New Hope’s Action Supports Optimism for Acland’s Approval
The New Acland mine may not yet be a write-off, and we still think it’s reasonable to ascribe some value for the possible approval of the Stage 3 expansion. Our AUD 1.80 per share fair value estimate for no-moat-rated New Hope Corporation assumes a 50% chance that New Acland Stage 3 will be approved. Without it, reserves will deplete in relatively short order. We have taken the middle ground on the chances of approval, and despite the adverse Queensland Land Court recommendation not to endorse t...New Hope operates four reportable segments: Coal mining in Queensland (including mining related exploration, development, production, processing, transportation, port operations and marketing); Coal mining in New South Wales (including mining production, processing, transportation and marketing); Oil and gas (including oil and gas related exploration, development, production and processing); and Treasury and investments (including cash, held to maturity investments and available for sale financial assets).
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