STANMORE RESOURCES LIMITED — Capital/Financing Update 2024

Aug 29, 2024

Acquisition of BHP’s 80% Interest in BMC

Stanmore Resources Limited (“Stanmore” or the “Company”) (ASX:SMR) refers to its previous announcements regarding its agreement with BHP Minerals Pty Ltd (“BHP”) to acquire BHP’s 80% interest in BHP Mitsui Coal Pty Ltd, now renamed Stanmore SMC Pty Ltd (“Acquisition”) and wholly owned by Stanmore.

Under the terms of the agreement, Stanmore would pay to BHP up to a maximum of US$150 million based on a revenue sharing mechanism if the average sales price achieved is above a certain threshold over a two year period.

The Company notes that the relevant threshold has been exceeded and in accordance with the agreement it has now paid the maximum contingent consideration amount of US$150 million. This is the last payment and Stanmore has now paid the purchase price for the Acquisition in full.

This announcement is authorised for release by the Disclosure Committee.

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About Stanmore Resources Limited (ASX: SMR)

Stanmore Resources Limited controls and operates the South Walker Creek, Poitrel and Isaac Plains Complex metallurgical coal mines as well as the undeveloped Eagle Downs, Lancewood, Isaac Plains underground and Isaac South projects, in Queensland’s prime Bowen Basin region. Stanmore Resources holds several additional high-quality prospective coal tenements located in Queensland’s Bowen and Surat basins. The Company is focused on the creation of shareholder value via the efficient operation of its mining assets and the identification of further development opportunities within the region.

More information about Stanmore can be found at stanmore.au

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