Stanmore Resources Secures Full Control of Eagle Downs

Stanmore Resources Ltd (AU:SMR) has released an update.

Stanmore Resources Ltd has signed agreements to acquire full ownership of the Eagle Downs metallurgical coal project and Eagle Downs South from Aquila, with payment structured as an upfront fee and additional contingent payments. The acquisition, expected to complete in the second half of 2024, will see Stanmore streamline management, optimize development plans, and potentially reduce costs by integrating with existing infrastructure. The deal bolsters Stanmore’s portfolio, enhancing control over the assets and advancing their development strategy.

For further insights into AU:SMR stock, check out TipRanks’ Stock Analysis page.