A sensational first day of trading closing at Double it’s Issue Price.
This Company has some very handy Coal Tenements. Stanmore Coal has over 1000km² on it’s books. Most of these Coal Tenements are in the Bowen Basin, with some right next door to operating Mines. There is Major Infrastructure Close by e.g. Rail Lines passing through their MacKenzie River site , so this gives them easy access to the new Wiggins Island Coal Terminal in Gladstone ( yet to be constructed)
Some of these Tenements could host a relatively simple mining operation e.g. Truck and Shovel , with no need to operate expensive Draglines or Underground Longwall Operations.
The Board and Management have some very notable and experienced Professionals on board.
Once they have some JORC compliant resources stated in the short term , that should give us all some idea on what lies beneath the surface in some highly prospective areas they hold.
I was fortunate enough to get a few shares on issue and have topped up yesterday.
I will be holding SMR for the medium to long term , simply to look forward to them proving up their reserves and commencing profitable opeartions!
Regards
bazollie.
Disclaimer Holding SMR and will continue to hold.
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