Revenue of the Australia-based coal miner in the same period was up from A$284 million to A$2.7 billion. Prospects of better earnings has lifted Stanmore’s share price by around a third since the offer was announced.
SIAS, the local investors’ group, has urged the offerors trying to privatise coal and gold miner Golden Energy and Resources to improve their terms, as the spate of such deals continues.
Three months after the offer was launched last November, Stanmore Resources, which is 64%-owned by GEAR, reported much better earnings of A$727 million ($653.5 million) for FY2022, a big jump from just A$7 million recorded in FY2021.
