15 Nov 2011investor presentation● Neutral
UBS Coal and Iron Ore Seminar presentation, November 2011. The text provided is mostly disclaimers and competent-person statements; no new results are visible beyond the already announced 94Mt reserve.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 Nov 2011regulatory community update▲ Good
Queensland's environment department finalised the Terms of Reference for The Range environmental impact statement. The EIS is due in Q1 2012, with mining lease grant expected by Q1 2013, in line with first coal in 2015. No issues that could delay the EIS have been found.
8 Nov 2011resource reserve update▲ GoodMajor
The Range pre-feasibility study confirms a 5Mtpa open pit thermal mine for 26 years from 2015, up from 18. Owner-mining NPV is $846m (contract mining $703m), with FOB operating cost $71.9/t and capital of $505m (owner) or $407m (contract). Reserve is unchanged at 94Mt.
19 Sept 2011director officer appointment● Neutral
Doug McAlpine, formerly CFO of Watpac, joined as Chief Financial Officer on 19 September 2011. Duncan Cornish will progressively hand over CFO duties but remains Company Secretary. McAlpine will help negotiate port and rail contracts and the joint venture and offtake talks now under way.
16 Sept 2011drilling spud▲ Good
A four-hole drilling program has started at Kerlong, testing a potential underground hard coking coal target in the Rangal Coal Measures, modelled from about 500m depth. It follows the recent EPC 1769 grant; the aim is an initial Inferred resource.
14 Sept 2011annual report● Neutral
2011 annual report, the second since listing. The visible chairman's letter recaps the year: The Range 94Mt reserve, Belview and Tennyson drilling, and 7Mtpa WICET 2 rights. Financial statements are not visible in the text provided.
12 Sept 2011resource reserve update▲ GoodMajor
Five Belview drill locations define a 385-555Mt exploration target covering the western 26% of the lease. The six metre Gemini seam, once mined as hard coking coal at Leichhardt, is confirmed across the west; raw CSN reaches 8. An Inferred resource is now targeted by end 2011.
12 Sept 2011investor presentation● Neutral
September 2011 investor presentation. The text provided is mostly disclaimers and competent-person statements; no new results are visible.
6 Sept 2011material agreement▲ GoodMajor
Stanmore signed conditional agreements with the Adani Group for up to 12Mtpa of capacity in the planned Dudgeon Point terminal near Mackay from 2016: 5Mtpa each for Tennyson and Kerlong, 2Mtpa for Mackenzie. No funding is required until the 2013 feasibility study.
22 Aug 2011investor presentation● Neutral
Coaltrans Conference presentation on developing The Range, August 2011. The text provided is mostly disclaimers and competent-person statements; no new information is visible beyond the already announced 94Mt reserve.
22 Aug 2011material agreement▲ GoodMajor
Stanmore bought 7Mtpa of priority port capacity rights in WICET Stage 2 for $1.05m, and took over vendors' bank guarantees and interest of $5.77m. The guarantee is to be cancelled and interest repaid at WICET Stage 1 financial close, understood to be on track for September 2011.
4 Aug 2011resource reserve update▲ GoodMajor
The Range booked its first Marketable Coal Reserve of 94Mt (from 117.5Mt Probable ROM reserve), with 151Mt upgraded to Indicated and total resource up 5% to 229Mt. This exceeds the 55Mt WICET 2 requirement. It triggers a final $1.5m payment in shares to Comet Coal & Coke vendors.
15 July 2011investor presentation● Neutral
Presentation to the Noosa Mining and Exploration Conference, July 2011. The text provided is mostly disclaimers and competent-person statements, plus an overview restating the 318Mt Inferred Resource and a fully funded drilling program. No new results are visible.
5 July 2011drilling result▲ GoodMajor
Tennyson drilling, six of eight initial holes, found Aries seam 1.8-2.8m thick (average 2.5m), raising confidence in the upper end of the 220-290Mt exploration target. A JORC Inferred Resource is targeted for September quarter; coal quality tests are under way.
