CRN.AX - Earnings call transcript Q4 2022 | Coronado Global Resources Inc.

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Operator

Thank you for standing by, and welcome to the Coronado Global Resources Fourth Quarter Investor Call. [Operator Instructions] I would now like to hand the conference over to Andrew Mooney, Vice President, Investor Relations and Communications. Please go ahead.

Andrew Mooney

Thank you, operator, and thank you, everyone, for joining Coronado's fourth quarter investor call. Today, we released our quarterly report to the ASX and SEC in which we outlined our production and sales volumes as well as other key information related to our safety results, coal markets and financial performance. full of the position of market our XX-K outline be results February detailed Form to release. released on and more our and financial will with A earnings year the XXnd

will financial and our another more outcomes then outline forward to We in convene depth plans. call

We GAAP Gerry I encourage of regarding Within measures. statements I'm quotes you our financial conjunction everyone CEO, Director will joined certain forward-looking Group our you see dollars Managing our to review in stated. the Coronado otherwise and U.S. with Today, notice these with filings statements report, and reconciliations ASX our unless and CFO, metric all non-U.S. that also other by our numbers in and and Spindler; tonnes Gerhard SEC. remind Ziems.

I'll hand over to call the Gerry. With that,

Garold Spindler

strategic and to Thank market successes. you, that XXXX and financial fruition. shareholders for are today. part very but also due progressing by maintain our joining our the in coming Coronado with to are improved their our thank in like past Board, all shareholder delivered a Resources for management and record call to over conditions everyone, record The ended due excellent dividend Coronado balance to I drive sheet. employees XXXX, dedication in significant would to results, work you, to and months helping the year-on-year, Global undertaken the returns initiatives Andrew, continue employees secure thank strong XX

that impacts inflation. XXXX will that Queensland and which our in from cost improved and patterns have have Our production translate circumstances to record in ease, wet the and considerable improve for global results weather occurred impacts despite economic higher weather conditions inflationary should Expectations significantly business. driven production will returns and are financial global to

ability extremely to I to our However, company and outside address control, confident our presented challenges events, to in the provide and all enhanced remain should which value are all continue, our returns to continue to in these ability shareholders.

the I firstly, our like rates The overview continues both pleased safety to our Before below reportable end, of rolling we well-being To the at of reportable to safety the averages. Australia at injury be provide X.X%. X.XX. advise total and basis, priority. an XXst to rate would it's am stands reportable industry was again to that rate remain workforce consolidated of X.XX%. total was I incident December, results, relevant in the the U.S. rate In in XX-month Australia, On frequency And States, on elaborate results. Coronado's #X a total group's average that the our incident the and continue United reportable

I XX% that year-on-year. best the am its improvement Coronado proud reportable ownership, confirm under safety with complex rate finished incident reflecting total Logan a to XXXX

Additionally, part our time is Eagle a lost complex, Logan years the X man achieved tremendous of Lower injury-free, mine, is War million achievement. for X which hours which

be hazard focus New health operations mitigation. continue programs and and initiatives a Coronado and with quarterly and to implemented on identification revised across safety training

X.X higher with was higher quarter and higher XX% X.X volumes production run-of-mine was If saleable Group operations up sales production X%. to XX% production group prior of quarter. tonnes, million operational Turning the down we production from million X Group X.X was September million fourth the X% tonnes compared quarter. to coal X.X up stockpiles Coronado to September the Similarly, the saleable September Australian tonnes, performance. Australia we to was our tonnes, and quarter-on-quarter. the were tonnes on focus production million compared million quarter. completed X% of first, compared volumes run-of-mine

quarter than levels the tonnes, activities late per double to saw mining the the plan coal those million Sales which inventory more at totaled of aligned December well September, quarter. which bode in should year-end coal X.X September in on Curragh quarter, with the volumes Elevated which realized the end key improvements build at heavier return XXXX substantial the were made September Improvement achieved improvements rainfall. in in under on for quarter-on-quarter shipments. December investments Plan. build One metrics reflect quarter these These March despite the

