Past year: ▼ 21%(6.30c – 9.98c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 Oct 2024quarterly activities report● Neutral
September quarter: Blair Athol sold 404kt at A$149.5/t and remains on track for 1.8Mt in FY25. South African sales fell 12% to 1.3Mt on rail limits. Cash A$16.7m plus A$58.2m restricted; 1c dividend declared.
31 Oct 2024dividend declaration▲ GoodMajor
TerraCom declares a fully franked 1 cent per share dividend for the September quarter, payable 6 December 2024. This restarts dividends, the first declared since the 3c paid in September 2023, earlier than the company's hope in July.
30 Oct 2024investor presentation● Neutral
Investor lunch presentation in October 2024. Only the disclaimer is visible, noting resources are as per the 21 October annual report, so it appears to repeat known information.
21 Oct 2024other● Neutral
Appendix 4G, the checklist pointing to where the governance disclosures can be found, lodged with the annual report. Administrative only; no new information.
21 Oct 2024agm notice● Neutral
Notice of the 2024 AGM, to be held 10:30am on 21 November 2024 in Sydney, with proxy form. Administrative; the visible text gives voting procedure only.
21 Oct 2024annual report● Neutral
The 2024 Annual Report repeats the FY24 results already reported on 30 August: average price fell to A$159/t from A$361 in FY23. The chairman calls the Wintime Moorlands agreement exciting; Blair Athol is described as returning to a 1.8Mt run rate.
21 Oct 2024other● Neutral
Annual corporate governance statement for the year to 30 June 2024, assessed against ASX principles. It notes a five-member board unchanged. Administrative disclosure with no new business events.
6 Sept 2024other▼ Bad
S&P Dow Jones Indices will remove TerraCom from the S&P/ASX 300 index before the open on 23 September 2024. Index providers made this call, not the company; no company event is described.
30 Aug 2024annual report▼ BadMajor
FY24 results: revenue A$259.1m (down 61%) and profit after tax A$25.0m (down 90%), with A$25.95m attributable to owners. Only A$24m of dividends were paid, the September 2023 3c payment, and none was declared after year-end. NTA is 20.96c.
12 Aug 2024material agreement▲ GoodMajor
TerraCom signs a cooperation agreement with Shanghai-listed Wintime to develop the Moorlands thermal coal project, 14km from Blair Athol (378Mt resource, proposed 1.9Mtpa). Definitive documents are targeted by 31 December 2024, with first coal targeted in FY26. Subject to approvals.
31 July 2024quarterly activities report● NeutralMajor
June quarter: Blair Athol sold 408kt, with FY24 at 1.57Mt, below expectation. A US$20m customer prepayment enabled substantial repayment of the historic tax debt. No dividend is declared, though one may restart earlier if prices hold. Cash A$12.8m plus A$56.4m restricted.
3 July 2024production update▼ BadMajor
Blair Athol sold 408kt in the June quarter, finishing FY24 at 1.57Mt, short of the revised 1.7Mt guidance after a mid-June dragline breakdown. FY25 guidance is 1.8Mt.
30 Apr 2024quarterly activities report▼ BadMajor
March quarter: Blair Athol sold 315kt after a shipment slipped into April, and FY24 guidance is cut again to 1.7Mt. No dividend is declared as the company repays historical tax obligations. Cash A$11.4m plus A$56.4m restricted.
29 Feb 2024half year report▼ Bad
Half-year to December 2023: revenue A$141.3m (down 67%) and profit after tax A$31.5m (down 83%). Only the 3c September dividend was paid in the period. NTA is 21.76c. Accounts were reviewed by auditors.
1 Feb 2024director officer appointment● Neutral
Non-executive director Craig Lyons resigns after three and a half years, joined in July 2020 after the South African acquisition. He will stay on as a consultant on South African operational matters.
31 Jan 2024quarterly activities report▼ BadMajor
December quarter: Blair Athol sold 418kt at A$159/t amid a geological event and heavy rain; operating EBITDA was A$24.1m. FY24 guidance is cut to 1.8-2.0Mt from about 2.0Mt. No dividend is declared, citing weather and income tax obligations. Cash A$21.6m plus A$56.4m restricted.
29 Nov 2023investor presentation● Neutral
AGM presentation. Only the disclaimer is visible, with no new figures or events readable, so it appears to repeat known information.
29 Nov 2023agm notice▼ Bad
AGM results: the remuneration report drew over 25% against, a first strike. Lochtenberg, Ludski and Norris were elected. The resolution to replace the constitution was not carried (about 67.7% for, short of the needed majority).
31 Oct 2023quarterly activities report▼ BadMajor
September quarter operating EBITDA was A$35.2m, down from A$55m in June. Blair Athol sold 426kt at A$176/t; FY24 guidance is about 2.0Mt. No dividend is declared for the quarter, after 3c paid in September, to keep liquidity strong.
27 Oct 2023agm notice● Neutral
Notice of the 2023 AGM, to be held 29 November 2023 in Sydney, with proxy form. Administrative; the visible text carries no resolutions detail beyond voting procedure, though Norris's election was already flagged.
27 Oct 2023other● Neutral
The 2023 Corporate Governance Statement reports practice against ASX recommendations. It notes the board now has six directors, one of them a non-executive who is not independent. Administrative filing with no new events.
27 Oct 2023annual report● Neutral
The 2023 annual report repeats known FY23 results: record NPAT A$262m, 8Mt coal sales, and 23.5c in dividends. The chairman says management has a formal process to appraise growth projects and acquisitions, though shareholder returns remain the priority.
27 Oct 2023other● Neutral
Appendix 4G, the checklist locating the governance disclosures for the year ended 30 June 2023. It is an administrative filing with no substance of its own.
6 Oct 2023director officer appointment● Neutral
David Norris joins as non-executive director, representing substantial shareholder John Singleton Group, where he is CEO. He is a former Deloitte director and will stand for election at the 29 November AGM. Partly refills the board after Campbell's exit.
31 Aug 2023annual report▲ GoodMajor
FY23 results: revenue A$660.6m (down 18%), profit after tax A$262.5m (up 5%), with A$262.1m attributable to owners. NTA is 20.96c. A$244m of dividends were paid in the year; a 3c final dividend is declared. Control of one South African entity (49% held) was lost.
31 Aug 2023admin correction● Neutral
The company confirms the June-quarter dividend dates despite the date noted in the Appendix 4E: ex-date 11 September, record date 12 September, payment 28 September 2023.
31 Aug 2023dividend declaration▲ Good
A 3.0c fully franked dividend is declared for the June quarter, payable 28 September. FY23 dividends total 23.5c (about 72% of profit). The company describes record profit of A$262m, up 5%.
27 July 2023quarterly activities report▼ Bad
June quarter operating EBITDA was A$55m (Blair Athol A$44m, South Africa A$11m) as prices softened. Blair Athol sold 466kt at A$198/t, finishing FY23 at 1.8Mt, in line with the revised guidance. Cash A$51m plus A$67m restricted.
13 June 2023production update▼ BadMajor
Blair Athol FY23 coal sales are now expected at 1.8-1.9Mt, down from the 2.1Mt forecast (originally 2.2Mt), because of Queensland logistics delays. The company says the shortfall is timing only, with sales moving into early FY2024.
31 May 2023dividend declaration● Neutral
A 3.0c fully franked dividend is declared for the March quarter, payable 27 June, well below the previous 7.5c. Total for the nine months is 20.5c (about 73% of profit), and A$244m will have been returned since July 2022.
