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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Stanmore Coal Limited    SMR   AU000000SMR4

STANMORE COAL LIMITED (SMR)
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Stanmore Coal Limited : - Operational Update

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06/28/2017 | 04:56pm CET

Release date- 27062017 - With the quarter and financial year drawing to a close, the Company remains on track for a strong June quarter and will marginally exceed prior guidance for ROM and product coal produced.

This performance, coupled together with the higher than anticipated June quarter benchmark settlement of USD126/t for semisoft coking coal, has Stanmore in a strong position to finish the year and commence FY18.

HIGHLIGHTS

June Quarter Benchmark price set at USD126/t (spot price USD92.65/t)

On target to achieve June quarter prime overburden plan and to slightly exceed previous guidance of 1.15Mt coal produced for FY2017

Mine performance

Isaac Plains continues to deliver solid operational results and, subject to final survey for the month, will marginally exceed the prior guidance of 500kt Run of Mine (ROM) for the quarter and 1.15mt coal production for the year. Stocks remain adequate and the previously flagged earlier planned maintenance for the CHPP is under way.

Sales and Logistics

The prolonged June quarterly benchmark negotiations have been settled at USD126/t. The prior June quarter forecast sales of 305kt has reduced to 265kt (100% SSCC) with a thermal cargo, that is fully assembled at the mine, deferred to early July due to short term rail constraints.

Contact:

Mr Dan Clifford

Tel: 07 3238 1000

ABOUT STANMORE COAL LIMITED (ASX CODE: SMR)

Stanmore Coal is an operating coal mining company with a number of additional prospective coal projects and mining assets within Queensland's Bowen and Surat Basins. Stanmore Coal owns 100% of the Isaac Plains Coal Mine and the adjoining Isaac Plains East Project and is focused on the creation of shareholder value via the efficient operation of Isaac Plains and identification of further local development opportunities. Stanmore continues to progress its prospective high quality thermal coal assets in the Northern Surat Basin which will prove to be valuable as the demand for high quality, low impurity thermal coal grows at a global level. Stanmore's focus is on the prime coal bearing regions of the east coast of Australia.

(c) 2017 Electronic News Publishing -, source ENP Newswire

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Managers
NameTitle
Dan Clifford Managing Director & Director
Stewart Butel Chairman
Bernie O'Neill General Manager-Operations
Ian Poole Chief Financial Officer & Joint Secretary
Stephen Grant Bizzell Non-Executive Director
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