Stanmore Resources Limited

Thank you for standing by and welcome to the Stanmore Resources Limited June 2026 quarterly activities report investor briefing. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you'll need to press the star key followed by the number 1 on your telephone keypad. I would now like to hand the conference over to Mr. Marcelo Matos, Chief Executive Officer and Executive Director. Please go ahead.

Thank you. Good morning, everyone.

Thanks for joining us as we take you through our second quarterly activities report for 2026. With me today is Shane, our Chief Financial Officer. Overall, this has been an excellent quarter. Operations recovered well to deliver a rebound in ROM production following a weather-affected first quarter. And most importantly, this was achieved safely. This has supported year-to-date saleable production of 6.5 million tons, which is tracking comfortably within our REIA firm's two-year saleable production guidance. At this point in time, we are aiming to conclude the year at the upper end of the saleable production range, with a second-half production profile supported by healthy opening run stockpiles of more than 1.2 million tons and a significant Pre-Preparation Works completed over the second quarter. On the project side, we submitted the Environmental Impact Statement for the Isaac Downs Extension Project during the month of June to the Queensland Commonwealth Government in line with our expected timeline. I will let Shane discuss in more detail, but we have also been busy on the corporate side with the completion of a refinance of our Senior Corporate Debt Facility. The successful transaction received an overwhelming level of support that enhances the debt profile during a period of business and operational stability. I'll now move on to a summary of our safety and operational performance. I'm pleased to report no serious accidents were recorded during the quarter, with the serious accidents frequency rate remaining steady at 0.5, which remains below the industry average for open cuts. We remain laser-focused on maintaining this strong and consistent safety performance as we enter the second half, supported by our principal hazard management plans, which have been recently updated in line with Queensland legislation changes. All three assets delivered a strong operational performance in the Florida, rebounding strongly from the wet weather disruption earlier in the year. At South Walker Creek, Despite the 14-day routine shutdown of the CHPP in June and routine maintenance of one drag line, ROM and saleable production remain relatively stable quarter-on-quarter. Moreover, the mine sequence at South Walker Creek has been set up such that the second quarter is likely to end up being the highest level of quarterly stripping and pit preparation activity for the year. With that in mind, and together with healthy closing round stocks as of 30 June, we are confident that South Walker Creek is positioned for a strong second half performance. Port Reals delivered another exceptional performance with round volumes of 2.1 million tons, an increase of 16% over the average of the last two quarters. A deferral of the CHCT shutdown from June to July meant that consistent wash plant feed was maintained, supporting a step-up in saleable production to 1.3 million tons, with the year-to-date saleable production of 2.5 million tons tracking ahead of our annual guidance run rate. Isaac Plant Complex also saw the benefits of mine planning and improved weather management from the prior year, with run volumes recovering to 800,000 tons and saleable production steady quarter on quarter. As we move into the second half, STEMO is taking on direct control of key mining activities at Isaac Downs. The operating model is transitioning from a full contract mining services scope into an equipment dry hire arrangement with STEMO assuming operating responsibility as we await the transition to the Isaac Downs extension. As highlighted earlier, the EIS for the Isaac Downs extension was submitted in June in line with our planned schedule. Recent feedback from regulators on the submitted EIS has been positive, with the relevant department determining that the EIS can proceed to public notification stage. This means the EIS will be published for public consultation two months ahead of our ambitious schedule. Meanwhile, we have been keeping up the pace on the Eagle Downs and Lance Woods project. The Eagle Downs development studies are progressing well and on track for completion within the first quarter of 2027. At Lancewood, we have received encouraging results from detailed interpretation of our 2025 3D seismic program.