millimeters While production Curragh Blackwater, millimeters town to area, XXX in at rainfall quarter. coal events noted rainfall continued has in levels lower XXXX is quarter, prior contributor quarter-on-quarter, of Basin XXXX. than the which Curragh, higher improvements rain totaled the volumes the nearest per quarter, the a production rain hindered production. millimeters throughout average which was also town XXX The consistent been rainfall the the December which and substantially received were of Bowen XXX further than XXX higher higher levels for Blackwater in tonne. mining year key than to but the millimeters, have The costs rainfall for the higher XX-year this the

dragline Bowen rain mine the investments specifically of improved targeting impacts its events, Curragh in to finished performance totals with Basin translated have movement, waste XXXX performance. waste the and plan, exceeding Despite which investments has XXXX the mine The levels. successfully executed capital movement

accordance rain have are the deliver impact tangible fleets operator Plan Curragh at helped North. model conveyor. for strike Curragh initiatives under the a activities the position of included Mine realizing planning XXXX. to and improve Curragh's with mine of overlaying overall the length the that transition One and pits commencement These to Coronado implemented initiatives restricted Curragh in operating improvements the well Further and X decongest to of contracted mitigate the high-vol coal mining benefits

continue the are which Capital continue by growth with accordance XX.X North growth completion Curragh showing study, reach plans plans activities per expansion Planned of year in underground mine Curragh tonnes the to positive results. pre-feasibility at existing with the XXXX. million

costs targeting methane solar of commenced energy reduce emissions from mobilized investigating capture gas mining strategy This at by as project use coal the investment forms a commenced. substitute have strategies and and projects. program. Drill potential Curragh greater seam wind, part Additionally, diesel has cut a drilling to the of to project and Coronado's have site open and contractors reduce into

XX to continued brings equivalent also during of our pleased current our meeting team works work. This am in another completing quarter hectares football targets fields. of XXX I make XXX full-size that of the confirm completed to hectares land, process to by significant in XXXX Today, rehabilitation the total rehabilitation

saleable commencement intrusion us which in U.S. production at X.X the April, to the down Turning [indiscernible] primarily business. year Logan the offset U.S. prior in the now from stem mine plan. operations our a compared new Winnerford intrusion was production XXXX Mine lower second safely rock the the Buchanan were availability million, and year-on-year, production in Largely the the from behind year. the September improved The of the Buchanan labor impacts in experienced is at rock from Logan by across half both partly quarter. mine of and to

and hours quarter is sales December Thanksgiving the Christmas with production quarter the labor traditionally U.S. volumes and were aligned compared business lower to quarter lower September quarter, a December due for plan. The with holidays. but to

Additionally, and operations the snowstorm by logistics severe in chains impacted partly the conditions December. were

have detailed and XXXX, the During and engagement resulted X mine Governor progress Buchanan continue work with to U.S. consultation second and growth expansion local Tier Mine undertaken state half governments and the and Youngkin, communities Virginia, Buchanan various plans plan counties local Glenn with to Mr. of of take incentives grants the regarding with growth plan. in our our and in place. Coronado securing The

target. of of continued XXth expand XXXX, Mine tonnes raw of skips. local Virginia Coronado and -- in second a plans works In On which show the and and storage operate. produce commence Buchanan distinguished coal December to at on Buchanan its set Growth million September our guests capital a U.S. growth XXXX state other operations communities space remain we quarter, at Governor by of for in the high-quality to plan continue to coal December construction producing support visited the our our Mine supporting met in Youngkin and X.X in

also business on During rehabilitation Logan XXXX, by land and operations. hectares plans Greenbrier completing XX reclamation works our Buchanan, its progressed across of the U.S.

customers one Gerhard Coronado since personal very level to involved its his Last very confidence of decision of Coronado's endless appointment am Coronado. in Executive as we and Chief all the with in a my we our the rest company Officer with and deep CEO Coronado inception. employees, a in feel is as I as significant for of been I plans me announce in congratulate to gratitude commitment succession market shareholders to This Douglas and next Douglas, have my having succession position from high week, my intention process. retire on Thompson planned and comfortable of notified the this I'm team. pleased accordance with making, given place, and the

