Overview of Stanmore Resources Limited's Financial Report

Stanmore Resources Limited (ASX: $SMR) has released its Appendix 4E for the period ended 31 December 2023. The company paid a fully franked special dividend of US 5.82 cents per share and declared a final dividend of US 8.4 cents per share. The reduction in profit for the financial year is attributed to a decline in the sales price received for the product. The company acquired the remaining 50% of MetRes Pty Ltd, which operates the Millennium Complex Mine. The consolidated financial statements have been audited by Ernst & Young, the company's auditors. The company's operations include the exploration, development, production, and sale of metallurgical coal in Queensland, Australia. The report also provides detailed information about the company's directors, their responsibilities, and the company's financial and operational performance.

Executive Commentary on Acquisitions and Financial Performance

The acquisition of MetRes Pty Ltd and Dampier Coal (Queensland) Pty Ltd has significantly expanded our business combinations, strengthening our position in the market. The acquisition of MetRes Pty Ltd involved the purchase of 50% of the ordinary shares from Marmilu Pty Ltd, and the acquisition of Dampier Coal (Queensland) Pty Ltd enabled us to acquire BHP's 80% interest in BHP Mitsui Coal Pty Ltd. We are focused on revenue recognition, managing income tax expenses, and maintaining a strong financial risk management framework. The detailed financial information provided in the announcement reflects our commitment to transparency and accountability.

Overview of Financial Risk Management and Strategic Initiatives

Stanmore Resources Limited has paid a fully franked special dividend and declared a final dividend, while also acquiring the remaining 50% of MetRes Pty Ltd. The company's financial report outlines its revenue recognition, income tax expenses, and financial risk management strategies. The announcement provides insights into the company's financial and operational performance, including its interests in joint arrangements and strategic initiatives. The detailed disclosure reflects the company's commitment to transparency and accountability, positioning it for future growth and development.