Dona Ferentes
A little bit OC⚡DC
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Not in dirty coal lol. The deep greens will come after you as soon as things return to 'normal'. How soon we forget.... Issue du jour and all that.
NHC - New Hope Corporation
- Thread starter laurie
- Start date
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- new hope corporation nhc
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Definitively agree, Europe can freeze but Greta will tell you it is to prevent global warming that you need to get frostbites
Coal will still ne booming for years but only in places outside the woke areas.
So for buy and forget coal, you need companies listed in India, Indonesia, China , Vietnam or Russia?
Too much narrative indeed against our asx listed coal companies for a smooth ride
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Same as you SC bought in a long time ago, sold out a long time ago, did ok. But havent been in for a long time.
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NHC announced today a nice little dividend of 17cps ff and a special divie of 13cps ff. Darn glad I hold this one as well as SMR.
TechnoCap
Life is one hell of a ride
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Wowee if we can get through and hold above $4 then $4.47 becomes the next milestone then look out $6 if the ship continues to sail - better keep checking the mast
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kolbítur - Wiktionary, the free dictionary
What an appealing state of ESG affairs... Coal ripping it to shreds... Whodathunkit... ?
TechnoCap
Life is one hell of a ride
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one thing I did get right in late Nov of 2021 was to pick this up at $1.91- dirty bloody coal thanks - might be a pullback just shy of $4 but if it can get through and hold above $4 then might be further upsidekolbítur - Wiktionary, the free dictionary
en.m.wiktionary.org
What an appealing state of ESG affairs... Coal ripping it to shreds... Whodathunkit... ?
View attachment 140050
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remember NHC has an oil play via a subsidiary ( which sells to a local refiner ) there might be a cherry to come for that pudding
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Will NHC have another major fall after this ex div on 14/4 as it did after it's last ex div in Oct '21?
It is right to the point of a long term falling overhead trendline, does not bode well in my estimates but I could be wrong.
Holding NHC
It is right to the point of a long term falling overhead trendline, does not bode well in my estimates but I could be wrong.
Holding NHC
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...and that is the big question! When to sell? I see people selling and I go WHYYYYY! Shortly after I see the stock roaring upward with so much lost upside.
The buy-in I think I am now OKish with now, the sell-side I want to do so much better.
AS I see it Short term psychology is "fark I am up, sell quick before it goes into loss." Then often it goes higher quickly or plunges into loss before it can be sold.
The Medium Term mentality is "I have made a pretty good percentage, let's capture the profits, no one made a loss by taking their profits." Guaranteed the damn thing goes up and you miss the best.
Long term is, "Oooh look at how much I have made, I will be able to bask in the glory and tell people what an awesome investor I am."
Even as it plunges and wipes out most or all of the upside, they comfort themselves with "time in the market" is the secret. They live the rest of their investment lives having mediocre results. Although most of the time they probably are blissfully aware of this.
I am no longer holding this stock, I talked myself into selling. Did I just stuff up @Captain_Chaza?
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Wondering if this is going to be the end for NHC or will it push up above the long term falling trendline. I sold on this falling trendline.
Sean K
Moderator
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Coal watchlist just about the only thing I've liked watching the past few months. BOs occurring on several today.
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Yeah just checked, WHC up near its previous high of $6 too. I remember when posters here were discussing whether to risk buying @ $1. Pathetically cautious.
Sean K
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I wonder if it has anything to do with the expected surge in demand from Europe?
Sean K
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Could be. Looks like they're all tanking today with the rest of the market.
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New Hope Corporation Limited (ASX:NHC) (the Company) announces an update regarding recent
developments in the Group.
Malabar Resources Equity Investment
The Company, through a wholly owned subsidiary, has acquired a 15% interest in Malabar
Resources Limited (Malabar) for a total investment of $94.4 million.
Malabar is an unlisted public company whose flagship asset is the Maxwell Mine, an underground
metallurgical coal project located 10kms south-west of Muswellbrook in the Hunter Valley.
Construction of the project commenced in May 2022.
