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SMR, STANMORE COAL LIMITED
blacksheep
post Posted: Nov 26 2018, 07:38 PM
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In Reply To: blacksheep's post @ Nov 23 2018, 10:22 AM

QUOTE
The Board of Stanmore Coal recommends shareholders reject the $0.95 takeover offer from Golden Investments
Attached is the Chairman’s letter to Shareholders

https://www.asx.com.au/asxpdf/20181126/pdf/...n4hphgsz83q.pdf

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 23 2018, 10:22 AM
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In Reply To: blacksheep's post @ Nov 19 2018, 02:14 PM

Updated chart - SP currently $1.01

Regal Funds Management recently became a substantial holder. AFR article - Regal Funds emerges in takeover target Stanmore Coal
extract
QUOTE
It's almost a year since Street Talk revealed Regal had snapped up former Glencore dealmaker Tim Elliott, who was front and centre in a string of Glencore's coal acquisitions including Clermont, Integra and the carve-up of Rio Tinto's Hunter Valley assets with Yancoal.

Anyone who watched the role that L1 Capital played in Eramet's takeover of MDL earlier this year might have an inkling of what Regal are doing here.

https://www.afr.com/street-talk/regal-funds...20181121-h1865m

Will be interesting to see how this develops
https://www.shortman.com.au/stock?q=smr
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 20 2018, 02:12 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Nov 19 2018, 02:14 PM

QUOTE
Three investors representing about 14 per cent of takeover target Stanmore Coal say this week's $239 million bid for the company looks cheap, suggesting Indonesia's Golden Energy and Resources may have to improve its offer to claim control of the Queensland coal miner. Golden Energy announced on Monday it was willing to pay 95 cents for each Stanmore share, and had struck an agreement to buy 19.9 per cent of Stanmore from Hong Kong's Sprint Capital.

The Stanmore board of directors has yet to pass judgement on the offer, but investors have bet that the board will demand a higher price for control, with shares in the miner trading 9 per cent above the offer price on Tuesday at $1.035; Stanmore's highest share price in more than seven years. A company linked to pastoralist Lyn Brazil is the second biggest shareholder in Stanmore with 7.68 per cent of the miner according to Bloomberg data, and Mr Brazil told The Australian Financial Review the 95 cent offer looked "a bit light".


Read the full story from Peter Ker here https://www.afr.com/business/mining/stanmor...20181120-h1846f .

SP currently up 3.55% @ $1.02



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 19 2018, 02:14 PM
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Posts: 6,791
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SP up 18% @ $0.98 on a t/o bid

QUOTE
Stanmore Coal Limited (ASX: SMR) notes the announcement from Golden Investments (Australia) Pte. Ltd
("Golden Investments"), a company owned by Golden Energy and Resources Limited and Ascend Global
Investment Fund SPC, regarding its offer to acquire up to 100% of Stanmore Coal pursuant to an
unsolicited off-market takeover bid at a price of $0.95 in cash per share ("Offer"). The offer is a 14.5%
premium over Stanmore’s 5-day Volume Weighted Average Price on ASX for the period prior to receipt of
the bid.

The Board of Stanmore Coal advises shareholders to take no action in respect of the Offer.

The Board will evaluate the Offer and Golden Investments' Bidder’s Statement received and provide
shareholders with a recommendation in due course which will be outlined in a Target’s Statement
provided to shareholders. Until then, there is no need for shareholders to take any action.

Stanmore Coal will keep its shareholders fully informed of further developments.


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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
cooderman
post Posted: Apr 4 2017, 11:03 AM
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In Reply To: nipper's post @ Apr 3 2017, 01:59 PM

QUOTE
wonder if the spot price for coal - metallurgic and thermal - will increase?


WHC buyers seem to think so.

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nipper
post Posted: Apr 3 2017, 01:59 PM
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In Reply To: cooderman's post @ Apr 3 2017, 01:51 PM

wonder if the spot price for coal - metallurgic and thermal - will increase?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

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cooderman
post Posted: Apr 3 2017, 01:51 PM
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SMR may still fall to the low 30s in the next couple of weeks. No need to rush in here.

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cooderman
post Posted: Mar 28 2017, 01:27 PM
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I thought this may have fallen away more today, a few 50k buyers are holding it up for now. If it gets down to 32 area I might take a risk, else leave it alone.

price at about 2.20 pm

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mcart117
post Posted: Aug 13 2013, 02:22 PM
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QUOTE
 The JORC Inferred Resource has been increased to 322Mt
 Further material exploration target1 of between 204Mt and 306Mt
 Initial coal quality testing demonstrates potential to produce a low ash coking coal, accompanied by a secondary PCI product
 Establishes an excellent foundation for the development of a high quality coking coal project in the heart of the Bowen Basin

Source: ASX today



I sold in March but changed my mind and bought back. It's showing more signs of life now.

 
mcart117
post Posted: Mar 8 2013, 03:23 PM
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This is an interesting one, because, while thermal coal E&D's such as CPL have drifted down in the last month, SMR, being mainly coking coal has done better. Here is a screen grab from their recent concept mining study:



I've just let mine go at just above b/e because it's too damn long to wait, the capital cost of the first long wall is 20x current MC (talk about dilution), and press comment suggests prices might not be as high for coking coal and thermal coal as assumed in the table.

 
 


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