Officer of mining CIMIC Douglas XXXX Chief years' and an company's Chief as of experience affiliate Managing September Executive and for Officer Australia has been more Group. XX than has Director the Operating industry, including the in the Thiess, since

my smooth transition. closely months, will role a in CEO, as with as Over the coming I I facilitate Douglas continue to work

new my to Chair, Following evolve guide our support grow. and my period lead and to transition Douglas the continues of to I will Board business continue to to for role Executive ensure a

to outlook. hand financial market Gerhard now to I'll and over our to talk position

Gerhard Ziems

and Gerry, you, Thank good day, everybody.

while revenue, earlier, company and a results XXXX mentioned continuing strong was to our Gerry we strategies. our delivered dividend which execute management As EBITDA capital in record very for year

XXXX. FOB, quarter. domestic sell per XX% in a December coal XXXX of that lot XXXX, revenues coal pricing X.X increase Full coal I group highlight per XXXX. $X.X we of is billion group again, the pricing here, met of down XX% as level saw And reflecting record tonne this XX% were of revenues our fall price the on was an quarter revenues year mixture basis. in of coal coal we on sold generated were revenues and million, as blended during at the quarter compared revenue total realized FOR September price $XXX billion, met prior a FOR comprised which to a tonne. in a a USD of $XXX is Met The

available dividends total shareholders In completed distribution the CDI Coronado shareholders dividend XXX% a calendar which in USD with accordance brought special to payment XXX year free XX% in and million, to distribute unfranked policy to to per $XXX from in us. was the the a flow. of is $X.XXX record of This million. This made Coronado's payment cash to total cash December, for paid

XXXX, debt significant our in reducing we also headway had obligations. During

of in $XXX USD year, $XX the down XXXX During and Coronado prior million, from debt finished million gross position million year. the with XX of a repaid debt

Strong XXXX strong healthy consistently cash balance sheet us generation saw maintain a liquidity. and in flow

of December million. end comprised was position of of and senior XX, secured $XXX balance of net $XX totaling the company's cash million a closing notes cash As million $XXX

liquidity end. We XXX USD have of at available million year

level of this to determination events elevated financial On invest year. million, XX-K. market group's of will given the half in CapEx group of and at from wet-weather results, operating completion on officially segments. in activities our to inflationary help of Curragh market our to costs, XXnd the group the works, Form in for secure at in U.S. XXXX. to were provide XXXX including EBITDA February, and pressures, net first we XXXX. year maintenance major CapEx resulting pricing production suite double the $XXX profit to the Curragh for costs and and positions full production the mining future the CapEx for also Australian the And capital relation capital date, lost remained Turning per planned was production was release Buchanan costs higher while rates the mining costs in we higher and guidance the tonne, And from $XX with our are will XXXX continued average to the and due expenditure.

tonne quarter. $XXX markets, inflation economic tonne, Ukraine, conflict global By $XXX high index average September was per hard-coking and outlook price remains index demand per quarter. Europe the in environment rates. low-vol up looking in stubbornly resulting low-vol energy the an Coast September in The average price the $XXX subdued, of driven the was for HCC steel from by average from quarter the up December of in ongoing benchmark and tonne Australian the quarter short-term tonne, per coal for an FOB coal The per premium December U.S. the East $XXX at average crisis

expects by elevated coal in year. the coal coal met historical remain from However, of the steel supported half markets prices, demand met long-term Russian second key averages, the in the prices and XXXX, Coronado above to removal thermal improved of

in due The the high, to Expectations coal reversal of stimulus from the producer the sea return Chinese to Chinese Chinese expect of Australia to Australia, China in China the significant trades met of due the we exists. largest coal And and or coal. China Australian the coal North of policy. government's met are COVID quality exports significant zero production, a steelmakers proximity, following imports -- for where and cost due in the advantages and economic to American freight global displace the of -- steel to XXXX and Chinese large position of higher particularly to quality Australian as coal regions largest resumption particularly scale resumption global met China, lower steel high Australian and China's southern is domestic