The Company’s investment in Malabar:
• aligns with the Company’s strategy to invest its surplus cash into coal assets that are low on the
cost curve with long life approvals;
• adds meaningful equity tonnes at an attractive entry price investing alongside well respected
founders who have a strong track record of developing coal projects and companies;
• diversifies the Company’s asset base by providing exposure to metallurgical coal mined by low
impact, underground methods;
• facilitates delivery of a project with strong technical and operational foundations and the ability
to unlock value with the use of significant established infrastructure; and
• provides attractive investment returns over the life of the project with additional upside return
opportunities from diversified enterprises including exploration and agricultural assets and the
future development of an approved 25MW solar farm.
The Company’s investment in Malabar Resources was pursuant to an equity raising conducted by
Malabar Resources in which the Company acquired 75,530,455 ordinary shares at $1.25 per share
funded from existing cash. Malabar Resources’ equity raising closed over-subscribed, with total
equity capital raised of $250 million. The equity raised by Malabar, together with existing cash of
$22 million, a $165 million senior debt facility and $75 million pre-payment facility provides Malabar
with more than $500million to fully fund the development of the Maxwell Mine.
2
Mining leases for the Maxwell Mine were granted in November 2021 and the project has received
final state and federal approvals. The Maxwell Mine has an estimated life of 25+ years with more
than 75% of the product suitable for steel making. Proved and probable reserves total 144 million
tonnes1
.
Maxwell Mine will be developed in stages with bord and pillar mining and long wall development
targeting 3.0 to 3.6Mtpa over an initial four year period followed by long wall expansion increasing
forecast coal sales to 5.5 to 6.5Mtpa over the life of the project.
Development of the Maxwell Mine is substantially de-risked and capex is reduced by Malabar’s
ownership of existing surface infrastructure acquired from previous owners in 2018, with a
replacement value exceeding $300 million. Production costs are projected to be within the lowest
quartile for similar seaborne traded products.
Malabar’s assets also include:
• Approved 25MW Maxwell Solar Farm (Stage One) located on more than 105 hectares of
rehabilitated mine land within the NSW Government’s designated Hunter-Central Coast
Renewable Energy Zone and with close proximity to high voltage network infrastructure, with
the capacity to significantly increase large-scale solar generation and battery storage;
• Spur Hill exploration project (EL 7429); and
• Agricultural assets including the Merton Vineyard.
Malabar’s strategy is to deliver low-impact underground mines which target metallurgical products,
while co-existing and facilitating substantial sustainable, renewable enterprises.
Bengalla Exploration Licence Granted
The New South Wales Government has granted Bengalla Mining Company an Exploration Licence
(ELA 6263) for an area of 556 hectares adjoining the western side of the Bengalla Mine.
Bengalla is the Group’s cornerstone asset in which the Company has an 80% interest. Bengalla’s
mining operations are approved to produce up to 15.0Mtpa ROM coal until 2039. Production is
planned to increase from 12.6Mtpa to 13.4Mtpa over the next two years in response to sustained,
strong demand for high quality, high energy thermal coal.
Bengalla will conduct an exploration program over the area of ELA 6263 aiming to identify available
economic resource to enhance production from Bengalla.
The grant reflects the New South Wales Government’s support for the mining industry as an
important contributor to NSW regional employment and economic development and as NSW’s
largest source of export income.
1 Prepared in accordance with the JORC Code (2012 edition).
3
For more information please contact:
• Robert Bishop, Chief Executive Officer;
• Rebecca Rinaldi, Chief Financial Officer; or
• Dominic O’Brien, Executive General Manager & Company Secretary.
P: +61 7 3418 0500 E: cosec@newhopegroup.com.au
This ASX announcement was approved and authorised by the Board.
Termination of Undrawn Debt Facility
Following full repayment of the Group’s amortising secured loan facility (Debt Facility) from
operational cash flows as reported in the 31 October 2021 Quarterly Activities Report, the
Company has elected to terminate the undrawn Debt Facility prior to its maturity in November
2023.
