2359 GMT - Stanmore Resources' cash build in 2Q suggests to Ord Minnett that its operations are generating cash despite subdued coal prices. Stanmore reported an underlying free cash flow of US$71 million in 2Q. That led its cash holdings to rise to US$181 million at end-June, helped by a large income tax refund of US$48 million. Stanmore is Ord Minnett's top pick for investors seeking exposure to metallurgical coal, used in steelmaking. Analyst Tim Elder says any recovery in metallurgical coal prices could see Stanmore beat his forecasts. "We note futures markets are pointing to price increases given potential curtailments to Chinese coal production," Ord Minnett says. Stanmore ended Monday at A$2.29. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 28, 2025 19:59 ET (23:59 GMT)
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