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Joelton
Supreme |
15-Aug-2022 08:42
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Golden Energy and Resources reports 859% earnings surge, sees softer coal prices ahead
Golden Energy and Resources, which mines coal and gold, has reported earnings of US$279 million for 1HFY2022 ended June, up 859% y-o-y, as contributions from its newly acquired stake in an Australian coal mine kicks in.
Revenue in the same period was up 201% y-o-y to US$2.43 billion, as the company benefitted from not just higher selling prices of coal but also a two-month contribution upon completion of taking a 80% stake Stanmore SMC, the Australian miner, for US$1.35 billion.
The remaining 20% stake, now held by Mitsui, will also be sold to Stanmore for US$380 million.
The coal industry has seen higher prices over the last year or so because of the recovery from the pandemic followed by spillover effects from energy supply chain disruption triggered by the war between Russia and Ukraine.
Gear warns that cost of diesel, labour, explosives, and so on, have increased significantly too.
Cash costs (excluding royalties) for the energy coal &ndash used to generate power - increased from US$23 per tonne in 1H2021 to US$34.1 per tonne in 1H2022.
On the other hand, cash costs (excluding royalties) for metallurgical coal &ndash used to refine iron - decreased from US$100 per tonne to US$87.3 per tonne due to better efficiency and contribution from SMC, which is more cost effective.
Gear&rsquo s finance costs was up from US$32.1 million in 1H2021 to US$41.3 million in 1H2022, mainly due to financing costs incurred on the US$625 million loan taken out to fund the SMC deal.
As at June 30 2022, Gear&rsquo s total debt amounted to US$1.6 billion, versus cash and equivalents of US$932.9 million, up from US$379.8 million as of Dec 31 2021.
See also: Meta Health reports $2.8 mil loss for 1HFY2022, sees new healthcare business picking up
Gear says that benchmark coal price in Indonesia, which hit US$105.1 per tonne in March this year, has dropped to US$83.6 per tonne last month and is likely to further drop to US$52.1 per tonne next year.
The drop in supply originally seen, triggered by the war between Russia and Ukraine, is &ldquo unlikely&rdquo to be &ldquo as large as previously expected,&rdquo the company says on Aug 12.
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msksmsks
Supreme |
15-Aug-2022 08:23
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Below is an extract fm the press release
Stanmore expecting to declare and pay a significant dividend being majored owned by GEAR, wl this provide some clues that shareholders wl be rewarded too. Cheers
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msksmsks
Supreme |
15-Aug-2022 08:08
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Slow and steady.....gradually wl be heading there and abv
Mkt is efficient and fwd looking 1H22 result already awesome juz merely 20% contribution fm the acquisition. Imagine the 2H22 when the main bulk coming on board. U think share price wl remain subdue or moving higher... As one forumers rightly pointed out....As.long mgmt knows how to reinvest and grow the company, investors shld be happy. Cheers
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wehuattogether88
Supreme |
15-Aug-2022 07:28
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Do not expect too much, just look at Geo as an example.
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TraderBen
Supreme |
15-Aug-2022 07:01
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I won?t mind with share price surging to 80 cents
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msksmsks
Supreme |
14-Aug-2022 18:12
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Stanmore, which is developing its Isaac Downs coking coal project in the Bowen Basin, expects the venture to shortly declare and pay a significant dividend
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msksmsks
Supreme |
14-Aug-2022 18:06
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https://www.mining.com/stanmore-coal-pays-mitsui-380m-for-full-control-of-queensland-coal-mines/ | ||||
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msksmsks
Supreme |
13-Aug-2022 14:47
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Well said, my friend Hv a great wkend too. Cheers
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stlimst
Master |
13-Aug-2022 14:41
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Have you ever wonder why Berkshire Hathaway never pay a single dime of dividend despite the great performance of the company? Answer : Warren Buffett believe money should be better spent - for reinvestment rather than paying dividend. Companies have different strategies when it comes to utilisation of funds - no right, no wrong. Golden Energy obviously wamts to reinvest and they have done so in the completing the acquisiton of teh remaining 20% of SMC. They may be looking for more investment/aquisition given the large war chest it has accumulated. For as long as management can grow the company, investors should be happy. If you are looking for dividend payout, go for Geo - they are paying mouth-watering dividend - every quarter!! I have got both Golden and Geo in my portfolio and happy to see capital appreciation as well as dividend returns. Good afternoon and have a great weekend!
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Everyday
Elite |
13-Aug-2022 14:12
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Golden Energy and Resources&rsquo H1 earnings surge to US$279m on acquisition, higher coal pricesFRI, AUG 12, 2022 - 8:23 PM
UPDATED FRI, AUG 12, 2022 - 8:25 PM
 Group revenue trebled to US$2.4 billion in the first 6 months of FY2022, from US$806.7 million in the previous year.
