Initiating Coverage on Stanmore Resources (SMR.AX)
Q3 Results Show Strong Performance That Will Only Get Better With Price
OK so I didn’t quite meet my morning deadline on this, but I’m really excited to finally get it done.
I’ve been wanting to put this piece out for a while, as I noted in the chat back in September that Stanmore Resources ($SMR.AX) appeared incredibly undervalued at A$1.73/share. However, it caught wind of the sector rally once a former shareholder completed their exit, and the stock ran all the way up to A$2.38 before cooling off here recently.
Given they just reported Q3 production, I figured this would be a good time to both review the quarter and show you all my forward modeling results based on our current met price forecast.
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