Stanmore Resources Reports Strong Q3 2024 Results
Production Numbers Exceed Expectations
Stanmore Resources Limited has released its quarterly activities report for the September quarter, showcasing a solid set of production results. The company achieved third-quarter salable production of 3.8 million tonnes, bringing the year-to-date total to 10.6 million tonnes.
Healthy Inventories and Cash Reserves
Closing inventories were healthy across both sites, providing a buffer to meet expected sales performance and mitigate risks associated with wet weather later in the year. Despite significant cash outflows during the quarter, including M&A-related settlements and capital investment expenditures, Stanmore’s closing cash reserves remained robust at USD 322 million.
Strategic Expansion Opportunities
The company announced a major milestone during the quarter, securing an agreement for the potential mining of a designated area within the western part of Moranbah South JV tenure adjacent to its Isaac South exploration permit. This transaction paves the way for a capital-efficient brownfield expansion opportunity at the Isaac complex.
Financial Position Remains Strong
Stanmore’s net debt position stands at USD 28 million, taking into account the USD 350 million principal balance of the new term loan facility. With a solid financial foundation in place, the company is well-positioned to pursue future growth initiatives.
Looking Ahead
As the company continues to build on its momentum, investors can expect further updates on the development of the Isaac complex and other strategic initiatives. With a strong production profile and healthy cash reserves, Stanmore Resources is poised for continued success in the quarters to come.
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