29 July 2024quarterly activities report● Neutral
June quarter: ROM 4.9Mt, saleable 3.4Mt, sales 3.5Mt, in line with guidance. Cash US$404m and net cash US$192m after receiving about US$136m from Wards Well and paying US$170m tax. SAFR rose to 0.48.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 July 2024other● Neutral
Notice of an investor call on 29 July 2024 at 10am AEST on the June quarterly report, hosted by Marcelo Matos and Shane Young. Administrative only.
28 June 2024other▼ BadMajor
Stanmore is ceasing operations at Mavis Underground, part of the Millennium Complex acquired to 100% in December 2023, after a review found it uneconomic at current prices. Millennium is expected to reach care and maintenance by end of 3Q 2024. Guidance is not expected to change.
23 May 2024agm notice● Neutral
Chair's AGM address repeats 2023 results: shareholder returns above 40%, revenue US$2.8b, underlying EBITDA US$1.10b, net cash US$126m, A$835m royalties paid. Restates the Eagle Downs purchases and Wards Well sale. No new information.
23 Apr 2024quarterly activities report● Neutral
March quarter: ROM 4.6Mt, saleable 3.3Mt, sales 3.4Mt, on guidance after early wet weather. Cash US$313m, net cash US$86m after US$77m dividends. SAFR rose to 0.35 after a finger injury. Coal prices fell during the quarter.
17 Apr 2024other● Neutral
Notice of an investor call on 23 April 2024 at 10am AEST to discuss the March quarterly report, hosted by Marcelo Matos and Shane Young. Administrative only.
16 Apr 2024asset acquisition disposition▲ GoodMajor
Stanmore completed the sale of southern Wards Well to Peabody on 16 April 2024, receiving about US$136m cash plus a capped royalty of about US$200m on the first 120Mt. It keeps Lancewood, and gets infrastructure sharing and gas rights agreements. Resolves the October 2023 deal.
12 Apr 2024director officer appointment● Neutral
Keira Brennan joins the board as an independent non-executive director from 12 April 2024. She is a senior energy and resources lawyer with over 30 years' experience, who has advised Stanmore's board and executives for several years.
12 Apr 2024annual report● Neutral
2023 Sustainability Report covering environment, safety, community and climate performance. It excludes Millennium and Eagle Downs data because of acquisition timing. Routine reporting with no new material events.
12 Apr 2024annual report● Neutral
Full 2023 annual report released, covering results already announced on 26 February. Chair's letter cites total shareholder returns above 40%, TRIFR 3.2 and SAFR 0.19. Revenue rose 4% to US$2.8b as prices moderated. No new information.
5 Apr 2024asset acquisition disposition▲ GoodMajor
Stanmore signed binding agreements to buy Aquila's remaining 50% of Eagle Downs plus 100% of Eagle Downs South (427Mt resource), giving it 100% of both. Eagle Downs costs US$15m upfront, US$20m on first longwall coal and a royalty up to about US$150m. Completion expected 2H 2024.
12 Mar 2024agm notice● Neutral
The 2024 AGM will be held on 23 May 2024 at 1pm AEST. Director nominations close 5pm AEST on 4 April 2024. Administrative notice only.
4 Mar 2024other▲ Good
Stanmore notes its inclusion in the S&P/ASX 200 from 18 March 2024. The CEO calls it recognition of the company's transformation and financial strength. No new operating or financial information.
1 Mar 2024other▲ Good
S&P Dow Jones index notice listing Stanmore as an addition to the S&P/ASX 200 from 18 March 2024. This is an index provider's rebalance announcement, not a company announcement. It follows Stanmore's entry to the ASX 300 in September 2023.
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.
23 Jan 2024quarterly activities report▲ Good
December quarter: ROM 4.8Mt, saleable 3.4Mt, sales 3.8Mt, the year's highest. 2023 saleable production was 13.2Mt, above guidance. Cash US$446m, net cash US$126m after the dividend. TRIFR rose to 3.2 with one serious injury; storms after quarter-end caused disruption.
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.
17 Oct 2023quarterly activities report▲ Good
September quarter: ROM 4.5Mt, saleable 3.4Mt, sales 3.3Mt, up from 3.2Mt. Cash US$470m and net cash US$134m, up from US$70m. Added logistics capacity is helping sales recover, as hoped. TRIFR rose to 2.8 after three injuries.
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.