CRN.AX - Earnings call transcript Q4 2024 | 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 Chantelle Essa, Vice President of Investor Relations. Please go ahead.

Chantelle Essa

Thank you, operator, and thank you, everyone, for joining Coronado's Fourth Quarter Investor Call for 2024. Today, we released our quarterly report to the ASX and SEC, in which we outlined our production and sales statistics as well as our key information related to safety, coal markets and financial performance. XX-K. Today, of released position the Chief to February our outline expected results XXth Executive detailed by with be joined to the Form Officer, more Douglas our Director and financial is of our Thompson. A Managing am and I market on forward-looking our Within regarding you of reconciliations see will and report, certain notice our statements non-U.S. GAAP financial measures. ASX to these our with the with statements other conjunction We and in review encourage you SEC. filings all I'd also everyone in remind quotes numbers Coronado U.S. that unless tonnes otherwise metric and dollars stated. the hand Douglas. now to I'll call over

Douglas Thompson

Thanks, you strong better on cutting tonne, delivered that terms, finished belated of it's opening our closing back us. remain Happy first results of was and a today. to and a averages. with balance below the Chantelle, for New mining $XXX and was the inventory the And with budget. on summary, costs strong year new Year notes for join our coal, which and improved sheet. all, Mammoth oversubscribed business to both been In time time quarter quarter. a held pricing and solid thank a And underground better we taking and achieved mine, than series safety the of We position finished included a us We units industry our which the

in tonnes. industry our and United million production remaining well X X.X million X.XX, was Key both metrics our averages Australia. recordable the achieved X.X volume injury in in the quarter our X total was were saleable was was million tonnes, our group group below ROM States tonnes, rate production sales level, and At

ongoing. improvement Our is journey and positive

tonnes, December, after week, week on actually achieved outages impacts. summary year-to-date impacted December, of our to that us and which reflecting we production and Australian better Curragh basis X is Production last expected turn you is X% quarter. of unit tonnes, million ROM planning couldn't production XXXX for sales ROM the of you'll prior a Coronado meant see production our which period On complex quarter. and impacted on repair coal we delivered the in a is. and about coal million plants required XXXX, approximately to Page all by was built attended XX.X The the overland that of unplanned the there. operations. than up At business the efficiencies outages, this while our in better outage X.X and The at in If operations sales across ROM improved experienced December quarter was conveyor. process, X, and benefit Curragh coal and to which work X electrical inventory processing impacted we XX%

productivity late idle improved fleet consisted shovel, the This previously a The April fifth is fleet from company-owned trucks TXXX dragline announced of our idled October. the from to additional system, cut operations Due in XXXX. our associated open was since the and fleet equipment. removed ancillary

achieved the to from taken last months actions XX productivity. enable Results over our

productivity the shows decreased And This plan cash determined follow in this is a on plan of people our by site manner efforts in by XX% disciplined a $XX focused delivering the cost complexity. tonne performance mine to Our improvement. for removing is our optimizing opportunities quarter. to system enabling and and

and 'XX. up to ratio system the this with by is now at compared our XX% Efforts X% our XX%. XXXX, to improvement up it's focused continues and what And waste moved truck was and our cast dragline improve system. exceed productivity plan on in above -- for excavator from draglines continuing back to in the this have quarter dozer And from blast been of dragline, targets

source that alternate that underground The And was now this delivered, milestone. tonne to an a a that Mammoth cost operations. and at secure coal plan in milestone offers was was coal major operational lower current quarter, in the in source the per next our and

time on and in mined budget, was coal and now on First we're ramp-up phase.

associated their Moving at had on sustained tonnes, X.X that U.S. in million XXXX. undertaken to and U.S. maintenance from to the skip-counts of Buchanan. earlier was in production and following to remaining achieve in improved cost and year planned delivered continued business last the XXXX, lower the U.S. ROM the X tonne. our improve And higher The ROM month a per our is years. up our positive at trend. sales longwall work of XX% November with move best continues Buchanan unit. rate delivering the And quarter-on-quarter operations skip-efficiencies We U.S. throughout volumes production the production, a

