Past year: ▲ 18%(2.15 – 3.01 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Oct 2012listing compliance notice● Neutral
ASX asked Stanmore to explain its annual report's missing gender-diversity disclosures. Stanmore replied it has no formal diversity policy, 20% female employees, no women on the five-person board or in executive management. Administrative compliance matter.
27 Sept 2012annual report● Neutral
2012 annual report. Chairman reports total JORC resources of 498.2Mt and exploration targets of 615-900Mt, 5Mtpa of port capacity secured, and says the company is well funded. Chris McAuliffe is listed as a director. Financial figures are not visible in the truncated text.
3 Aug 2012investor presentation● Neutral
August 2012 investor update by the Managing Director. Visible text is only disclaimers and notes restating the 94Mt marketable reserve and 260Mt resource. No new information is visible; text is truncated.
17 July 2012director officer appointment● Neutral
Chris McAuliffe, co-founder and Managing Director of Sprint Capital, joins the board. This is the Sprint nominee director foreshadowed in the June $36m funding deal, which Sprint made at $0.675 a share.
11 July 2012other● NeutralMajor
Concept study for Belview underground coking coal project: 3.4Mtpa run-of-mine, $907m capital, $104/t FOB cost before royalty, first coal targeted 2018. It builds on the 95Mt Inferred resource. Management would consider a joint venture partner if terms are right.
28 June 2012other● Neutral
Cover note attaching WICET's media statement. WICET has signed Capacity Commitment Deeds for 32.2Mtpa with four producers, including Stanmore for The Range, for the terminal's second stage (WEXP1), planned for completion in 2016. Repeats the already-announced deed.
28 June 2012material agreement▲ GoodMajor
Executed a Capacity Commitment Deed with WICET for 5Mtpa of port capacity for The Range; Stanmore's share of early works is $44m ($26m paid, $18m later this year). Also signed a $25m Credit Suisse secured facility, two years, with 11.7m options at $0.52. Rail due diligence passed.
28 June 2012investor presentation● Neutral
Managing Director's June 2012 presentation on key infrastructure and funding agreements. Visible text is disclaimers plus headlines already announced: the 5Mtpa WICET Capacity Commitment Deed and the $36m Sprint Capital placement. No new information is visible; text is truncated.
28 June 2012capital raising announcement▲ GoodMajor
Signed a $36.04m deal with Sprint Capital (Hong Kong): $27.01m of shares (40.02m) and $9.03m of convertible notes, all at $0.675, versus a last price of $0.36. Sprint gets 19.99%, up to 25% on conversion. Second tranche needs shareholder approval; Sprint will also market 15% of output.
13 June 2012investor presentation● Neutral
RBS Morgans Emerging Coal Conference presentation by the Managing Director. The visible text is only disclaimers and notes restating the 94Mt reserve and 260Mt resource. No new information is visible; the text is truncated.
7 June 2012asset acquisition disposition▲ GoodMajor
Agreed to swap its recently granted Altamondt tenement (EPC 2177) for Queensland Coal Corporation's EPCs 1274 and 1276 (1,371km2) in the Surat Basin, with no cash or equity paid. Initial exploration targets of 130-195Mt; Ministerial approval is required.
24 May 2012investor presentation● Neutral
Presentation on The Range at the Surat Basin Coal and Energy Conference. The visible text is only disclaimers and notes, restating the 94Mt marketable reserve and 260Mt resource. No new information is visible; the text is truncated.
10 Apr 2012material agreement▲ GoodMajor
Signed an Exploration Support Agreement with Taiheiyo Kouhatsu, backed by Japan's NEDO, for a $1.2m grant to drill 30 cored holes at The Range. Taiheiyo may buy up to 400,000t over the first three years of production. Seven rigs are on site.
15 Mar 2012resource reserve update▲ GoodMajor
The Range total JORC resource rose 14% to 260Mt (184Mt Indicated, up 22% from 151Mt; 76Mt Inferred), after 31 more holes. Impact on the 94Mt reserve and economics will feed the BFS due September 2012; 60-70Mt western target remains.
6 Mar 2012investor presentation● Neutral
March 2012 investor presentation. The visible text is only disclaimers, exploration-target notes and competent-person statements, restating the 94Mt marketable reserve. No new results are visible; the text is truncated.
