2025 AGM Material

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Stock Stanmore Resources Ltd (SMR.ASX)
Release Time 21 May 2025, 8:19 a.m.
Price Sensitive Yes
 Stanmore Resources Delivers Strong 2024 Performance
Key Points
  • Achieved record production and sales volumes
  • Improved overall safety outcomes
  • Robust financial performance despite declining coal prices
  • Completed major capital projects on time and under budget
Full Summary

Stanmore Resources has emerged as a stronger, more resilient company with a clear pathway to sustainable growth and shareholder value creation. The company's commitment to operational excellence, financial resilience and sustainable growth has delivered another year of solid results. Stanmore achieved record Run of Mine (ROM) coal production of 19.4 million tonnes across all its core operating assets, with saleable coal production exceeding guidance. Total coal sales increased by 8% to 14.2 million tonnes. Despite cost inflation and production challenges due to wet weather, the company maintained competitive operations, with Free On Board cash costs remaining comparable year-on-year. Stanmore's robust balance sheet provides a solid foundation for financial stability and future growth, with the successful refinancing of its key debt facilities strengthening its capital structure. Major operational improvement and expansion projects were completed on schedule and under budget, reinforcing the company's execution capabilities. Stanmore also made significant progress on its sustainability initiatives, including identifying an opportunity to develop a 20MW gas-to-electricity plant at South Walker Creek to reduce future fugitive emissions. The company's resource base continued to grow, with Reserves increasing to 534 million tonnes and Resources expanding to 5.1 billion tonnes, underpinning its long-term production and revenue potential.

Guidance

Stanmore has maintained its full-year guidance for saleable coal production of 13.8 to 14.4 million tonnes, despite the challenges faced in the first quarter of 2025 due to wet weather in the Bowen Basin. The company has also lowered its guidance for Free On Board cash costs and capital expenditure for the year, reinforcing its competitive position in the current market conditions.

Outlook

Stanmore is well-positioned to pursue a range of strategic opportunities for organic growth and value-adding transactions to develop new production capacity while maintaining financial discipline. The company's clear strategic vision, operational excellence, strong balance sheet, and prudent financial management position it to maximize value from its existing assets and capitalize on new opportunities in a dynamic market.