Stanmore Resources Limited (OTCPK:STMRF) Q4 2024 Earnings Conference Call January 27, 2025 6:00 PM ET
Company Participants
Marcelo Matos – Chief Executive Officer
Shane Young – Chief Financial Officer
Conference Call Participants
Brett McKay – Petra Capital
Glyn Lawcock – Barrenjoey
Operator
Thank you for standing by and welcome to the Stanmore Resources Limited December 2024 Quarterly Activities Report. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions]
I would now like to hand the conference over to Mr. Marcelo Matos, Executive Director and CEO. Please go ahead.
Marcelo Matos
Good morning all and Happy New Year to all those joining as we provide an update on our performance for the December ’24 quarter, thereby also closing our operational performance for our full year reporting.
We’re pleased to have announced that overall, we have exceeded the upper guidance of — the upper range of guidance with 13.8 million tonnes of saleable production in 2024. This outcome is reflective of the consistent performance by the business including full year Run of Mine production records across all three core operations and sales tonnes records at both South Walker Creek and Poitrel.
For the December quarter specifically despite the planned 14-day shutdown at the South Walker Creek CHPP for the tie-in of the expansion module and significant wet weather headwinds in December. We were able to consolidate the full year results with quarterly saleable production of 3.3 million tonnes.
Metallurgical coal markets remained challenging throughout the quarter with their ongoing glut of Chinese steel exports keeping the demand for seaborne met coal subdued and together with stable supply of all key regions ultimately resulted in prices tracking largely sideways through the quarter.
Despite these market conditions, we expected lower run rate of production and
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