Stanmore Resources reported US$174 million in underlying EBITDA for the first half of 2026, supported by higher average selling prices and positive operating cash flow across its Queensland metallurgical coal operations.

Underlying earnings increased from US$147 million previously. The result was underpinned by an average selling price of US$153 per tonne, up from US$132 per tonne in the first half of 2025. Cash flow from operating activities rose to US$176 million, compared to US$151 million.

Saleable coal production held steady at 6.5 million tonnes, matching output from the first half of 2025 despite lower planned full-year production profiles and early weather disruptions. Run-of-mine production reached 9.1 million tonnes. Free cash flow before dividends and debt servicing totalled US$47 million, leaving net debt at US$72 million as of 30 June 2026.

Alongside South Walker Creek, Stanmore operates the Poitrel and Isaac Plains Complex mines in Queensland's Bowen Basin.

Chief Executive Officer and Executive Director Marcelo Matos noted that operational adjustments and maintenance positioned the company to maintain its output profile.

“Our operations delivered a safe and resilient first-half performance. Production was consistent with the prior corresponding period, despite a lower planned full-year production profile.”

— Marcelo Matos, Chief Executive Officer & Executive Director

The company reaffirmed its full-year 2026 production guidance of 12.8 million to 13.4 million tonnes of saleable coal, with FOB cash costs guided between US$98 and US$103 per tonne sold. First-half FOB cash costs landed at US$101 per tonne sold, compared to US$89 per tonne previously.

The board decided not to declare an interim dividend for 2026, prioritising capital allocation and balance sheet flexibility. Stanmore subsequently finalised a corporate refinancing that increased its term debt facility to US$250 million, removed scheduled annual repayments of US$70 million, and reduced its interest margin by one percentage point.

“The refinancing completed after the half-year end has reset our capital structure by lowering funding costs and removing scheduled term debt repayments. This provides greater capital allocation flexibility following a period of elevated reinvestment in the business, and positions Stanmore to advance its high-quality development portfolio.”

— Marcelo Matos, Chief Executive Officer & Executive Director

The refinancing and steady performance support Stanmore as it advances near-term growth opportunities across its Bowen Basin portfolio, including the Isaac Downs Extension project.

Read the full announcement: 2026 First Half Year Results