Coronado's low as anticipate coal for in and consistent resumption out as long U.S. expected sulfur in coal brand remain the history ash, seaborne coal China, that met of increased imports will dynamics into supply short the for improve competition push low prices Buchanan well reliable Australian term. the of overall to given We Australian market. China and the Demand will is into and characteristics of Chinese strong the coal market likely

firm contracts customers U.S. high remains coal remaining both and renewed met Our being annual Australian for offtake and with long-term customers with ports. demand in

XXXX contract XXXX. metric across for per and Coronado coal basis, to North of annual are tonne higher volume per that of metric a approximately contracted reflecting tonne grades prices is price $XX Our a than inclusive switching active. realize in now FOR of weighted $XX complete price average met American all negotiations expects thermal

fixed XX% royalties U.S. anticipated about XXXX. price approximately and thermal and of cash and over in met anticipated costs production approximately these U.S. cover tender contracts So -- XX% mine of

coal in So be XXXX higher combined realization quarter. commencement given anticipate prices Coronado's and quarter than December with higher higher America and the of index annual in North into XXXX contracts, fourth in first January, we the to of met cost the the quarter price

to I'll now operator the hand over back questions. take to

Operator

Instructions] question Paul Young [Operator Goldman with Your from first comes Sachs.

Paul Young

is Curragh First impacted But ultimately is of XXXX 'XX? impacts catch-up and flooding, to any the one shows But in result. Curragh to on history I on revenue. for question 'XX, operator and at there I did have just great a of around half the price I the was material first first movements, have do half in is you move guess that being question first by movements the is Curragh is the the every is flooding. which just more you did good Bowen point at required mean greater -- and material for Basin

Garold Spindler

Paul, directly. to fortunate Doug those we're having going on him board this phone call. answer in questions ask on I'm to

Douglas Thompson

as The mine been Paul. these the we've very we've you just got we much, of but mine taking Curragh Paul, up has to stuck where a call Gerry, we morning, have aspirations as team and Thank mine that plan for the not operations. no, that is activities been good and asset. And execution a plan to. the diligently plan put executing all into plan compliance the it we've discipline of importance to diligently the

year, will X the it this last be quarter as year. executed So per execution

around and beyond is are weather control the wet is the make points unprecedented valid, Obviously, very particularly our you pricing.

continue so last boded of Our year, manage lessons year shippings. team we serve keep learned year, to more December clear patterns, in the and us can operations we built the very resilient of like the has normal the have the -- water that the end [indiscernible] mine remove water, to responded start this well ability and well end of to quarter weather should make well stockpiles as for for

Paul Young

Queensland? Gerhard then to have for the your had so Right. market. questions have volume? absolutely, on Buchanan just market, it on maybe product just relative see to I start Congrats sales is like mean, met arguably still pretty Maybe The you of to -- bit China China? Buchanan is, and moment. Yes, Chinese China on but And on mix to think know steel considering that moving out of the And for agree from by Gerhard price the the appointment, should buying Queensland you a the Europe coal? an the and also saw of I the Buchanan that way. here, at couple we saw might that the for weak far a do China, Queensland what inquiries sales if play impact positive U.S. you buy one, what volumes ago, questions they years should be of a will couple coal production unwind I impact negative will

Gerhard Ziems

all, I producer And a Paul, -- have approved of that's the and bought cargo, Yes. and Listen, first even of only Thanks, us, received hear I I think, number hear happy parties. one yes, too. but inquiries producer, parties, Chinese not new from year. a officially a some even and -- we not steel that

a think to we see that have the because to said and that we we And evolving. January, at we the I to to in the Year. New if don't last movement will before, week moment, steelmakers China a the approved then have be And we I I of think lot in the as simply we permission import. don't of the mindful see movement see probably market February, more getting activity market, week Chinese back in see comes need probably March lot

highlighted Australian one in also are negotiations us, I but these concluded producers, The is currently all not in only thing March. and that negotiations in Europe, also all Asia, particularly steelmakers with we

if So we which little line with see negotiations, that also that steelmaker likely, these it means means engage here won't a a means bit contracts slower spot in most tonnes, Australian won't ramp-up the happens. of producers, which also Chinese in get XXXX,

