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Company Information

Company at a Glance

Industry:
Oil, Gas & Consumable Fuels
Fiscal Year-End:
Jun 10

Company Overview

SRL has interests in coal production and gold and copper exploration. The company operates and controls the Sebuku and Jembayan coal mine in Kalimantan, Indonesia, the Whim Creek Copper Operation in Western Australia and the Mt Muro Gold Mine in Indonesia. SRL also has a diverse portfolio of mining investments and exploration projects throughout Australia and Indonesia.

Company History

Straits Resources Limited ("Straits") was founded in 1992 and listed on the Australian Stock Exchange in July 1994. Since listing, the company has primarily been involved in copper and coal exploration and production. In March 2004, Straits acquired 100% of the Hillgrove mine in New South Wales.

Industries Of Operation

SRL operates within the Resources Sector, producing and exploring for coal and copper. Production methods vary depending on commodity, grades, scale of operations and open-cut or underground mining. In recent years, approvals for mining developments have been slowed down due to stricter environmental controls and land rights issues.

Differentiating Factor

Amongst SRL's mining investments are interests in Goldminco Corporation, a Canadian listed exploration company with tenements in the Lachlan Ford Belt of NSW and a controlling stake in Tritton Resources, a copper explorer.

Major Customers & Competitors

SRL sells coal to Asian steel manufacturers and sells copper to various companies in the Asia-Pacific region. The mining industry is a global industry, which is highly competitive. SRL's competitors include BHP Billiton, Rio Tinto, Lihir Gold and Equigold.

Research provided by  

Market Statistics

Market Cap ($M):
339.1
Equiv. Shares (M):
245.5
% All Ords:
0.03
12Mth Range ($):
0.81 - 2.51
Turnover ($M pa):
750.6
Index:
S&P/ASX 200
Sector:
Energy
Industry Group:
Energy
Industry:
Oil, Gas & Consumable Fuels
Sub Industry:
Coal & Consumable Fuels

Last 5 Market Sensitive Announcements

Date
Announcment
03-Feb-10 13:49
SARL secures 5 year supply of coal to Adani Group
29-Jan-10 20:23
SARL Financial Close and Drawdown of US$380m Debt Facility
27-Jan-10 13:53
MLM: Resource upgrade for Kokomo
25-Jan-10 11:12
Quarterly Activities Report to 31 December 2009
12-Jan-10 20:18
SARL Sale of Marine Engineering Business

Calendar Of Events

Date
Event
21-Sep-09
Dividend Date Payable for Final Year Result (30c 0% franked)
09-Sep-09
Dividend Record Date for Final Year Result (30c 0% franked)
03-Sep-09
Dividend Ex-Dividend Date for Final Year Result (30c 0% franked)
31-Aug-09
Reporting Date for Final Year Result
20-Apr-09
EGM Date for Special Event

Directors

Name
Position
A J Good
Non-Executive Chairman
M Jerkovic
Director
G Lowder
Director
C C Ong
Director
M Gibson
Director
A Morrison
Non-Executive Director

Management

Name
Position
M Jerkovic
CEO

Substantial Shareholders

Name
% Holding
A D Toms
21.9
Sebuku Investments
9.7
Citicorp Nominees
7.3
Morgan Stanley & Co. International Plc
6.3
M G Alain
5.8

Consensus Recommendation Summary


0
0
1
1
1
Sell Under Perf. Hold Out Perf. Buy

Number of Brokers in Recommendation Summary: 3

Consensus Earnings

FY10 FY11
Consensus EPS1 (c) 15.9 22.5
EPS Growth (%)   41.9
P/E Ratio (x) 8.2 5.8
P/E Rel. All Ords (x) 0.56 0.47
P/E Rel. Sector (x) 0.26 0.31
Number of Brokers in Earnings Survey: 3 3

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Historical Forecast Earnings And Recommendations

Consensus Recommendations

Consensus information provided by Reuters.

Consensus EPS Forecasts 1

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Peer Recommendation Comparison

  P/E (x) EPS Chg (%) Dividend Yield (%) MktCap ($M) Price ($) Consensus Rec
  09A 09A 09A    
BHP Billiton Limited 14.4 (8.7) 3.0 221,958.0 39.60 Out Perf.
Rio Tinto n/a n/a n/a 131,531.7 67.18 Out Perf.
Fortescue Metals 19.6 n/a 0.0 13,998.9 4.56 Hold
Aquarius Platinum (48.0) n/a 0.0 3,100.5 6.51 Out Perf.
Straits Resources n/a n/a n/a 339.1 1.32 Out Perf.

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