|
Highlights
Strong start to the
year with operations producing 704kt ROM (annualised rate of 2.8Mt) and
619kt saleable coal
(2.5Mt annualised) in the September quarter
Record coking coal
sales of 722kt in the September quarter
Net Cash held at
$90.7m ($90.5m at 30 Jun 2019) with the purchase of a new excavator in the
Quarter
September 2019
quarter IPE coking coal benchmark (index-linked, backward looking) set at
US$115/tonne, with
the December 2019 quarter (forward looking) benchmark set at US$107/tonne
Isaac Downs
consenting on track with the EIS Terms of Reference published on 1 October
2019
Full year guidance
reconfirmed at 2.35Mt product and FOB costs (underlying, ex royalty) of
$100/t
December 2019 Half
year Underlying EBITDA guidance of $53.0 million to $56.0 million
Stanmore’s safety
performance continues to improve. The 12-month TRIFR at the end of the
quarter was 13.6 a 17% reduction from 12-month TRIFR at 30 June 2019.
A safety
‘reset’ was rolled out across the industry including all Stanmore
sites to address the
recent increase in
industry fatalities.
T1: PRODUCTION
AND SALES
|
Quarter
Ended
|
|
Thousands
of tonnes
|
Sep-19
|
Jun-19
|
Change
%*
|
Sep-18
|
Change
%*
|
|
ROM1
coal produced
|
704
|
872
|
(19%)
|
499
|
41%
|
|
ROM
strip ratio (BCM/ROM t)
|
9.7
|
9.9
|
(2%)
|
9.9
|
(2%)
|
|
Saleable
coal produced
|
619
|
721
|
(14%)
|
337
|
84%
|
|
Saleable
coal purchased
|
-
|
16
|
n.a.
|
10
|
n.a.
|
|
Total
coal sales
|
722
|
688
|
5%
|
319
|
127%
|
|
Product
coal stockpiles
|
67
|
175
|
(61%)
|
111
|
(39%)
|
|
ROM
coal stockpile
|
25
|
109
|
(77%)
|
159
|
(84%)
|
*Note:
Change is favourable / unfavourable
1
Run of Mine
COAL
SALES
Record coking coal
sales of 722kt were achieved in the September quarter, resulting in
product stocks being depleted from 175kt to 67kt. The average price per
tonne of coal sold was A$176/t (US$122/t), with all of it being coking
coal sales.
Stanmore’s
pricing for its coking coal is based on a quarterly negotiated benchmark
price agreed in advance of the commencement of the quarter, as well as a
negotiated lagging benchmark price which references the hard-coking coal
index of the first two months of the current quarter and the last month of
the prior quarter.
|
SMR Coking Benchmark
Summary (US$/t, Financial Year)
|
Q3-19
|
Q4-19
|
Q1-20
|
Q2-20*
|
|
Forward looking
|
131
|
126.5
|
124
|
107.0
|
|
HCC Index linked
(backward looking)
|
130
|
129
|
115
|
TBC
|
Link: Official Document
|
