Stanmore Resources Limited (SMR) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

I would now like to hand the conference over to Mr. Marcelo Matos, Executive Director and CEO. Please go ahead. Good morning, everyone. Thank you for joining us following the release of STEMO's 2024 full year results earlier today. To begin, 2024 has been another remarkable year for STEMO, as summarized by the highlights on slide number three. Starting with safety, our rolling 12-month series accident frequency rate concluded the year at 0.3, an increase from the 0.19 in the prior year, but remaining below the latest industry average of 0.69. As pre-reported in the December quarterly, we were very pleased to announce fully-assailable production of 13.8 million tons, above the upper bound of our previously stated guidance and underpinned by exceptional operational performance that has driven raw mining records across all of our core operating assets. FOB cash costs have remained relatively steady, increasing by the US$3 per tonne year on year, supported by the record volumes and contributing to a solid underlying EBITDA result of US$700 million. Overall, the strong financial results for 2024, together with an assessment of our liquidity requirements and the substantial completion of our investment program, has enabled the Board to declare a final dividend of 6.7 US cents per share. This brings aggregate dividends declared for 2024 to 11.1 US cents per share, equivalent to a yield of almost 7% at today's share price. We are very glad to be able to reward our shareholders for their patience over the last couple of years during our investment journey. Moving into the body of the presentation and starting with more detailed look into our safety performance on slide number five. Safety performance was a year of two halves for 2024. Two serious incidents classified as serio...