Stanmore Resources Limited (STMRF) Q1 2025 Earnings Call Transcript

2025-04-29 15:45:16 ET

Stanmore Resources Limited (STMRF)

Q1 2025 Results Conference Call

April 28, 2025 09:30 PM ET

Company Participants

Marcelo Matos - Chief Executive Officer

Shane Young - Chief Financial Officer

Conference Call Participants

Brett McKay - Petra Capital

Tim Elder - Ord

Glyn Lawcock - Barrenjoey

Peter Ker - Australian Financial Review

Presentation

Operator

I would now like to hand the conference over to Mr. Marcelo Matos, Executive Director and CEO. Please go ahead.

Marcelo Matos

Hi, all, and thank you for joining us today as we discuss our performance for the first quarter of 2025 following the release of the activities report this morning. It is no secret that it has not been an easy quarter in the Bowen Basin with rainfall of more than 470 millimeters from January to March, which is almost 80% of the annual average for the previous 5 years. This has understandably impacted operations and the whole logistics chains, whilst also coinciding subdued demand in the metallurgical coal markets, which has driven down the headline coal prices to a level not seen since mid-2021.

Nonetheless, we are proud of the efforts from our site teams in managing these headwinds to deliver saleable coal production of 3.3 million tons, although below our guidance on an annualized basis. This result is above market consensus given the expected weather impacts and in line with the prior quarter.

Moreover, we are pleased to have kept full year saleable production guidance unchanged, owing to the recovery plans being underway and the underlying resilience of our assets. In recognition of the market conditions, we have also announced a reduction in the guidance range for both FOB cash costs and capital expenditure, further solidifying our cost competitive position....

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