Aug 7 (Reuters) - Stanmore Coal Ltd SMR.AX :
* RECEIVED AN UNSOLICITED, NON-BINDING, INDICATIVE PROPOSAL
* ANNOUNCES NON BINDING INDICATIVE PROPOSAL
* INDICATIVE PROPOSAL PRICE OF BETWEEN A$1.50-A$1.70 PER SHARE IN CASH
* BOARD RECOMMENDS SHAREHOLDERS TAKE NO ACTION IN RELATION TO INDICATIVE PROPOSAL AT THIS TIME
* PROPOSAL IMPLIES AN EQUITY VALUATION OF COMPANY OF $390 MILLION TO $442 MILLION