December 2024 Quarterly Activities Report
Stock | Stanmore Resources Ltd (SMR.ASX) |
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Release Time | 28 Jan 2025, 8:24 a.m. |
Price Sensitive | Yes |
Stanmore Resources Reports Record 2024 Production
- Full year saleable production of 13.8 million tonnes, exceeding guidance
- All-time performance records at South Walker Creek and Poitrel mines
- Stanmore's liquidity increased to over US$500 million, providing financial strength
Stanmore Resources concluded a strong 2024 with saleable production from its three core operating assets exceeding the consolidated Guidance range, offsetting lower production from the decision to close Millennium earlier in the year. Led by record production from South Walker Creek and Poitrel, this remarkable result was consolidated in the fourth quarter despite significant wet weather headwinds throughout December and a planned 14-day CHPP shut-down at South Walker Creek. The company ended the quarter with healthy levels of product and ROM stockpiles across the portfolio, which should help de-risk and support 1Q 2025 sales performance. Stanmore's existing Revolving Credit Facility was upsized to US$150 million, with US$50 million of additional liquidity added, providing the company with over US$500 million in total liquidity as of the end of 2024. This strong financial position will support Stanmore's ability to navigate all phases of the commodity cycle going forward. The company also commenced a trial Pongamia plantation adjacent to the South Walker Creek mine, which represents a step forward on its decarbonisation journey.
Stanmore's saleable production for 2024 was 13.8 million tonnes, exceeding the upper end of the 12.8 - 13.6 million tonne guidance range. Final cost and capital expenditure figures for 2024 will be provided as part of the company's annual report, due for release in late February 2025.