Based on current cash balance and projected cash flows up to the period of maturity, there is no
reasonably foreseeable scenario in which the Group would require Debt Facility funding for general
corporate purposes.
The Credit Support facility has not been terminated and continues to be utilised by the Company,
mainly in relation to mining rehabilitation obligations at Bengalla.
The cancellation of the Debt Facility achieves cost savings and is a step forward in the execution of
a broader capital strategy seeking to maximise long-term investor value and alignment to overall
business strategy.
Operational Performance Update
While recent wet weather events have disrupted the operations at Bengalla, and the Hunter Valley
logistics chain that supports it, impacts have been partially offset by the further strengthening of
the coal price. During the weather event, conditions permitted Bengalla to undertake controlled
water discharges in accordance with existing approvals providing risk mitigation against future
weather events.
The past few months have seen heightened focus on maintaining energy security as a core
component of navigating a just transition to a decarbonised economy. This has supported thermal
coal pricing over the second half of the year and we expect pricing to remain at historically high
levels for the short to medium term. To support the demand for domestic energy, Bengalla has also
been able to sell more coal into the domestic market in addition to existing contracted domestic
supply while the Hunter Valley logistics chain has been disrupted by wet weather.
Overall, the Company looks forward to providing further operational and financial information in the
Quarterly Activities Report to be released in August 2022, and to releasing the full year financial
results on 20 September 2022.
=====================================================================
(DYOR)
i hold NHC
now a top ten holding after several years of looking like a major mistake
developments in the Group.
Malabar Resources Equity Investment
The Company, through a wholly owned subsidiary, has acquired a 15% interest in Malabar
Resources Limited (Malabar) for a total investment of $94.4 million.
Malabar is an unlisted public company whose flagship asset is the Maxwell Mine, an underground
metallurgical coal project located 10kms south-west of Muswellbrook in the Hunter Valley.
Construction of the project commenced in May 2022.
The Company’s investment in Malabar:
• aligns with the Company’s strategy to invest its surplus cash into coal assets that are low on the
cost curve with long life approvals;
• adds meaningful equity tonnes at an attractive entry price investing alongside well respected
founders who have a strong track record of developing coal projects and companies;
• diversifies the Company’s asset base by providing exposure to metallurgical coal mined by low
impact, underground methods;
• facilitates delivery of a project with strong technical and operational foundations and the ability
to unlock value with the use of significant established infrastructure; and
• provides attractive investment returns over the life of the project with additional upside return
opportunities from diversified enterprises including exploration and agricultural assets and the
future development of an approved 25MW solar farm.
The Company’s investment in Malabar Resources was pursuant to an equity raising conducted by
Malabar Resources in which the Company acquired 75,530,455 ordinary shares at $1.25 per share
funded from existing cash. Malabar Resources’ equity raising closed over-subscribed, with total
equity capital raised of $250 million. The equity raised by Malabar, together with existing cash of
$22 million, a $165 million senior debt facility and $75 million pre-payment facility provides Malabar
with more than $500million to fully fund the development of the Maxwell Mine.
2
Mining leases for the Maxwell Mine were granted in November 2021 and the project has received
final state and federal approvals. The Maxwell Mine has an estimated life of 25+ years with more
than 75% of the product suitable for steel making. Proved and probable reserves total 144 million
tonnes1
.
Maxwell Mine will be developed in stages with bord and pillar mining and long wall development
targeting 3.0 to 3.6Mtpa over an initial four year period followed by long wall expansion increasing
forecast coal sales to 5.5 to 6.5Mtpa over the life of the project.
Development of the Maxwell Mine is substantially de-risked and capex is reduced by Malabar’s
ownership of existing surface infrastructure acquired from previous owners in 2018, with a
replacement value exceeding $300 million. Production costs are projected to be within the lowest
quartile for similar seaborne traded products.
Malabar’s assets also include:
• Approved 25MW Maxwell Solar Farm (Stage One) located on more than 105 hectares of
rehabilitated mine land within the NSW Government’s designated Hunter-Central Coast
Renewable Energy Zone and with close proximity to high voltage network infrastructure, with
the capacity to significantly increase large-scale solar generation and battery storage;
• Spur Hill exploration project (EL 7429); and
• Agricultural assets including the Merton Vineyard.