So coming product to characteristics. Buchanan popular as remains its a very my I here, said because of in Buchanan outline

as it So popular Europe has well. very it's China, incredibly a become popular product but in in

American of one look popular the high-quality both. most to we the demand be opens coals its in In forward still won't that. Australian coal, we is out and much XXXX. to U.S. means gates There us, this China the coal, look China, of when into as there to for is for so forward Buchanan So what end,

Paul Young

to sort jumps Power. product quarter the the on on mix with deliveries domestic your sales timing Aussie question thermal Last coal of thermal in just of or percentage of the Stanwell

Gerhard Ziems

exactly. Yes,

Paul Young

quarter, is is fourth the just like fourth And why that Okay. quarter go?

Gerhard Ziems

of really, Not just quarter. it was this kind but

So X% healthy from to X%, thermal and look, but from I overall so are need memory, mean, here. the still I memory from to check, space proportion jumped a we -- in

So this. quite where we happy are

Operator

comes Scholtz Macquarie. with next from Your question Jon

Jon Scholtz

release? expansion one in you just color you plans Just to to get some Buchanan, the the tonne needs on could quick what give the level million X.X on a there, to be done us flagged

Garold Spindler

Buchanan [indiscernible] and hoist we're the focus mine. Going through expansions expansion, on both of skip the expanding the in shaft we're the capacity on latter coal of an by the the the outside shipments doing. utilizing is the capacity taking outside capacity, existing accommodate on the general its roads, strategy is to to prep to bottlenecked that a inventory the shaft. is the We'll But Also mine the money principal lose right at plant on spend now, focus the part program. once

and the surface. stockpile capacity the hoist coal rock green additional For gold skip expanding stockpile on yards and

Operator

question Your Shaw [Operator Lachlan Instructions] next from comes with UBS.

Lachlan Shaw

just and couple up on China. a picking Paul's about Just comment

between Chinese from is going expectation of which imported obviously, your slowly China and China tonnes, Australia spot spread to how see more China. split What's or in Year quickly sort upside, given the terms price the New not volumes, might into Queensland? at contract we moment tonnes of sort more to super So of conducive

Gerhard Ziems

and a between now. we And so into and February Australian probability up. So March as as first I Chinese not we Year on it low coal negotiate in before, contracts. when very these now, the right There's new is I April. a a negotiate all I it's the will conclude right year going our slower New of contracts now contractual contracts, don't China ramp happening lot producers be then contracts again, all -- said -- opens probably think

the rely or spot in are China entirely market. will that tonnes not So available on available

rely XXXX, year, then because spot XXXX, simply didn't improves even of the out weather tonnes. a of then we last that wet tonnes lot on but events spot Australia. So China in Hopefully, have available market will of in

be think will slow it a ramp I So up.

coal. let's and import you met thermal back of X million used Australia Of tonnes, tonnes coal, in million say, XX met of of out so coking of the XX COVID X coal tonnes If the that we million XX and about coal, to semi best million to million China go and million out history, coking annum That XX-XX million about or tonnes was coal. kind Australia of hard before tonnes so per -- XX PCI, talk hard before tonnes. embargo, XX

say come of of already the out PCI don't into procure can and back you out steelmakers Australia can So a at China because that discount semi-soft Chinese significant Russia.

tonnes, of year imports Australia then hard from back tonnes XX work coking at at to up guess, be on China million XX you million may coal So in this best XXXX, the best. I

Lachlan Shaw

Okay. a That just of makes a couple sense. follow-ons, -- Maybe actually. follow-on

Korea Japanese Taiwan year? on touched over you in you from is more exports, and not right Russian Russian material, into well to interest -- are but which seeing financial get to now, market the just replace So going as particularly the rolled next Japan, maybe

