Highlights

  • Run-of-mine (ROM) coal production increased to 5.3 Mt in the September 2025 quarter, up from 4.9 Mt in the June quarter.
  • Saleable coal production jumped approximately 14% to 3.6 Mt.
  • Net debt reduced to USD 90 Mn as of 30 September 2025.

Stanmore Resources (ASX:SMR) reported improved operational performance for the quarter ended 30 September 2025, with enhanced production levels driven by earlier investments in overburden removal and pit preparation activities. Run-of-mine (ROM) coal production increased to 5.3 million tonnes (Mt) from 4.9 Mt in the prior quarter, while saleable coal production rose approximately 14% to 3.6 Mt. Strong closing inventories position the company well to meet its full-year operational targets.

Safety and Risk Management

The total recordable injury rate continued to decline compared to pcp. During the quarter, the company advanced its Principal Hazard Management framework by integrating critical controls into hazard management plans and enhancing field verification processes.

Mine-Specific Performance

South Walker Creek recorded record quarterly ROM and saleable production, with ROM output increasing to 2.5 Mt and saleable coal reaching 1.8 Mt. The Coal Handling and Preparation Plant operated above its upgraded nameplate capacity. The operation are expected to meet its annual saleable coal guidance of 6.5–6.7 Mt.

Poitrel saw ROM production rise 10% to 1.9 Mt following recovery from earlier weather disruptions. Its modified mining sequence temporarily increased the strip ratio to 9.2. Saleable production remained steady at 1.2 Mt, with year-to-date output up 8%, leading to an upward revision in guidance to 4.9–5.0 Mt.

Isaac Plains Complex achieved its highest quarterly ROM output in 12 months at 1.0 Mt, with saleable coal steady at 0.6 Mt. Full-year guidance was adjusted to 2.4–2.5 Mt due to stabilized operations despite previous weather and geotechnical issues.

Financial and Market Update

As of 30 September 2025, Stanmore held USD 190 million in cash and reported net debt of USD 90 million, down from USD 99 million at the previous quarter-end. Total liquidity was USD 420 million. Free on board (FOB) cash cost guidance remains at USD 85–90 per tonne, while capital expenditure guidance stays steady at USD 80–90 million.

Stanmore invested AUD 5.4 million in exploration during the quarter, including groundwater, coal quality, and seismic studies at Isaac Downs Extension, South Walker Creek, and Eagle Downs. Environmental Impact Statement submissions for the Isaac Downs Extension project are on track for early 2026, and underground mine planning at Eagle Downs is progressing.

Metallurgical coal prices improved, with prime hard coking coal rising from USD 174 to USD 190 per tonne. Tier-2 low-volatile hard coking coal also saw improved pricing due to lower Mongolian imports and tighter Chinese supply. Outside China, markets including India remained stable, with demand expected to increase alongside new coke capacity expansions and infrastructure investments.
SMR shares were trading at AUD 2.245 per share at the time of writing on 21 October 2025.