PHOTO: GOLDEN ENERGY AND RESOURCES
GOLDEN Energy and Resources (Gear) on Friday (Aug 12) posted a 859.1 per cent increase in earnings to US$279 million for the first half ended June, from US$29.1 million in the same period last year. Earnings per share (EPS) surged to US$0.11, from US$0.0124 in the year-ago period. Group revenue trebled to US$2.4 billion in the first 6 months of FY2022, from US$806.7 million in the previous year. The increase was largely due to 2 months&rsquo contribution by Stanmore SMC &ndash formerly known as BHP Mitsui Coal &ndash following the completion of Gear&rsquo s acquisition of an 80 per cent interest in the company in early May. An increase in the average selling price (ASP) of energy and metallurgical coal also contributed to the higher revenue. Revenue from the Metallurgical Coal segment soared to US$1.1 billion in H1, from US$72.3 million in the year-ago period, largely attributed to the consolidated results from Stanmore SM Stay updated witBT newsletterPost-acquisition, revenue from the segment rose to 45 per cent of group revenue in H1, compared to 9 per cent in the previous year. In a separate bourse filing before market open on Friday, Gear also announced that it is acquiring the remaining 20 per cent interest in Stanmore SMC. The ASP in the Metallurgical Coal segment more than quadrupled to US$376.71 per tonne in H1, from US$88.80 per tonne in the year-ago period. Sales volume more than trebled to 2.9 million tonnes, from 0.8 million tonnes in the same period last year. In the 2 months since acquisition, Stanmore SMC contributed to 1.8 million tonnes of this sales volume. In the Energy Coal segment, the ASP increased to US$73.74 per tonne in H1, from US$42.71 per tonne in the previous year. Sales volume inched up to 18.1 million tonnes, from 17.2 million tonnes in the year-ago period. Shares of Gear closed 1.9 per cent or S$0.01 higher at S$0.54 on Friday, before the results were announced. |
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ozone2002
Supreme |
13-Aug-2022 12:09
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Geo has dividend and capital appreciation geo financials in terms of revenue vs earnings % is more superior than golden
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msksmsks
Supreme |
13-Aug-2022 12:01
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Yes....final lap of acquisition...
Straits trading also reported few folds of NP for 1H22 yet did not declare any dividend citing funding acquisition but stock price gap up . Golden Energy 1H22 already fantastic and full year wl be mind blowing and I wuld expect Angpow (dividend) for their full year result Once acquisition exercise is over. Looking fwd for the price to escalate to new heights Cheers
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Timer78
Veteran |
13-Aug-2022 09:32
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Surge on Monday! | ||||
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Catrade
Master |
13-Aug-2022 01:29
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Golden Energy is likely preserving its cash for the below acquisition: This acquisition is expected to complete in Q4, and by than its H22022 result will be even more spectacular, maybe FY2022 EPS of 40c if the Therm/Met coal prices remain at current level. The is another advantage of this acquisition according to Stanmore' s management : Reasons for the Transaction The acquisition of the remaining 20% interest in SMC will allow Stanmore to achieve full synergies between the SMC operations and Stanmore&rsquo s other operations. From an accounting and tax perspective, it will allow SMC to join the Stanmore tax consolidated group and benefit from the associated efficiencies. The Transaction also directly aligns with Stanmore&rsquo s investment strategy to streamline and develop its existing operations and maximise the geographical synergies from its existing infrastructure. Golden definately has a very bright future, investors can look forwards to Analysts upgrading its TP, very soon its share price will shot through the 80c mark...... STANMORE TO ACQUIRE REMAINING 20% INTEREST IN SMC FROM MITSUI As previously announced, on 3 May 2022, Stanmore Resources Limited (&ldquo Stanmore&rdquo or the &ldquo Company&rdquo ) (ASX: SMR) completed the acquisition of BHP Minerals Pty Ltd&rsquo s 80% interest in BHP Mitsui Coal Pty Ltd, now renamed Stanmore SMC Pty Ltd (&ldquo SMC&rdquo ), through the acquisition of all the shares in Dampier Coal (Queensland) Proprietary Ltd (&ldquo Dampier Coal&rdquo ). The Company is now pleased to announce that its wholly owned subsidiary, Dampier Coal, has signed a definitive share sale agreement (&ldquo Share Sale Agreement&rdquo ) with Mitsui & Co. (Australia) Ltd and Mitsui & Co., Ltd (together, &ldquo Mitsui&rdquo ) to acquire the remaining 20% interest in SMC held by Mitsui (the &ldquo Transaction&rdquo ). |
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fruitfulness
Veteran |
12-Aug-2022 23:00
Yells: "May the Lord God establish the works of my hands!" |
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Anyway, the board of directors and investor relations, ought to do something this time! There is still time for restitution! Basic earning of 11 US cts per share, and not even sharing 2 US cts with minority shareholders speak volumes about thoughtlessness, unkindness and a sense of blackness about them. ( I am heartened by another counter PCRD whiich just announced div in specie (in the form of HKT share staped units). It roughly amounts to S$ 9.5 cts per share. This makes a very good Friday night for me and PCRD shareholders!)
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sweet639
Veteran |
12-Aug-2022 22:52
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profit increase so much, never declare dividends, you are Not the only one who is unhappy many shareholders supporting GEAR are also unhappy.
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fruitfulness
Veteran |
12-Aug-2022 22:00
Yells: "May the Lord God establish the works of my hands!" |
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Ya, same sentiment here. I already feedback during last semester, if they want to conserve cash, the board of directors could issue out cash dividend to those in the public float (about 21%) and pay the patriarch' s family in scrip dividends. Simply don' t have shareholders' interest in mind! That' s why they are so pathetic (and stinkingly stingy), not being able to think out of the box!
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Spider456
Senior |
12-Aug-2022 21:48
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buy geo geo better
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gnail23
Member |
12-Aug-2022 21:43
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Making so much $$$$ but not giving dividend just dont make me happy lor | ||||
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fruitfulness
Veteran |
12-Aug-2022 21:01
Yells: "May the Lord God establish the works of my hands!" |
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Now, with the stellar performance in 1H22 and with the basic EPS coming in at US$0.11, one should expect the full FY basic EPS to hit US$0.22 easily, since only two months of BMC was accounted for in 1H22. That means an EPS of S$0.30 at the least. Share price should at the very least zoom past 60 cents soon and move towards 90 cents??? | ||||
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