$1.6 billion market cap coal producer New Hope is selling its 90% of the Lenton JV in NSW — which includes the mothballed ‘Burton’ mine and associated infrastructure, plus the high-quality ‘New Lenton’ development project – for up to $77.5m.
Because of the further strengthening of thermal coal pricing and demand, New Hope expects its EBITDA for FY2021 to be $330 million to $390 million, it said in June.
The company’s production guidance for the full year remains on track.
The company added that it was not its policy to comment on, or engage with, recent media speculation regarding its potential interest in coal mine acquisitions.
“The company regularly examines opportunities aligned with strategy which may create value for shareholders,” it added.
Get the latest Stockhead news delivered free to your inbox
For investors, getting access to the right information is critical.
Stockhead’s daily newsletters make things simple: Markets coverage, company profiles and industry insights from Australia’s best business journalists – all collated and delivered straight to your inbox every day.
Markets coverage, company profiles and industry insights from Australia’s best business journalists – all collated and delivered straight to your inbox every day.
It’s free. Unsubscribe anytime.
By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.
I want the news:
Hear it first
Get the latest Stockhead news delivered free to your inbox.
Thanks! You’re subscribed, Stockhead news is coming your way soon.