$10 thread, page-227

An extract from an excellent Ticky Fullerton article about listed SOL that's to be in print in 'The Australian' on Monday 5 December 2022:

"...Two weeks ago, an early Christmas present arrived from the Queensland government: final approval for New Hope’s New Acland coal mine expansion. Coal is bound for Asian customers and Millner says they are not far away from turning the first sod of soil. “We’ve been swamped with people wanting jobs, particularly people wanting to come back. It’s not all fly, in fly out. We are about 45 minutes from Toowoomba, so we’re getting a good class of people who want to come and live in a good area,” he says.

Millner and Barlow’s decision to dig in on coal as others vacate is all the more notable, given the register is largely retail.

The chairman says over the years New Hope has paid over $1bn to shareholders just in special dividends. “Go back to August 2020 and the coal price was $US48 a tonne. It is $US385 today, which in some ways is getting too high, because the Japanese and Taiwanese power utilities have to make money as well. We don’t want it to go to ridiculous levels,” he says.

On ESG, Barlow says the company has been very clear about its strategy for a number of years and the company’s sensible, disciplined approach is becoming more accepted in the market.

“If we sell coal, the coal is still going to be bought by the customers, so nothing changes – but that puts the operations into more marginal hands. Coal will still have a meaningful role to play in the transition, and during that process we are going to be responsible owners and operators. And I think that’s really resonating with our shareholders,” says Barlow..."