Gerhard Ziems

of Yes, imposed been that Yes, same steel a we Russian in now. we have have have seeing absolutely. that a and producers Japanese for out most seeing while. for we the Definitely, see mean coal, been embargo I Korea. while on

Lachlan Shaw

sense. makes final then one. Yes, And

skills. So did outlook just think Queensland to more of scenario for to where to mix, Niña the material push for we ability weather, In and about to out midyear. the weather Curragh, how start you ongoing normalize, stories a La long be labor you shortages start how the see given is do or climate of you of might of hear terms gradually heading particular do it that been impactful, into about favorable obviously, very sort in a guys

Douglas Thompson

Gerry, with Curragh. in step it I'll being

patterns the this production. mine where for wet averages, obviously like also improvement of well forecast increased long consider out the based we're just highlighted, on which we bodes seeing year, term Our pattern for our you've in short-term an impacts planning is Curragh's

our in plan. that's So

ourselves a one perform. been so well. as workforce managed of work, strategies the very secure And You we mentioned year see workforce. stable market this we the know in-sourcing right our of them some through to very rest We've We of our the through of at contracting with fortunate the full year with labor and that as price fleets and in stability through well. the partners, good last

to any the be So not labor of may exposed in flagging. that risk we're you Australia

Operator

Your comes Barrenjoey. Glyn Lawcock from next question with

Glyn Lawcock

the on year Blackwater, than Xx offset very had January mean, Any at XXX very, month far? weather, impacts this month you've that? last is good up so January I the the look Just a well before, above you've actually into year, handy more to the and I in mils built stockpiles if Or or average. coming being so

Garold Spindler

Again, let me turn this one over to Doug? Doug who has the first hand knowledge.

Douglas Thompson

last the what Exactly, that's hindrances wet last to can in weather has you've execution flow us of the been wet quarter by in through number, of an the been to of the offered first into gone the benefit year that through weather. but have because work [indiscernible] the the of coal we hindered year unprecedented buffer. a just to opportunity while that was of plan anticipation used we continue mine have wet late form and of the plan of The operations didn't put increased buttress the a

to I'm skies the delivered, So to say has come. Queensland and all for looking plan clear in the we're pleased

the whole that. is I think stage at industry to looking this

Glyn Lawcock

All right.

rain no a of result the in anything this So or as well week? there's last as been damage heavy

Douglas Thompson

that normal So operations, not coal operations, recoverable fortunately isn't the our damaging no. in

Glyn Lawcock

offshore? the market, better would domestic low U.S., just comments thought last be from Gerry, to of about I up I production to good That's margins into have right. the Or note am going now, your to your you're year. All turning putting U.S. I something? missing that XXs hear. XX%

Garold Spindler

The of we we've really. -- a domestic thought better the price not all, No, got than we market first would. on

Secondly, domestically the -- sell domestic [indiscernible]. most what of we

is at Europe So high looking Europe, the over frankly, in Europe vol, of where in go do what given well what long vol will situation, markets we've that year high vol into in high rest the Ukraine as and market the expect would already start U.S. this given don't as secured the the the when term you for we

section, entirely improvement margin as has and go that high-vol internationally domestically, always So while to higher slightly XX% Buchanan does been. a free is it is go always

Glyn Lawcock

Okay.

-- type So coal obviously. that's more Logan what predominantly it your as

Garold Spindler

That's right.

Glyn Lawcock

into And that not long then Executive just often you I General? decision all for changes. sitting mean in taking and moving on in I you're role, And I think the for? the question, management about Chairman CEO while that answering, the Australia. thinking of we how the mean position role the responsibilities, then demarcation you final of the sorry. how just maybe why And a you Executive executive role? -- do mean see with just Douglas are something

what's hold got What 'XX strategic you've Just XXXX. in on two Gerhard guess, investment now for that unsuccessful I us? I after, mean attempts activity. does taking mean XXXX for

Garold Spindler

Well, thank you.

and First of matter Chairman all, responsibility and transition. to is do the -- this enhance cleanly. authority the Executive I that of ability expect transfer only the all so a will role

So for that's purely and simply the reason that.

later -- the but cover I Did all that that Beyond a main that, question. I and The AGM. I of answers don't dynamics probably bit the really will want at to Board little get into or... that, think

Glyn Lawcock

as CEO? mean the on the involved or Yes. more point Director it's you're at being at a you transition. see not -- -- it Managing as just then going some Board end Does a Douglas with up I to as help to

Garold Spindler

He Director, as Managing will yes.

