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    SMR   AU000000SMR4

STANMORE RESOURCES LIMITED

(SMR)
  Report
Delayed Australian Stock Exchange  -  02:10 2022-09-27 am EDT
2.040 AUD   +3.03%
09/19Stanmore Resources Limited(ASX:SMR) added to S&P Global BMI Index
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08/12Australian shares end lower as miners, tech stocks weigh
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08/12Stanmore Resources Limited (ASX:SMR) entered into a share sale agreement to acquire remaining 20% stake of Stanmore SMC Holdings Pty Ltd from Mitsui & Co., Ltd. (TSE:8031) and Mitsui & Co. (Australia), Ltd. for USD 380 million.
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Stanmore to buy Mitsui's 20% stake in Queensland coal venture for $380 mln

08/11/2022 | 07:26pm EDT

Aug 12 (Reuters) - Australia's Stanmore Resources said on Friday it would buy the remaining 20% stake in a metallurgical coal venture in Queensland from Japanese trading house Mitsui & Co for $380 million.

The deal, which the coal explorer plans to fund through internal resources, comes months after it agreed to buy BHP Group's 80% stake in the venture for up to $1.35 billion.

Stanmore, majority-owned by Singapore-listed Golden Energy and Resources, said the deal would cement its position as a leading metallurgical coal miner in the Bowen Basin.

"Having 100% control of South Walker Creek and Poitrel, as well as Wards Well and other projects, allows Stanmore to maximise value amongst our assets in the region," said Chief Executive Officer Marcelo Matos.

The Australian firm said it expects to continue to have sufficient internal sources to meet its ongoing cash needs and fund the deal without issuing new debt or raising capital.

Stanmore expects the venture, now renamed as Stanmore SMC Pty Ltd, to shortly declare and pay a significant dividend. The deal is expected to close in the fourth quarter of 2022. (Reporting by Upasana Singh in Bengaluru; Editing by Aditya Soni)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LIMITED 2.76% 37.2 Delayed Quote.10.31%
GOLDEN ENERGY AND RESOURCES LIMITED 1.25% 0.81 Delayed Quote.175.86%
MITSUI & CO., LTD. 1.20% 3128 Delayed Quote.13.49%
MSCI SINGAPORE (GDTR) -0.44% 5346.43 Real-time Quote.-14.46%
STANMORE RESOURCES LIMITED 3.03% 2.04 Delayed Quote.0.00%
All news about STANMORE RESOURCES LIMITED
09/19Stanmore Resources Limited(ASX:SMR) added to S&P Global B..
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08/12Australian shares end lower as miners, tech stocks weigh
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08/12Stanmore Resources Limited (ASX:SMR) entered into a shar..
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08/11Stanmore Resources Swings to H1 Profit on Higher Coal Sales, Prices; Shares Jump 6%
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08/11Mitsui & Co. to Sell 20% Stake in Australian Coal Business for US$380 Million
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08/11Stanmore to buy Mitsui's 20% stake in Queensland coal venture for $380 mln
RE
08/11Stanmore Resources to buy Mitsui's 20% stake in BHP JV for $380 million
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08/11Stanmore Resources Limited Reports Earnings Results for the Half Year Ended June 30, 20..
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More news
Financials
Sales 2022 3 242 M 2 089 M 2 089 M
Net income 2022 - - -
Net Debt 2022 971 M 626 M 626 M
P/E ratio 2022 -
Yield 2022 -
Capitalization 1 839 M 1 185 M 1 185 M
EV / Sales 2022 0,87x
EV / Sales 2023 0,54x
Nbr of Employees -
Free-Float 26,7%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 2,04 AUD
Average target price 3,45 AUD
Spread / Average Target 69,0%
EPS Revisions
Managers and Directors
Marcelo Matos Chief Executive Officer & Director
Shane Young Chief Financial Officer
Dwi Prasetyo Suseno Non-Executive Chairman
Leandro Pires General Manager-Operations
Sen Ming Lim Non-Executive Director