So Stanmore have somehow got BMC from BHP for a bargain price of just $1250M USD plus adjustments upto 100 million.
Meanwhile Gerry was probably sucking his thumb waiting to see how he can lend money at 15% to pay out fat dividends... The difference quality management makes. How has this incompetent glutton not been sacked, if any other ceo, almost doubled SOI of a billion dollar business, they'd never be getting an exec job again, yet Gerry is unharmed.
Kudos to Stanmore, they did what Woodside couldn't, snap up an asset at an ESG price.
10MT of coal for 1.69B AUD, that's 600M USD or 800M AUD EBITDA per annum (for normalised coal prices not right now) for just 1.69B...
They will probably earn back their investment and still have money to pursue development of the Mammoth sized Wards Well Project come end of 2022.
CRN Price at posting:
$1.29 Sentiment: None Disclosure: Held
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