Past year: ▲ 18%(2.15 – 3.01 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
26 Feb 2024half year report▲ Good
Full-year 2023: saleable 13.2Mt, underlying EBITDA US$1.1b, net cash US$126m. Acquisition debt fell 48% to US$318m, with a further US$78m repaid in February 2024. Final dividend US 8.4 cents. Full-year results release repeating the annual report figures.
26 Feb 2024other● Neutral
Annual corporate governance statement for 2023 and Appendix 4G. The board has three independent and four non-independent directors, reflecting Golden Investments' holding, which the statement says exceeds 59%. Routine compliance, no new events.
26 Feb 2024investor presentation● Neutral
Full-year results presentation repeats known figures: saleable 13.2Mt, underlying EBITDA US$1,100m, FOB cost US$86/t, SAFR 0.19, and a US 8.4 cent dividend. Nothing new.
26 Feb 2024annual report● Neutral
2023 revenue US$2,803.6m (up 4%) but profit after tax US$472.4m, down 35% from US$727.4m on lower sales prices. A final dividend of US 8.4 cents is declared, payable 18 March 2024. NTA per share US$1.945. MetRes now controlled.
26 Feb 2024resource reserve update▲ GoodMajor
Annual update puts total coal resources at 4.125 billion tonnes, ROM reserves at 372Mt and marketable reserves at 281Mt. Millennium is now counted at 100%, South Walker Creek and Poitrel models were updated, and MRA2C reserves reflect the final design.
19 Feb 2024other● Neutral
Notice of an investor call on 26 February 2024 at 11am AEDT on the 2023 full-year results, hosted by Marcelo Matos and Shane Young. Administrative only.
12 Feb 2024asset acquisition disposition▲ GoodMajor
Stanmore agreed to buy South32's 50% of the Eagle Downs hard coking coal underground project (resource 1,140Mt) for US$15m upfront, US$20m deferred and a capped royalty of about US$100m. It has also signed a term sheet to acquire a further 30% from Aquila. Completion expected by end of 2Q 2024.
16 Jan 2024other● Neutral
Notice of an investor call on 23 January 2024 at 11am AEDT to discuss the December quarterly report, hosted by Marcelo Matos and Shane Young. Administrative only.
22 Dec 2023asset acquisition disposition● NeutralMajor
Stanmore bought the remaining 50% of MetRes (Millennium and Mavis Downs) for A$1, taking it to 100% and consolidating it. It assumes the MetRes loan and rehabilitation liabilities, and the facility rises to A$105m. A royalty goes to the seller, an M Resources affiliate linked to director Latimore.
29 Nov 2023dividend declaration▲ GoodMajor
Board declared a special fully franked dividend of US 5.82 cents per share, paid 14 December 2023 — the first dividend since the 2022 raise and acquisition. Net cash is US$181m at October. 2024 guidance: saleable 12.3-13.0Mt, FOB cost US$97-102/t, capex US$150-170m.
26 Oct 2023asset acquisition disposition▲ GoodMajor
Stanmore agreed to sell the southern part of Wards Well (acquired from BHP in 2022) to Peabody for about US$136m cash, plus a contingent royalty of up to about US$200m. It keeps Lancewood and northern Wards Well. Completion expected 1H 2024, subject to approvals including FIRB.
11 Oct 2023other● Neutral
Notice of an investor call on 17 October 2023 at 10am AEST to discuss the September quarterly report, hosted by CEO Marcelo Matos and CFO Shane Young. Administrative only, no new information.
4 Sept 2023other● Neutral
Stanmore notes its inclusion in the ASX 300 from 18 September 2023, already announced on 1 September. The CEO calls it recognition of the company's transformation over two years. Repeat of known index change; no operating or financial change.
1 Sept 2023other● Neutral
S&P Dow Jones Indices announces Stanmore will be added to the S&P/ASX 300 index, effective 18 September 2023. Index change only, with no company operating or financial change.
14 Aug 2023investor presentation● Neutral
Half year results presentation repeats known figures: underlying EBITDA US$650m, operating cash flow US$395m, net cash US$70m, TRIFR 2.5 and FOB cash cost US$97/t sold. Net cash reached within 12 months of the SMC acquisition.
