Positive Land Court Decision Sees New Hope’s Acland Mine Move Closer to Approval
The Queensland Land Court has conditionally recommended approval of the mining lease and environmental authority for New Acland Stage 3. It is a positive step for the mine and no-moat-rated New Hope. The decision validates our recent increase in the expected chance of approval for Stage 3 to 75% from 50%.There are still a few hurdles to clear before Stage 3 proceeds. However, given the positive Land Court decision, we raise the odds of Stage 3 approval to 100%. This boosts our fair value estima...
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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