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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  New Hope Corporation Limited    NHC   AU000000NHC7

NEW HOPE CORPORATION LIMITED

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New Hope : (03/12/20) Feds sign off on New Acland Stage 3 Read More >

12/02/2020 | 05:54pm EST

The New Acland Stage 3 project took a major step forward recently with the approval of its Groundwater Management and Monitoring Plan (GMMP) by the Federal Government.

This was the final approval required at a Federal level and means the project only needs State sign off to become a reality.

New Hope Group Chief Executive Officer, Reinhold Schmidt said the approval of the GMMP was a vital piece of the overall puzzle.

'In approving our GMMP, the Federal Government is confirming the Stage 3 project will have manageable impacts on groundwater in the area we operate,' Mr Schmidt said.

'The plan, and the associated modelling, has now been thoroughly reviewed by four State and Commonwealth regulatory regimes as well as many independent experts, including Geoscience Australia, the CSIRO and the Independent Expert Scientific Committee. In fact, this is potentially the most comprehensive GMMP in existence.

'The approval of this plan should put to rest the fanciful claims of the projects objectors that New Acland Stage 3 will destroy the supply of groundwater in the region.

'We thank the Federal Government for the work they have done to finalise their part of the approvals process.'

Mr Schmidt said it is now over to the State Government to get the project up and running.

'All that is stopping the project now is the granting of our mining leases and the associated water licence from the Queensland State Government,' Mr Schmidt said.

'It was great to see the new Minister, the Hon Scott Stewart MP, use his first speech in the Queensland Parliament to talk up the importance of the sector to the state economy.

'I am looking forward to meeting with the Minister in the near future to work with him on a way forward for the project.

'This project will create much needed jobs for the local area and provide the economic boost the State Government is looking for post COVID-19.'

Once approved the New Acland Stage 3 project will create 187 new jobs within the first six months, 487 jobs within 18 months and inject $7 billion into the economy.

Disclaimer

New Hope Corporation Limited published this content on 03 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2020 22:54:01 UTC


© Publicnow 2020
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Financials
Sales 2021 838 M 645 M 645 M
Net income 2021 -7,14 M -5,49 M -5,49 M
Net Debt 2021 269 M 207 M 207 M
P/E ratio 2021 -143x
Yield 2021 0,88%
Capitalization 1 249 M 961 M 961 M
EV / Sales 2021 1,81x
EV / Sales 2022 1,90x
Nbr of Employees 1 024
Free-Float 94,4%
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Mean consensus HOLD
Number of Analysts 6
Average target price 1,58 AUD
Last Close Price 1,50 AUD
Spread / Highest target 40,0%
Spread / Average Target 5,38%
Spread / Lowest Target -13,3%
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Managers and Directors
NameTitle
Reinhold Hans Schmidt Chief Executive Officer
Robert Dobson Millner Non-Executive Chairman
Rob Bishop Chief Financial Officer & Secretary
Ian M. Williams Independent Non-Executive Director
Todd James Barlow Non-Executive Director
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