September 2020 Quarterly Report
Continued improvement in safety performance, rolling 12-month TRIFR at a new historical record of 3.3 (since first recorded injury in May 2016)
Strong rebound in quarterly sales volume as term customer operations have normalised
No ongoing disruptions to operations resulting from COVID-19
ROM (Run of Mine) coal mined of 641kt for the quarter
Mine planning optimisation work undertaken to drive cost efficiencies
Isaac Downs Bankable Feasibility Study (BFS) completed. Consenting remains on track with work ongoing to finalise the Supplementary Environmental Impact Statement (EIS)
BFS completed for Isaac Downs Project
The Bankable Feasibility Study (BFS) has confirmed that attractive metallurgical coal for steel making will be produced from Isaac Downs
Production levels of ROM (Run of Mine) coal matched to the 3.5Mtpa (million tonnes per annum) nameplate capacity at the Isaac Plains CHPP (Coal Handling and Preparation Plant)
FOB costs (including state royalties) are projected at $108/saleable tonne for the first five years after which increasing strip ratio will drive an increase in costs with an overall life of mine average of $129/saleable tonne forecast
All Resources are declared as Measured and Indicated as defined under the JORC Code (24.7 Mt Measured and 11.5 Mt Indicated) a total of 36 Mt*
Recoverable Coal Reserves of 25.9 Mt ROM of which 22.3 Mt is classified as Proved Reserves and 3.6 Mt is classified as Probable Reserves*
Marketable Coal Reserves at Isaac Downs now totals 17.9 Mt (17.3 Mt is coking coal at 9.1-9.5% ash and 0.6 Mt is thermal coal)
Attractive investment proposition established with an all-in capital cost of A$85.2M generating an NPV (net present value @9%) of A$215M and IRR (internal rate of return) of 139%
* refer to ASX announcement dated 21 August 2020 - Isaac Downs Resource and Reserve Update
Annual Report 2020
Stanmore Coal has reported a solid operating performance in a year of significant change for the Company and uncertainty as a result of the COVID-19 pandemic.
The focus on operational excellence and extending the economic life of the Isaac Plains Complex has underpinned a solid performance in a challenging year for the industry and our business.
Revenue from operations $364.5m
Underlying EBITDA $87.4m
Record ROM coal production of 3.02Mt
Product coal 2.39Mt ahead of FY20 guidance
Appendix 4G and Corporate Governance Statement
The Corporate Governance Statement is accurate and up to date as at 30 September 2020 and has been approved by the board. The annexure includes a key to where our corporate governance disclosures can be located.
Coal mine wins nod as state heads to polls
Ms Palaszczuk – who visited Stanmore’s Isaac Plains mine on a tour of the Bowen Basin yesterday –said Labor was backing the mining sector, which creates jobs. ‘‘We have one job and that’s to ensure Queenslanders have jobs,’’ she said.
Ms Palaszczuk stressed the distinction between thermal coal and coking coal, saying metallurgical coal was the only way to make steel, which was ‘‘going to be around for a long time to come’’.
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Annual General Meeting Information
Stanmore Coal advises that its Annual General Meeting (AGM) will be held on Tuesday, 24 November 2020 at 12.00 pm (Australian eastern standard time).
Details of the AGM will be provided in the Notice of Meeting document to be released in October. Persons wishing to be consider for election as a Director must nominate by the closing date Wednesday, 7 October 2020.
Appointment of Chief Financial Officer
The Board confirms the appointment of Mr Frederick Kotzee as Chief Financial Officer of the company following his appointment as Interim CFO in June 2020.
Junior's day on the green
Junior golfers from across Central Queensland teed off at Moranbah Golf Club in August as part of the Moranbah Junior Open — an annual event that sees budding youngsters compete in their respective divisions for player of the year.
Stanmore Coal was proud to contribute gazebos and banners, as well as $2,500 towards trophies and prizes on the day, which included golf bags, backpacks, hats and golf balls.
All company announcements can be found on the ASX website at www.asx.com.au.