Stanmore Resources Limited CEO Mr Marcelo Matos said "This has truly been a transformational year for Stanmore. Our business is performing well as operations at Isaac Downs ramp-up and we have achieved record ROM production in the second half of this financial year. Cash Flows from Operations were AUD 127 million while our underlying EBITDA increased to AUD 54 million for CY21, 127% higher than CY20.”2,070kt (l,263kt H2,807kt HI) saleable coal produced (CY2020: 2,262kt),Isaac Downs mining leases granted and development of the project commencedEntered transformational agreement to acquire an 80% interest in BMCStanmore positioned to become a leading global metallurgical coal producerInvestment in 50/50 JV to acquire Millennium and Mavis Downs MineMr Marcelo Matos said “Market fundamentals remain supportive and coal prices were recovered throughout the second half of the calendar year reaching record levels. We expect a tight market with strong demand to continue with buoyant global industrial production and tight supply. The coming financial year will see Stanmore fully transitioned into Isaac Downs where the dragline will be uncovering coal rapidly given the lower strip ratios benefitting us with lower costs, improved margins and potentially higher volumes, and as importantly, transform Stanmore into a significant global metallurgical coal producer with the acquisition of an 80% interest in BMC on track to complete mid CY2022. We look forward to integrating the business into the Stanmore group and continuing our focus on safety and delivering high quality products and outcomes for our customers, staff and stakeholders."”
Stanmore Resources Limited CEO Mr Marcelo Matos said "This has truly been a transformational year for Stanmore. Our business is performing well as operations at Isaac Downs ramp-up and we have achieved record ROM production in the second half of this financial year. Cash Flows from Operations were AUD 127 million while our underlying EBITDA increased to AUD 54 million for CY21, 127% higher than CY20.”2,070kt (l,263kt H2,807kt HI) saleable coal produced (CY2020: 2,262kt),Isaac Downs mining leases granted and development of the project commencedEntered transformational agreement to acquire an 80% interest in BMCStanmore positioned to become a leading global metallurgical coal producerInvestment in 50/50 JV to acquire Millennium and Mavis Downs MineMr Marcelo Matos said “Market fundamentals remain supportive and coal prices were recovered throughout the second half of the calendar year reaching record levels. We expect a tight market with strong demand to continue with buoyant global industrial production and tight supply. The coming financial year will see Stanmore fully transitioned into Isaac Downs where the dragline will be uncovering coal rapidly given the lower strip ratios benefitting us with lower costs, improved margins and potentially higher volumes, and as importantly, transform Stanmore into a significant global metallurgical coal producer with the acquisition of an 80% interest in BMC on track to complete mid CY2022. We look forward to integrating the business into the Stanmore group and continuing our focus on safety and delivering high quality products and outcomes for our customers, staff and stakeholders."”
