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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Stanmore Coal Limited    SMR   AU000000SMR4

STANMORE COAL LIMITED

(SMR)
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Stanmore Coal Limited : Surat Basin Rail Gains Key Government Approval

12/05/2011 | 03:48am EST
ASX announcement ASX announcement 5 December 2011

Surat Basin Rail Gains Key Government Approval

The Queensland Government has approved the development scheme for the Surat Basin Infrastructure Corridor State Development Area which contains the route for the Surat Basin Rail ( SBR) link to the Port of Gladstone via the existing QR Network Moura rail line.
The Queensland Government has previously identified this rail line as critical to allow opening up of new mines in the Surat Basin to allow the export of coal from the Port of Gladstone.
The Surat Basin Rail Joint Venture is working under an exclusive mandate granted by the Queensland
Government to develop the project as an open access coal and freight railway.
Granting of this key Government approval will now allow the SBR joint venture to move to land acquisition and construction which we understand is scheduled to commence in late 2012 with first coal on rail due in 2015.
Stanmore Coal Limited (ASX:SMR; Stanmore Coal) has applied for five million tonnes of capacity on the SBR to deliver high quality export thermal coal from The Range project from 2015 onwards. The Range project is well located in the north of the Surat Basin some 27 km south east of the planned SBR line. Stanmore Coal has also obtained 7Mtpa of priority capacity rights at the proposed Wiggins Island Coal Export Coal Terminal Stage 2 (WICET 2) at Gladstone which will enhance the Company's competitive position in the event there is excess demand for WICET 2 port allocation. The Company understands that capacity at SBR and WICET 2 is due to be allocated shortly, in advance of planned financial close of both projects in mid-2012.
Stanmore Coal Managing Director, Nick Jorss, said "We are very pleased to see this key approval milestone achieved which clears the way for the construction of the Surat Basin Rail. This is an important event for The Range, our 5Mtpa export thermal coal project which remains on track to commence construction in 2013 and deliver coal two years later."
On behalf of the Board
DP Cornish
Company Secretary

1 ASX code: SMR ASX announcement For further information, please contact:

Mr Nick Jorss

Managing Director

07 3238 1000

About Stanmore Coal Limited (ASX code: SMR)

Stanmore Coal is a growth focused, pure play coal exploration and development company with a number of prospective coal projects and exploration areas within Queensland's Bowen and Surat Basins. Stanmore Coal is focused on the creation of shareholder value via the identification and development of coal deposits, with a focus on the prime coal bearing regions of the east coast of Australia.

Stanmore Coal holds 100% interests in its seven coal project areas, covering over 1,080 km2 in total. These projects include significant deposits of open pit coking and thermal coal and are typically well located for export infrastructure.

Stanmore Coal Limited ACN 131 920 968

p: +61 (7) 3238 1000 | f: +61 (7) 3212 6250 | e: info@stanmorecoal.com.au | w: www.stanmorecoal.com.au

Street address: Level 11, 10 Market Street, Brisbane QLD 4000 | Postal address: GPO Box 2602, Brisbane QLD 4001

2 ASX code: SMR

© Publicnow 2011
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Sales 2021 261 M 202 M 202 M
Net income 2021 4,00 M 3,10 M 3,10 M
Net cash 2021 58,0 M 45,0 M 45,0 M
P/E ratio 2021 39,5x
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EV / Sales 2022 0,70x
Nbr of Employees -
Free-Float 3,37%
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Mean consensus SELL
Number of Analysts 1
Average target price 0,50 AUD
Last Close Price 0,79 AUD
Spread / Highest target -36,7%
Spread / Average Target -36,7%
Spread / Lowest Target -36,7%
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Marcelo Matos Chief Executive Officer & Director
Frederick T. Kotzee Chief Financial Officer
Dwi Prasetyo Suseno Non-Executive Chairman
Leandro Pires General Manager-Operations
Sen Ming Lim Non-Executive Director
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