Past year: ▲ 18%(2.15 – 3.01 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
30 Jan 2015quarterly activities report● Neutral
December 2014 quarter: cash ended at $17.2m after a $0.9m net outflow. The second $1.5m Belview funding from Taiheiyo/JOGMEC was secured and 6,439m was drilled at Belview and Clifford. The board announced an on-market buyback of up to 10% of shares, with none bought by report date.
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.
31 Oct 2014quarterly activities report● Neutral
Appendix 5B for September quarter: cash ended at $18.146m, down $17k, helped by $823k of Japanese funding receipts and a tax incentive payment. About $2.2m of spending is expected next quarter, mostly reimbursable exploration. No debt facilities.
31 Oct 2014quarterly activities report● Neutral
September quarter: cash was $18.1m, with a net outflow of only $17k and no take-or-pay exposure. Clifford follow-on drilling with JOGMEC has started on site. Belview infill drilling is expected in the December quarter, and the company continues to look at acquisition opportunities.
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.
31 July 2014quarterly activities report● Neutral
June quarter: cash was $18.2m. The Belview resource rise to 342Mt is restated, and a drilling program to upgrade part of it to Indicated is planned for the second half. JOGMEC has committed $1.5m of its $4.5m for Clifford drilling from October.
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.
30 Apr 2014quarterly activities report● Neutral
March quarter: cash was $18.9m, with no material commitments or take-or-pay liabilities. About 2,184m was drilled using Japanese-funded programs, including two partly cored Belview holes expected to modestly lift the resource and a 9-hole scout program at Clifford. Overheads were cut further.
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.
31 Jan 2014quarterly activities report● Neutral
December quarter: about 1,040 hours of drilling with no reportable incidents. The December Japanese deals are restated: JOGMEC funding up to $4.5m at Clifford for up to 40%, and $680k from Taiheiyo for Belview drilling, which has started and should finish in Q1 2014. Cash figure is not visible.
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.
