Stanmore's Q1 Reports Lower Cost Guidance, Maintains Output Despite Record Rainfall

Stanmore Lowers Cost Guidance, Maintains Output Despite Record Rainfall

Stanmore Resources defied severe weather disruptions in Q1 2025 to maintain steady production while lowering cost and capital expenditure guidance. The company reported 3.3Mt of saleable coal—unchanged from the prior quarter—despite 470mm of rain, the highest on record at Moranbah Airport. Sales volumes slipped slightly to 3.2Mt due to rail and port disruptions, but strong 2024 inventories provided a cushion.

FOB cash costs tracked below the prior guidance of US$89–94/t, prompting a revised range of US$85–90/t. Capex was also cut by 24% at midpoint. Liquidity remains solid at US$389M with net debt of US$146M after a US$60M dividend payout.

Stanmore reaffirmed its full-year production target of 13.8–14.4Mt, raising Poitrel’s forecast while trimming Isaac Plains'. It also released maiden JORC reserves for the Isaac Downs Extension, confirming 52Mt ROM and 34Mt marketable reserves.

Coking coal prices fell during the quarter but began stabilizing on Indian demand and global supply setbacks.