14 Aug 2023half year report▲ Good
First half 2023: revenue US$1,493m (up 36%) and profit after tax US$340m (up 46%). Underlying EBITDA US$650m, operating cash flow US$395m, acquisition debt repaid US$267m, net cash US$70m. No dividend declared.
7 Aug 2023other● Neutral
Notice of an investor call on 14 August 2023 at 10am AEST on the half year results, hosted by CEO Marcelo Matos and CFO Shane Young. No new information.
20 July 2023quarterly activities report▲ GoodMajor
June quarter: ROM 5.0Mt, saleable 3.2Mt, sales 3.2Mt. Cash US$421m exceeds long-term debt, giving a US$70m net cash position. Approved South Walker Creek expansion to 9.4Mtpa ROM and began MRA2C and Ramp 10 North works. TRIFR rose to 2.5 after five injuries.
30 June 2023director officer appointment● Neutral
Non-executive director Mark Trevan resigns effective 30 June 2023 for personal reasons. He held no securities. He had been absent from the AGM for personal reasons; the board shrinks from eight to seven directors.
1 June 2023director officer appointment● Neutral
Murray Smith, Chief Operating Officer of the M Resources Group, is appointed alternate director for Matt Latimore. Adds another M Resources-linked person to the board, a related party already tied to Stanmore's marketing arrangements.
16 May 2023agm notice● NeutralMajor
Supplementary AGM notice adds Resolution 7: approval to sell up to 25% of forecast annual coal production to M Resources Trading for up to three years. Non-associated directors recommend a vote in favour and the independent expert found it fair and reasonable. Extends the existing M Resources marketing relationship.
5 May 2023regulatory community update▼ BadMajor
The Commonwealth declared the EPBC Act proposal for The Range thermal coal project lapsed. Other tenure and approvals remain and Stanmore may reapply. The company says it will keep the asset for optionality, while focusing on its metallurgical coal assets.
6 Apr 2023annual report▲ Good
2022 Annual Report repeats known results: revenue US$2.70b, underlying EBITDA US$1.46b, operating cash flow US$1.18b and net debt cut to US$183m from a US$795m peak after buying 80% of SMC. US$1.62b was invested to acquire 100% of SMC.
6 Apr 2023other● Neutral
2022 Sustainability Report, covering Isaac Plains, Isaac Downs, South Walker Creek, Poitrel and Red Mountain, excluding the Millennium JV. It carries no external assurance and no new financial or operating figures in the readable text.
27 Feb 2023resource reserve update▲ GoodMajor
Year-end 2022 update: total resources above 4 billion tonnes, ROM reserves 218Mt and marketable reserves 166Mt (including The Range). SMC assets contribute 226Mt ROM reserves, with South Walker Creek 182Mt and Poitrel 44Mt.
27 Feb 2023annual report● Neutral
Annual corporate governance statement: Golden Investments holds over 64% of voting shares, and the board has four independent and four non-independent directors. Routine compliance document with no new events.
27 Feb 2023annual report▲ GoodMajor
2022 results: revenue US$2,696m (2021: US$283m) and profit after tax US$727m (2021: US$6.8m). Underlying EBITDA US$1.46b, operating cash flow US$1.18b, cash US$432m, net debt down to US$183m. No dividend declared.
27 Feb 2023investor presentation▲ Good
Presentation of the FY22 results, repeating known figures: underlying EBITDA US$1,456m, operating cash flow US$1,182m, net debt US$183m, saleable production 9.2Mt, and a A$3.80 share price (A$1.04 at end 2021).
23 Feb 2023other● Neutral
Notice of an investor call on 27 February 2023 at 10:00am AEST to discuss the 2022 annual report, hosted by CEO Marcelo Matos and CFO Shane Young. No new information.
16 Dec 2022other● Neutral
Stanmore says it has updated its board and committee charters and key policies, including the securities trading policy, which is attached. Administrative governance housekeeping with no financial or operating change.
