SMR - Stanmore Resources

[Miner]

Still one furnace running at Port Kembla so far as I'm aware and also there's some other, much smaller, uses of met coal within Australia too.

Thanks @Smurf1976
I was unaware that Port Kembla has a blast furnace. Yes Whyalla has for sure. Visited there in 2018. Very old furnace there. Last time I ran blast furnaces in 1992. That was old but whyalla was no different in 2018.

 

[rederob]

Another party I missed last year, but got 20k tickets today.
I won't get the next 8 cent ff divvy, but am not too worried.
SMR has been dealing with Golden Investment's push for a few things, including an EGM, to bring their desires to bear.
This was settled last week and no EGM will now take place, but some concessions to them were made. One was to appoint Jimmy Lim as a non-executive director. While a minor issue, Golden Investments is very keen to return greater than average profits to investors, them being a major investor. So my reckoning is that they will prioritise returns rather than fund shorter term expansions to production.
The other reason I jumped on board is because their greater production is coking coal, and not thermal. Thermal coal is going to struggle pricewise as natural gas becomes an increasingly better option in energy markets.

 

[System]

On May 14th, 2021, Stanmore Coal Limited changed its name to Stanmore Resources Limited.

 

[Dona Ferentes]

The directors are recommending a change of name for the Company to Stanmore Resources. The Board believes that the name of the Company should be reflective of our aim to continue developing and strengthening our core metallurgical coal business, but also exploring other resource diversification opportunities, including but not limited to the renewable energy space.

In that vein a company called Stanmore Green has been created. The vision for this company is to leverage our assets and execution capabilities to explore and pursue diversification opportunities in the renewable energy space offering synergistic and value add to our existing and future operations.

hmm. plants good, fossilised plants no good

 

[Ann]

Oh cool, look at SMR's chart folks! Is this or is this not a rock and roll cup and handle formation on the 12 year monthly chart? I can't draw a measured move calc as my charts don't go high enough. Black gold?

 

[finicky]

Coal - Stanmore up 57% after announcing big successful institutional entitlement raising.

 

[Ann]

Oh cool, look at SMR's chart folks! Is this or is this not a rock and roll cup and handle formation on the 12 year monthly chart? I can't draw a measured move calc as my charts don't go high enough. Black gold?

Referring back to my previous post about a Cup & Handle pattern, at the time I couldn't draw an outcome for the pattern as it was so high. Over time I was able to draw an outcome, I have been watching this level getting closer and closer and yesterday after riding this stock from around January this year I sold it yesterday at 2.59 just sitting at the outcome level of 2.60. Let's see if my calculations turn out to be correct.

 

[Dona Ferentes]

we've always known it's not a good idea to stand between a Treasury and a new tax, or, technically, three new progressive royalty tiers being introduced in addition to the current structure for Qld coal producers.

After a good run on sustainably higher coal prices, from $1 at the start of the year to as high as $2.90 in May, SMR has dived to around $1.78 a share.

Stanmore Resources has hit back at changes to the coal royalty regime announced by the Queensland government as part of its budget. The company said it is analysing the impact of the additional taxes on the business and will provide an update in due course.

“Stanmore is very disappointed with these extraordinary tax increases given its commitments to the Isaac Downs Project and re-opening of the Millennium and Mavis mines, as well as the very recent and significant $US1.2 billion investment in the Queensland coal sector with the acquisition of our 80 per cent in BMC,” chief executive Marcelo Matos said.

“Royalty rates in Queensland were already among the highest in the world prior to these increases and come at a time when the Queensland coal industry was just recovering from the losses experienced during the market downturn in 2020 and 2021. The increases to the royalty rates without formal notice or consultation with the industry are unprecedented.

 

[divs4ever]

we've always known it's not a good idea to stand between a Treasury and a new tax, or, technically, three new progressive royalty tiers being introduced in addition to the current structure for Qld coal producers.

After a good run on sustainably higher coal prices, from $1 at the start of the year to as high as $2.90 in May, SMR has dived to around $1.78 a share.

Stanmore Resources has hit back at changes to the coal royalty regime announced by the Queensland government as part of its budget. The company said it is analysing the impact of the additional taxes on the business and will provide an update in due course.

NOW i see the logic of NHC's switch of focus to NSW

i wonder if this will hurt AZJ ??

 

[bk1]

SMR announces the final acquisition of 20% remaining of BHP Matsui. Now has full control of a portfolio across the Bowen basin.
SP up 9% today, along with other coal stocks.
My initial target is $2.75....

 

[bk1]

SMR Weekly chart, at, or close to a resistance level.
Added to the starter position from early October.

 

[Dona Ferentes]

I wonder how the luvvies will respond, with the notification by Argo, a LIC, that SMR is a recent addition to its portfolio?

There is an ESG section on the ARG website

ESG - Argo Investments

Environmental, Social and Governance Overview An analysis of environmental, social and corporate governance (ESG) factors forms an inherent part of our investment process. Over many decades of investing, we recognise that ESG issues can have significant financial impacts on a company’s long-term...

www.argoinvestments.com.au

(PS . good on 'em; just wondering how much flack will arise?)

 

[Miner]

 

[rcw1]

Good morning
quarterly published today (22/10/24) see attached:

Flagged a strong fourth quarter sales performance after a strong result in the three months ended September 30. Saleable production for the third quarter was “strong, supported by numerous production records, and continues to track to guidance,” the company has revealed. “We ended the quarter with healthy levels of product and ROM (run of mine) stockpiles across our portfolio, which should also support 4Q 2024 sales performance.”

The group produced 5.8 million tonnes of coal, with saleable production of 3.8Mt and total coal sales of 3.9Mt, supported by coal mining and production records at its South Walker Creek and Poitrel operations.

It closed the quarter with consolidated cash of $US322m.

On market conditions and pricing, the group said the prime hard coking coal price weakened through the quarter with a late surge aligned to the announcement of stimulus measures by the Chinese central bank.

Prime hard coking coal closed the quarter at approximately $US205 per tonne, from an opening level of approximately $US245 per tonne and a low of around $US180 per tonne during the quarter.
While Australian exports performed strongly during the quarter, this was partly attributable to the release of cargoes that were subject of infrastructure delays late in the second quarter of 2024. Also, the anticipated return of buying interest from the Indian market did not fully materialise as anticipated within the quarter, primarily due to the ongoing surplus of steel and coke supply available in the market during the period.

Not holding.

Kind regards
rcw1