Malabar’s strategy is to deliver low-impact underground mines which target metallurgical products,
while co-existing and facilitating substantial sustainable, renewable enterprises.
Bengalla Exploration Licence Granted
The New South Wales Government has granted Bengalla Mining Company an Exploration Licence
(ELA 6263) for an area of 556 hectares adjoining the western side of the Bengalla Mine.
Bengalla is the Group’s cornerstone asset in which the Company has an 80% interest. Bengalla’s
mining operations are approved to produce up to 15.0Mtpa ROM coal until 2039. Production is
planned to increase from 12.6Mtpa to 13.4Mtpa over the next two years in response to sustained,
strong demand for high quality, high energy thermal coal.
Bengalla will conduct an exploration program over the area of ELA 6263 aiming to identify available
economic resource to enhance production from Bengalla.
The grant reflects the New South Wales Government’s support for the mining industry as an
important contributor to NSW regional employment and economic development and as NSW’s
largest source of export income.
1 Prepared in accordance with the JORC Code (2012 edition).
3
For more information please contact:
• Robert Bishop, Chief Executive Officer;
• Rebecca Rinaldi, Chief Financial Officer; or
• Dominic O’Brien, Executive General Manager & Company Secretary.
P: +61 7 3418 0500 E: cosec@newhopegroup.com.au
This ASX announcement was approved and authorised by the Board.
Termination of Undrawn Debt Facility
Following full repayment of the Group’s amortising secured loan facility (Debt Facility) from
operational cash flows as reported in the 31 October 2021 Quarterly Activities Report, the
Company has elected to terminate the undrawn Debt Facility prior to its maturity in November
2023.
Based on current cash balance and projected cash flows up to the period of maturity, there is no
reasonably foreseeable scenario in which the Group would require Debt Facility funding for general
corporate purposes.
The Credit Support facility has not been terminated and continues to be utilised by the Company,
mainly in relation to mining rehabilitation obligations at Bengalla.
The cancellation of the Debt Facility achieves cost savings and is a step forward in the execution of
a broader capital strategy seeking to maximise long-term investor value and alignment to overall
business strategy.
Operational Performance Update
While recent wet weather events have disrupted the operations at Bengalla, and the Hunter Valley
logistics chain that supports it, impacts have been partially offset by the further strengthening of
the coal price. During the weather event, conditions permitted Bengalla to undertake controlled
water discharges in accordance with existing approvals providing risk mitigation against future
weather events.
The past few months have seen heightened focus on maintaining energy security as a core
component of navigating a just transition to a decarbonised economy. This has supported thermal
coal pricing over the second half of the year and we expect pricing to remain at historically high
levels for the short to medium term. To support the demand for domestic energy, Bengalla has also
been able to sell more coal into the domestic market in addition to existing contracted domestic
supply while the Hunter Valley logistics chain has been disrupted by wet weather.
Overall, the Company looks forward to providing further operational and financial information in the
Quarterly Activities Report to be released in August 2022, and to releasing the full year financial
results on 20 September 2022.
=====================================================================
(DYOR)
i hold NHC
now a top ten holding after several years of looking like a major mistake
bk1
Follow the money
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Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
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New Hope’s net profit jumped more than 1000 per cent to $983 million in the year to July 31, up from $79.4 million the previous year, driven by an increase in thermal coal prices to $281.84 a tonne in 2022 from $101.36 a tonne in 2021.
Revenue from ordinary activities grew 143 per cent to $2.6 billion while underlying EBITDA rose to $1,577.4 million from $367.2 million.
A final dividend of 31¢ a share, and a special dividend of 25¢ cents a share, fully franked, was declared.
Revenue from ordinary activities grew 143 per cent to $2.6 billion while underlying EBITDA rose to $1,577.4 million from $367.2 million.
A final dividend of 31¢ a share, and a special dividend of 25¢ cents a share, fully franked, was declared.
