June 2019 Quarterly Production Report

June 2019 Quarterly Production Report

18th July 2019

Highlights

  • Record saleable coal production of 721kt (annualised rate of 2.9Mt) in the June quarter
  • Strong coal sales of 688kt in the June quarter
  • Net Cash up from $58.4m (31 Mar 2019) to $90.5m (30 June 2019)
  • Full Year production of 2.39Mt product, was above guidance of 2.3Mt
  • Full Year Underlying EBITDA of $154m to $156m (subject to audit) is expected to be at the top end of previous guidance ($140m to $155m)
  • An interim fully franked dividend of 3cps was paid on the 30th of April 2019
  • June 2019 quarter semi-soft coking coal benchmark (index-linked, backward looking) set at US$129/tonne, with the September 2019 quarter (forward looking) benchmark set at US$124/tonne
  • Isaac Downs consenting on track with draft EIS Terms of Reference lodged
NRW ASX announcement - agreement on Isaac Plains East

NWH ASX announcement - agreement on Isaac Plains East

3rd July 2019

NRW Holdings Limited (ASX:NWH) is pleased to announce that its wholly owned subsidiary Golding Contractors Pty Ltd (Golding), have reached agreement with Stanmore Coal to increase overburden removal capacity with the addition of a third truck and excavator fleet.

During the fiscal year 2019 the mine has continued to increase production. The new contract mine plan is seeking to sustain current coal production volumes of circa 3 million run of mine (ROM) tonnes per annum.
Stanmore Coal investing in open cut efficiency

Stanmore Coal investing in open cut efficiency

3rd July 2019
  • Stanmore Coal is to acquire a new 600-tonne class excavator which will increase overburden removal productivity rates and reduce average unit overburden costs.
  • The acquisition of a new excavator will maintain ROM coal volumes from Isaac Plains East in the short term and allow accelerated ramp-up of the Isaac Downs Project once the approvals are granted.
  • Amendment to the Mining Services Agreement with Golding (ASX: NWH) agreed to include the new excavator and supporting trucking fleet.
  • Isaac Plains Underground Project deferred as Stanmore Coal prioritises its Isaac Downs Project which has higher margin ROM coal to feed the CHPP.
Stanmore completes Debt Refinancing

Stanmore completes debt refinancing

1st July 2019

The Board of Stanmore Coal Limited is pleased to announce it has refinanced its bonding and working capital facility with its existing financier, Taurus, and established a new bonding facility with Liberty Speciality Markets (Liberty).

Highlights

  • Extension of Taurus facilities term to 30 June 2022 (previously maturing 15 November 2019)
  • Interest rate reduction on drawn funds to 8.0% (previously 10.0%)
  • Reduction in total facility to US $40 million (previously US $51 million)
  • Established a new bonding facility with Liberty for A$20 million at a premium rate of 4.7% p.a.

All company announcements can be found on the ASX website at www.asx.com.au.