resigns as a director on 29 November 2016, two weeks after Dan Clifford took over as Managing Director. He stays on to assist the transition and remains a significant shareholder. His AGM re-election is withdrawn.
23 Nov 2016investor presentation● Neutral
Site visit presentation for analysts at Isaac Plains, repeating known points: FY17 sales target 1.25Mt, December quarter benchmark US$130/t, approvals for up to 4.0Mtpa ROM, about $350m replacement-cost assets. Visible text shows Mackenzie and Lilyvale at 85% and Clifford at 60% if farm-in completes. No new announcement.
14 Nov 2016director officer appointment● Neutral
Dan Clifford starts as Managing Director, as announced on 4 October. The board grows to seven directors. This completes the leadership handover; Nick Jorss moves to Deputy Chairman.
4 Nov 2016admin correction▼ Bad
Re-issue of the October presentation removing a Range reserve reference. The company had written down The Range's carrying cost at 30 June 2016, so the annual report shows nil reserves there. This reveals a material provision against The Range.
31 Oct 2016investor presentation● Neutral
October 2016 corporate presentation, 'A growing independent coking coal producer'. Visible text is only disclaimers and reserve notes; the rest is truncated. No new information visible.
28 Oct 2016admin correction● Neutral
Company clarifies that the quarter's 23.8:1 strip ratio includes pre-stripping typical of a ramp-up. It says completed strips since restart average 14:1, against a three-year average of 13:1. FY17 is expected to trend toward but stay above 13:1. This follows shareholder enquiries.
27 Oct 2016quarterly activities report● Neutral
September quarter: 8 shipments, 286kt sold (86% coking, up from 61% coking in June quarter), at average US$68/t. ROM strip ratio was 23.8 versus 17.1, and open-cut ROM output was below plan. Highwall mining gave 146kt; FY17 product target is 1.25Mt. Isaac Plains East mining lease applications were lodged in October.
14 Oct 2016production update▲ GoodMajor
The December quarter semi-soft coking coal benchmark is set at US$130/t, up US$56 or 75% from US$74. It sets pricing on Isaac Plains' 900,000tpa term contracts, expected to apply to deliveries from about November to February. This resolves the earlier open question on rising coal prices.
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.
20 July 2016quarterly activities report● Neutral
June quarter ramp-up: 309kt ROM coal, 231kt saleable, 156kt sold across five shipments. Start-up plant issues and lower-quality coal made 39% of output thermal, so the average price was US$60/t. Term contracts of 900,000t are signed and highwall mining has begun.
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.
