Coronado updates guidance
following resumption of all mining activities at Curragh Following recent significant events, Coronado Global Resources Inc (“Coronado”, the “Company”, ASX: CRN) provides the market with updated guidance for the financial year ending 31 December 2021, superseding previous guidance issued on 21 October 2021 in its Quarterly production report.
Due to the suspension of operations at Curragh following the fatal injury of an employee in November and above average heavy rainfall across the Bowen Basin caused by La Nina conditions in late November and early December, full year production guidance for the Company is now forecast to be between 17.0 and 17.2 million metric tonnes as the Company will be unable to recover the lost production by year end. Coronado reaffirms its previous commentary related to Mining Cost per Tonne Sold and Capital Expenditure but provides greater clarity.
Due to lower production at Curragh, the Company expects full year Mining Cost per Tonne Sold to be between US$66 and US$68 per metric tonne and full year Capital Expenditure to be under US$100M.
Sales Volumes, while not subject to formal guidance, have not been impacted to the same extent as production due to stockpiling and rail and port operations remaining relatively unaffected by weather events to this point.
The Company expects full year Sales Volumes to be between 17.7 and 17.9 million metric tonnes. With Premium Low-Vol HCC benchmark prices continuing to be well above the long-term average, Coronado reaffirms that it expects to be Net Debt neutral or in a Net Cash position by 31 December 2021.
This announcement was authorised for release by the Disclosure Committee of Coronado Global Resources Inc.
following resumption of all mining activities at Curragh Following recent significant events, Coronado Global Resources Inc (“Coronado”, the “Company”, ASX: CRN) provides the market with updated guidance for the financial year ending 31 December 2021, superseding previous guidance issued on 21 October 2021 in its Quarterly production report.
Due to the suspension of operations at Curragh following the fatal injury of an employee in November and above average heavy rainfall across the Bowen Basin caused by La Nina conditions in late November and early December, full year production guidance for the Company is now forecast to be between 17.0 and 17.2 million metric tonnes as the Company will be unable to recover the lost production by year end. Coronado reaffirms its previous commentary related to Mining Cost per Tonne Sold and Capital Expenditure but provides greater clarity.
Due to lower production at Curragh, the Company expects full year Mining Cost per Tonne Sold to be between US$66 and US$68 per metric tonne and full year Capital Expenditure to be under US$100M.
Sales Volumes, while not subject to formal guidance, have not been impacted to the same extent as production due to stockpiling and rail and port operations remaining relatively unaffected by weather events to this point.
The Company expects full year Sales Volumes to be between 17.7 and 17.9 million metric tonnes. With Premium Low-Vol HCC benchmark prices continuing to be well above the long-term average, Coronado reaffirms that it expects to be Net Debt neutral or in a Net Cash position by 31 December 2021.
This announcement was authorised for release by the Disclosure Committee of Coronado Global Resources Inc.
DYOR
i do not hold this share ( but maybe i should research it )