The Stanmore Resources Ltd (ASX: SMR) share price is in focus as the company reported a resilient March quarter, with saleable coal production steady at 3.2 million tonnes and closing cash of US$166 million giving the miner a strong foundation for the year.
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What did Stanmore Resources report?
- Saleable coal production: 3.2 million tonnes, broadly steady year-on-year
- Sales volumes: 3.0 million tonnes, including a higher share of thermal coal
- Closing cash: US$166 million and total liquidity of US$436 million
- Net debt: US$79 million after paying an US$80 million full-year dividend in March
- Average sales price: US$152 per tonne for the quarter, up from US$136/t in December
- Safety: Serious Accident Frequency Rate of 0.50, well below the industry average of 0.80
What else do investors need to know?
Operations bounced back in March after wet weather and ex-Tropical Cyclone Koji caused delays in early 2026. Strong opening inventories and a proactive approach helped Stanmore keep coal deliveries within annual guidance. South Walker Creek posted record production for March, and performance at Poitrel was underpinned by consistent processing and fleet upgrades.
Looking ahead, the Isaac Downs Extension approvals are progressing on track, with an Environmental Impact Statement due in the June quarter. The company also completed a key tailings project at Poitrel to cut costs, and infill drilling at several sites has kicked off for 2026.
What did Stanmore Resources management say?
Chief Executive Officer & Executive Director Marcelo Matos said:
The first quarter of 2026 reinforced the resilience of our business, with operations recovering strongly in the latter part of the period to deliver saleable production within the expected annual run rate of Guidance. This followed the arrival of ex-Tropical Cyclone Koji in early January, which caused widespread disruption across open-cut producers in Queensland. Strong opening inventories helped buffer the impact for Stanmore, supported by a proactive operational response to prioritise coal availability and record volumes at South Walker Creek in March.
What's next for Stanmore Resources?
Full-year saleable production guidance is unchanged at 12.8–13.4 million tonnes, though cost guidance has been revised higher due to fuel price swings from global events. Stanmore has moved swiftly to secure fuel supplies and manage price risk, flagging that cost increases are driven mostly by external macroeconomic impacts.
Development continues on several projects in the Bowen Basin, with a steady pipeline of exploration, approvals, and infrastructure upgrades supporting Stanmore's longer-term strategy. The company says its balance sheet and strong cash generation leave it well placed for ongoing volatility.
Stanmore Resources share price snapshot
Over the past 12 months, Stanmore Resources shares have risen 17%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 8% over the same period.