28 June 2011drilling result▲ GoodMajor
Belview drilling cut a six metre Gemini seam in two of three holes, at 562-814m depth. The seam was mined as prime hard coking coal at the Leichhardt Colliery, 4km west. Coking tests are under way; a Belview Inferred resource is targeted for Q3 2011.
16 June 2011director officer appointment▲ Good
Wesley Nichols appointed General Manager Exploration. He has 22 years in Bowen and Surat Basin roles, most recently Geology Manager at New Hope Coal since 2008. He takes over the former exploration manager's responsibilities and leads exploration and evaluation of the key projects.
6 June 2011asset acquisition disposition▲ GoodMajor
EPC 1769 has been granted at Kerlong, lifting the granted area there by 80%, resolving the earlier priority-applicant status. Stanmore is preferred applicant for adjoining EPCA 2176, with grant expected in about six months, but lost its bid for EPCA 1657. Drilling starts this month.
2 June 2011regulatory community update● NeutralMajor
Stanmore reviewed Queensland's strategic cropping land policy. Only two granted tenements, Mackenzie and Tennyson, are potentially affected; less than 10% of Mackenzie's 99Mt Inferred Resource is said to lie in trigger areas. The Range and four other projects are outside the protection areas.
17 May 2011other● Neutral
A video interview with Managing Director Nick Jorss, covering highlights of the recent quarterly report and upcoming activities, has been posted to the website. No new information is in the announcement itself.
16 May 2011investor presentation● Neutral
Asian investor presentation, May 2011. The text provided is mostly disclaimers and competent-person statements; no new results are visible.
12 May 2011investor presentation● Neutral
Presentation on The Range given at the Surat Basin Coal and Energy Conference, May 2011. The text provided is mostly disclaimers and competent-person statements; no new information is visible.
5 May 2011investor presentation● Neutral
May 2011 investor presentation giving a company and technical overview. The text provided is mostly disclaimers and competent-person statements; no new results are visible.
7 Apr 2011asset acquisition disposition▲ GoodMajor
Stanmore has secured the right to buy a key property inside The Range mining lease area, paid in stages over several years on confidential terms. The vendor can keep farming it for now. Talks continue with other landowners, with more deals expected this year.
31 Mar 2011drilling progress report▲ Good
Emerald scout drilling has cut 2.7m of Aries and 2.6m of Corvus Lower seam in three of eight holes. The Range pre-feasibility study and environmental studies have started, with mining lease approval expected Q3 2012. Rain still limits Mackenzie River drilling; Belview and Kerlong move to April.
15 Mar 2011half year report● Neutral
Half-year accounts to 31 December 2010. The visible text is the directory and review of operations, restating the 99Mt Mackenzie River resource, the EPC 2081 merger and a 2011 work plan, with a 7Mtpa production plan by 2015. Financial figures are not visible in the text provided.
7 Mar 2011admin correction● Neutral
Computershare notice that its Brisbane office moves address from 7 March 2011, listing affected clients including Stanmore. Administrative only.
18 Feb 2011drilling spud▲ GoodMajor
Drilling restarted at The Range (28 holes, to convert the 219Mt Inferred Resource to Indicated for WICET) and began at Emerald (eight holes, 220-290Mt thermal target). Mackenzie River and Belview drilling is due in March, then Kerlong.
17 Feb 2011director officer appointment▲ Good
Michael McKee formally appointed Operations Manager after three months on contract. He will lead feasibility, construction and production at The Range and Mackenzie River, targeting production by 2015. Previously worked at Yarrabee, Minerva and Sonoma mines.
31 Jan 2011asset acquisition disposition▲ GoodMajor
Stanmore is the first-priority applicant for EPCA 1769, four sub-blocks next to its Kerlong coking coal project. Grant is expected within about six months. It covers the shallower up-dip extension of target seams; Kerlong drilling is planned from Q2 2011.
31 Jan 2011investor presentation● Neutral
February 2011 investor presentation giving a company overview. The text provided is mostly disclaimers and repeats known facts.