Queensland’s New Coal Royalty Program
Despite the new royalty structures introduced in Queensland last week, coal miners with well managed operations are still likely to obtain profitability for the foreseeable future.
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Stanmore Resources Limited
an Australian resources company with operations and exploration projects in the Bowen and Surat Basins.
Our foundation asset is the Isaac Plains Complex, which comprises our current open-cut operations at Isaac Plains East and the Isaac Downs Open Cut, as well as the Isaac Plains Underground development project.
We have a strong track record of performance in developing, operating and rehabilitating coal resources to produce predominately export metallurgical coal for steel making.
On 18 May 2020, the on-market takeover offer by Golden Investments (Australia) Pte. Ltd. (Golden Investments) closed and Golden Investments acquired 75.33% of the company’s shares. Refer to ASX announcements dated 19 May 2020 and 25 May 2020.
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News
Stanmore Soars on News of BHP Coal Deal
Shares in Stanmore Resources soared as much as 24% on Monday and closed up 14% after announcing a deal to buy low grade metallurgical coal assets from BHP for $A1.8 billion.
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Is There Value In Unloved Coal Stocks?
In adversity lies opportunity and some deep-pocketed investors have recognised that, like the Stone Age, the era of coal won’t end overnight.
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Analyst Views
SMR – Morgans rates the stock as Add
The broker lowers its target price to $3.35 from $3.80 and the Add rating is unchanged.
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SMR – Morgans rates the stock as Add
Morgans initiates coverage of Stanmore Resources with an Add rating and $3.80 target price.
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