Past year: ▲ 661%(2.80c – 29.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
9 Mar 2015half year report▼ Bad
Half-year to 31 Dec 2014: loss before tax A$17.3M (prior year A$14.1M); revenue A$12.1M, including US$9.1M Mountainside coal sales. Cash fell to A$41.3M from A$56M at June. Mountainside wash plant commissioned late February 2015, after delays; BCB plant decision still pending.
9 Mar 2015investor presentation● Neutral
Presentation of the half-year results, repeating known figures: loss before tax A$17.3M, normalised EBITDA loss A$6.2M, cash A$41.3M. Restates Mountainside, South African and Bayan developments already reported. No new information.
27 Feb 2015production update▲ Good
Mountainside's new wash plant is commissioned, after delays to late January 2015 against an end-2014 target. Washing of Flat Creek Blue Gem coal starts early March, with sales soon after. BCB plant commitment remains pending.
30 Jan 2015quarterly activities report● Neutral
December-quarter report: Mountainside wash plant built but commissioning slightly delayed; first Flat Creek coal in December; Flag Ridge thermal mine closed. Quarter sales US$4.2M. Woestalleen fines plant commissioned, and a non-binding term sheet signed for a 500,000 tpa BCB plant in South Africa.
18 Dec 2014regulatory community update▼ BadMajor
Queensland's mines department will not grant EPC 25623 to White and has ended the tender. The minister was concerned ICAC findings against chair Travers Duncan were not considered. White may re-tender later. Ends the May 2014 preferred-tenderer win.
28 Nov 2014other● Neutral
Copy of the company's constitution dated 28 November 2014. The extracted text shows only the contents pages; no specific change is described. Administrative.
28 Nov 2014investor presentation● Neutral
AGM addresses repeat known themes. Notable updates: the Bayan Singapore trial is now not expected until late 2015 at the earliest, and a BCB plant decision at Mountainside is expected early 2015. Company has no external debt.
25 Nov 2014agm notice● Neutral
Notice of an audio broadcast of the 2014 AGM on 28 November 2014. Administrative, no business substance.
30 Oct 2014quarterly activities report● Neutral
September-quarter report: Mountainside sold 52k tons for US$4M (US$25M since acquisition) in a weak US market, and obtained an air permit for a 250,000 tpa BCB plant. Wash plant still due December quarter; Woestalleen plant well under way. Resolves the pending BCB permit.
24 Oct 2014joint venture update● Neutral
Bayan has applied for special leave to appeal to the High Court of Australia against the freezing orders over its Kangaroo shares, challenging only the court's jurisdiction. The orders stay in place unless the court orders otherwise. Continues the Bayan dispute thread.
17 Oct 2014annual report● Neutral
Annual Report 2014 repeats the year's results and strategy. Chair says the board targets positive EBITDA within three years, cash was A$56M at year end, and Singapore trial against Bayan expected in 2015. Debt funding for the BCB plant is to be decided by year end.
29 Sept 2014investor presentation▼ BadMajor
Results presentation: FY2014 loss before tax A$55.3M (2013: A$122.3M), including a further A$25M impairment of the South Australian coal asset. Revenue A$27.9M, mostly Mountainside sales. Also notes a second South African feasibility study completed and an Anglo study begun.
29 Sept 2014annual report▼ Bad
Full-year accounts to 30 June 2014: Mountainside coal sales gave A$22.8M revenue since the October 2013 purchase but an operating loss; White's 51% share of its losses was A$4.3M. Wash plant due December 2014 quarter; BCB plant expected towards end 2015.
25 Sept 2014joint venture update▲ GoodMajor
WA Court of Appeal unanimously dismissed Bayan's appeal against the freezing orders over its Kangaroo Resources shares, with costs to White. This resolves the appeal thread; the orders are expected to stay until the Singapore proceedings conclude.
27 Aug 2014other● Neutral
Updated share trading policy summarising insider trading law and when staff may trade in company securities, including closed periods. Administrative, no business substance.
