Stanmore Coal: success story
All images: Stanmore Coal. STANMORE Coal’s grand plan to turn its $1 Isaac Plains mine into a 15-year mega project is beginning to pay off, with its share price reaching an eight-year high during March on the back of strong half-year results and timely acquisitions. STANMORE Coal has risen from a near-death experience during the coal downturn, to a company that stands today with healthy cash flow and a portfolio of long-life assets. The miner’s renaissance began in July 2015 when it nabbed Peabody subsidiary Millennium Coal’s undeveloped Wotonga (Isaac Plains East) project for $7 million. And then – the deal everyone remembers – its $1 purchase of Vale SA and Sumitomo Corp’s nearby Isaac Plains mine and infrastructure, which…