2 Mar 2012other● Neutral
S&P Indices quarterly rebalance notice. Stanmore Coal is listed as an addition to the All Ordinaries index effective after close on 16 March 2012. The index change itself is not a company event.
3 Feb 2012regulatory community update▲ Good
Stanmore applied for two mining leases (MLA 55009 and 55010) for a 25km conveyor corridor linking The Range to a loadout on the Surat Basin Rail. Grant is expected with the main mining lease in early 2013.
3 Feb 2012material agreement▲ GoodMajor
Stanmore began a Bankable Feasibility Study at The Range, with a named consultant team and completion targeted for September 2012. It follows the November pre-feasibility study (NPV $846m owner mining). The environmental impact statement is now due March 2012, with first coal still targeted for 2015.
19 Jan 2012capital raising announcement▲ GoodMajor
The Share Purchase Plan closed with $5.4m from shareholders and $1.8m from the underwriters' shortfall. A further $2.8m placement at $0.74 was added. Total raised since December is $24.1m, completing the funding flagged in November.
28 Dec 2011director officer appointment● Neutral
CFO Doug McAlpine was appointed joint Company Secretary, alongside Duncan Cornish who continues in the role. This continues the handover of finance duties that began when McAlpine joined in September.
13 Dec 2011capital raising announcement● Neutral
Offer booklet for the Share Purchase Plan: eligible Australian and NZ shareholders can buy up to $15,000 of shares at $0.74 with no brokerage. The offer closes 13 January 2012. This is paperwork for the already announced raising.
9 Dec 2011capital raising announcement● Neutral
Wilson HTM and Bizzell Capital Partners (linked to director Stephen Bizzell) agreed to underwrite $7.25m of the up-to-$10m Share Purchase Plan at $0.74. The underwriting needs shareholder approval at an EGM on about 16 January 2012.
8 Dec 2011capital raising announcement▲ GoodMajor
Raised $14.1m through an institutional placement of about 19.1m shares at $0.74, a 9.8% discount to the last close. Funds go to The Range definitive feasibility study, exploration, port and rail commitments. This is the raising flagged at the AGM; a Share Purchase Plan of up to $10m follows.
What it means for a shareholder
19.1m new shares at A$0.740 to raise about A$14.1m. That's 93% dilution: every existing holder's slice gets 93% smaller. If you held A$1,000 of shares (1,351 at the issue price), your slice goes from 0.0904% to 0.00656% of the company. To keep it you'd need 17,257 more shares - about A$12,770 at the issue price.
Create a free account to see this worked out for your own holding.
8 Dec 2011investor presentation● Neutral
Capital raising presentation for the $14.1m placement at $0.74. The visible text is only disclaimers and risk warnings; the text is truncated and no new figures are visible.
5 Dec 2011regulatory community update▲ Good
Queensland Government approved the development scheme for the corridor containing the Surat Basin Rail route to Gladstone. Stanmore has applied for 5Mtpa of rail capacity for The Range; the company says construction is due late 2012 and first coal on rail in 2015.
30 Nov 2011investor presentation● Neutral
AGM presentation, November 2011. The visible text is only disclaimers, exploration-target notes and competent-person statements, with the 94Mt marketable reserve restated. No new results are visible; the text is truncated.
25 Nov 2011resource reserve update▼ BadMajor
Mackenzie now has a first 25.7Mt Indicated resource, lifting the total 45% to 143.2Mt. But coking coal yield averages only 26% (range 11-71%), well below earlier hopes, and processing problems must be solved. Work now focuses on the South and North East zones.
25 Nov 2011resource reserve update▲ GoodMajor
Belview gets an initial 95Mt Inferred resource in the Gemini seam, with a further 205-345Mt exploration target. Early washed results show hard coking coal (CSN 7, ash 7%) at 45% yield. This resolves the Inferred resource target set in September; a scoping study of deep underground mining is planned.
18 Nov 2011security holder rights change● Neutral
37,405,439 shares and 10.375m unlisted options (three series) come out of ASX escrow on 9 December 2011. This is administrative, but more shares become tradable.
16 Nov 2011resource reserve update▲ Good
Drilling west of The Range pit defined a new 60-70Mt exploration target in shallow coal, outside the 229Mt resource. It could add low-strip coal for early production. An Inferred resource is aimed for Q1 2012, weather permitting.