31 July 2014quarterly activities report● Neutral
June-quarter report: Mountainside sold about 125,000 tons for US$9M, US$21M since acquisition, but has made an operating loss since then. Wash plant now due in the December quarter and BCB plant pushed to late 2015. Woestalleen and Goedehoop work progressing.
1 July 2014other● Neutral
Administrative notice that White's principal place of business moves to 20 Hunter Street, Sydney from 1 July 2014. Phone and fax numbers unchanged.
30 May 2014other● Neutral
Administrative notice that the share registry (Computershare) moves to a new Victorian address from 30 May 2014. No substantive change for shareholders.
12 May 2014regulatory community update▲ GoodMajor
White was named preferred tenderer for Queensland coal exploration permit EPC 25623, near Middlemount, after applying for 2 of 7 areas. It commits to a 4-year exploration program; formal grant is still to come. A new Australian coal thread.
30 Apr 2014quarterly activities report● Neutral
March-quarter report: Mountainside sold another 90,000 tons for US$6M, with weather hampering output. Second-hand wash plant bought, targeted for September quarter commissioning. Woestalleen deal signed and a feasibility study started at Anglo's Goedehoop. Bayan dispute continues.
28 Apr 2014contract award▲ GoodMajor
River Energy (51% owned) signed a binding deal for its first South African coal fines project at Woestalleen Colliery, with a planned 250,000 tonne a year briquetting plant. About US$1.2M is payable now and US$1.2M more if it commits to Phase 2 within 12 months.
7 Mar 2014other● Neutral
S&P Dow Jones March 2014 index rebalance notice. The extracted text lists changes to the S&P/ASX indices; White Energy does not appear in the readable portion. No substance for the company.
3 Mar 2014half year report● Neutral
Half-year to 31 Dec 2013: net loss before tax A$14.1M (prior year A$68.4M, which included a A$58M South Australian coal impairment). Revenue A$10.5M, mostly Mountainside coal sales. Cash A$56M, down from the June 2013 balance.
3 Mar 2014investor presentation● Neutral
Results presentation repeats the half-year figures: A$14.1M loss, A$10.5M revenue, A$56M cash. Notes a South African briquette burn test completed and Bayan Singapore trial preparation for the 2014/2015 year. No new information.
31 Jan 2014security holder rights change● Neutral
Notice that 631,667 and 243,332 unlisted options (exercise price $3.50) expire on 31 March 2014. Holders must lodge exercise forms and payment by 5pm that day. Administrative.
31 Jan 2014quarterly activities report● Neutral
December-quarter report: Mountainside sold about 90,000 tons for US$5.9M revenue, and one uneconomic mine (Jellico Creek) was closed. Final purchase price was about US$20.2M. Black River's 49% funding partnership is secured and the Buckskin permit obtained. Bayan dispute continues.
21 Jan 2014farm in farm out completion▲ GoodMajor
The expanded Black River joint venture, announced 23 December 2013, completed on 21 January 2014. White and Black River will now work on growing Mountainside, including a coal wash plant and BCB plant. The African joint venture continues.
23 Dec 2013farm in farm out agreement▲ GoodMajor
White signed a second joint venture with Black River: Black River pays US$17.8M for 49% of River Energy JV UK, holding coal-fines BCB rights for the US, Canada, Australia and NZ and owning Mountainside Coal. This brings in a funding partner, as White had been seeking; completion is expected by 21 January 2014.
22 Nov 2013other● Neutral
AGM addresses repeat known themes: depressed coal equities, the Bayan joint venture termination's heavy toll, the Mountainside integration going smoothly and the Buckskin permit. The chairman stands for re-election voluntarily after adverse media attention. No new figures in the text.
18 Nov 2013agm notice● Neutral
Notice of an audio broadcast of the 2013 annual general meeting, held on 22 November 2013 Australian time. Administrative.
