Notification of Dividend/Distribution
STRONG OPERATING RESULTS UNDERPINS 26% INCREASE IN H1 NET PROFIT
The Company maintains its production guidance for FY20 of 2.35Mt.
Underlying FOB Cost guidance for FY20 is $107/t (excluding state royalties), an increase from $106/t in H1FY20.
Whilst the Company sells the majority of its coal into Japan, Korea, India and Europe under term contracts, it is continuing to develop new customers and markets.
The Company is targeting a dividend payout ratio of between 20% to 30% of Net Profit After Tax subject to the prevailing market conditions at the time any dividend is declared.
Highlights for the half-year ending 31 December 2019 include:
Notification of issue, conversion or payment up of equity +securities: 14 February 2020
Stanmore Coal Limited (Stanmore) announces the resignation of Mr Darren Yeates as a Non-Executive Director.
Mr Stewart Butel, Chairman of Stanmore, and the Stanmore Board thank Mr Yeates for his valuable contribution to the Company, as a member of the Board, as Chairman of the Health, Safety, Environment and Community Committee and as a member of the Audit & Risk Management Committee.
CHRIS LEES, Townsville Bulletin
January 6, 2020 7:12am
Stanmore Coal has submitted an application to the Department of Environment and Energy to expand its Isaac Plains Complex Mine, near Moranbah.
The complex is made up of the original Isaac Plains Mine and Isaac Plains East mining areas.
Stanmore is planning to extend the Isaac Plains East mining area.
In its application Stanmore said the extension of the open cut pits would provide access to an additional 8.2 million tonnes of coking coal.
Stanmore Coal is proud to be part of the community, and to make a significant contribution to the Isaac region’s economic and community life as an employer and coal exporter. We support our employees to live locally, and are committed to our environmental and social responsibilities as a mine owner.
As part of our regional involvement, the Stanmore Coal Isaac Plains Community Grant Program provides up to $5,000 funding for local projects, initiatives and events that make a real difference to community wellbeing, and make our community a great place to live.
Applications for the next round of Stanmore Coal Isaac Plains Community Grant Program will reopen on 1 January 2020.
All company announcements can be found on the ASX website at www.asx.com.au.