Glyn Lawcock

just So it's CEO CEO a the title, Director, Managing title. not

probably Okay. And position the Chairman not your of as more that, the us as Executive to may -- information at cetera. et has give duration AGM you'll

Garold Spindler

Yes.

Glyn Lawcock

focus just this as does be at that expect actively more your company extra you Okay. looking mean well? then And Understood. as with to hat opportunities a year then on, new Understood. we can Gerhard's

Garold Spindler

of liaison role make intersect The the largely various right. is to shareholders and and a shareholders Board smoothly the the -- I for sure as think that's the my to between dynamics that time. management

new that opportunities don't will prayers, the song at sometimes, and the looking they'll things don't now, -- unanswered are come goes, opportunities, greatest or up. have unhappy we're plate some so the I but your So about involve that of not I'm we the frankly, may that exist sure -- country on listing as blessings nothing -- the way out. turned we know always

Glyn Lawcock

when now and guess, the that. And look both thermal I appreciate I this we year met beyond. and now, table are forward into on

Garold Spindler

I'm sorry.

Glyn Lawcock

thermal both metallurgical table? guess the I coal on And and

Garold Spindler

on no, scale, continue that to [indiscernible] product. we focus

Operator

from comes Paul Sachs. Young with question next Your Goldman

Paul Young

few follow-ups. the opportunities Got on for a the discussion Maybe year. just around continuing

Bowen do Just opportunities see think are well? in U.S. to with the you as you the year Basin opportunities Southern to in this acquisitions? equal the ask, Or respect do

Garold Spindler

find, seeing -- sectors. -- operate we and unique ability We'll have to best try can have both the the pick we that in We're in the ability both look opportunities confident to we we jurisdictions. and

for the both opportunities we're So places. seeing

Paul Young

mining sky over preference? Yes, great. blue there And a then versus mean, -- is underground, I

Garold Spindler

to the we do mining pointed is with that that in Not mining I'd like really. underground is you with mining good ventilation. have same so surface either quite simply out and or don't But also simply the get and people Again, comfortably. ability [indiscernible] underground say top mine. rain underground as -- to do good

we can up. look as attributes balance wish and as So come the we that we at opportunities

Paul Young

maybe on topic then And just of operations. underground the Okay.

million Just to but plans CapEx, works current that results, anything course, development or positive no annum, potential -- Curragh conceptually? And you results grow means. year positive comment in just of and share and your tonnes the at development can beyond outlined statement around study interested North, actually full underground underground would showing pre-feasibility the underground the on Curragh with XX.X the Listen, further what results. is per you doubt the

Garold Spindler

and its and economic -- on in production, we the cost ensuring of that we're fact, put It coal to the the an that coal, quality of the consideration the a production increase the handle all quality cetera. bottom, of remains the equipment decision. relies of and some focused thickness evaluation the we total this seam top or the the surface et reserve we're now, with yet. ability to it and replace our and the not does, through of be It's quality might seen. washability upon and whether Whether in Right

Paul Young

Yes. to it. Got financial get XXXX Gerry, results we're And the the results? pre-feasibility with going PFS

Garold Spindler

that, some later I you can't but guarantee this at year. point will,

Operator

some further to for remarks. time. no at now hand are questions back closing this Gerry I'll There

Garold Spindler

the today. Relations in Well, team. thank to follow-up please you, out Investor Should our everyone, questions, for any have you. Thank participating reach call you

Operator

for That participating. does today. conclude conference you our for Thank

disconnect. You may now

Coronado Global Resources (CODQL) 23 Jan 232022 Q4 Earnings call transcript