December Moving to Coking Coal group Free revenue On bit market the was just PLV year-to-date December of over our billion. quarter an in financial Revenues group and position million, reflect Australian XX.X% revenue Hard The outlook. $X.X $XXX was fall and Index, December a Board to December quarter, combined the price sold $XXX a was and annual we December group was if coal domestic index pricing quarter PLV average tonne XXXX. with the average lower realized tonne. U.S. the the for per compare $XXX, met In that of contract

was was total is with were line the XXXX. in met coal million and volumes volumes of XX.X% XX.X% of same volumes tonnes. year-to-date the total This at December The revenues group period sales sales for XX.X sales in 'XX revenues. Export

material early and We at continue index and demand steel raw coal PLV to September. pressure under the low coming markets X-year a see since

the eventuate, neither momentum for main material in stimulus China remain the see positive fundamentals we seaborne market. positive outside didn't confidence $XXX with outlook so staying raw on that the steel proved based market. production long-term the the from that the The met far range was prices subdued coal of And bound Steel at metal hot coal China. from very remains measures index the within not anticipated met the have recovery during quarter, level. India

original in senior available secured liquidity finance. successfully million XXXX $XX to of and notes We million to used of senior million remaining secured $XXX many a we in with $XXX net of with our position from million. of oversubscribed. Turning was at times year position offering And debt $XXX cash that due the $XXX our due closing ended issued the notes flow are der the us proceeds the The this in strength. million sheet starting improve. Coronado's additional redeem the the finance X.XX% date tenure in we of be Xst coal and balance announced cash the the To quarter, earnings van Stanwell, Officer, on and put beyond the supply anticipated note, of will expiry Barrie new provided April Chief which to with and the significantly Financial Barry And our of Merwe, extension XXXX XXXX. with after agreement also of

update phase, I'll brief and I'll up And opportunities. you complex start improvement several ramping the we're give to on be underground our rest is underground XXXX. in a strategic execution offers Curragh at Mammoth complex projects, Mammoth. over with the we're going and operational. lastly, Curragh Mammoth now The And project of

evaluated per per this the production per from cost and be complex. phase cost tonnes that existing Once de-risk open And in the base will and expected additional for products and coal a substantial additional to high-quality tonne. reserve as this production project Curragh will plants, XX cuts wet overall open not from annum has the further of tonne to supply the fully as quality our first is Diversified reduced than by is to met increased are. saleable reduce forecast processing the Mammoth is The coal is the mine results Firstly, The an capacity. ROM first phase. supply And coal Mammoth mirror expected to mine to offers second quartile, weather million possible are cost affected deliver from cut. mine North expansion million the operational, continuity we production, tonne X.X underground it once X per the and million coal. more is tonnes in with determined the get the

quick excavation to wall ongoing. this of Buchanan. components projects completed, Now give then of collar on was storage works the budget U.S. Both building projects if and and was major second skips on on In surface of coal construction screening the turn reclaimed and quarter, progressed schedule. shaft project a new completed I on And the organic the with the update set the project. the and area the December foundation tunnel expansion on installation the at remain our these on you

on Ultimately, Southern bottlenecks, at the XXXX. both Full on be to area and is and risk increased of capacity higher and in to allowing of completion and operate and completed equipment of will budget track hoisting storage improved Northern the in projects longwall districts longwall year capacity quarter this productivities. X reduce our

and with to over that, the take your I'll And operator, hand Mel, questions.

Operator

questions We answer [Operator you have Instructions] to line Deoji may on the Sandeep any have. also

Young Your with first question Goldman comes Paul from Sachs.

Paul Young

also that disruption. Curragh, there on Doug, with to performance respect mining and around just first the costs is question power

confirm, Just to Can more which December late was -- that regional? starting actually Curragh? isolated Curragh that in you disruption, just that with quarter. Or power impacted was I

Douglas Thompson

Paul, a we of had actually events. number

storms as stops as to power of through We know, you impacts. it and lingering So crash outage took by stop. then and our were the mine. the Queensland, event, because this was impacted supply a some a the on-site their prep we impacted also regional your the we actually you that had have outage, rolled And when -- impact plants

well of So That clean you dealt manner gets a is that some mess have and to in unfortunately the up up start them methodical made. with.

-- another one that overland impacted direct is that storm that first on the power in mining. was then And strike that reject had after the conveyor on and major that outage Year. control a came period we The the impacted knocked prepared both impact. and that -- on big impact on had kept we for on that our second area we first the systems the on was the the New had got out We lingering us Boxing There Day. that was through spin

a also but direct So of on-site regional. combination impact, then

Paul Young

mining question Okay. quarter-on-quarter, the at Curragh. All then really good look I the next is on And reduction If right. just costs.

X% dragline are much I the out quarter-on-quarter mining, than which I cash when truck think costs. was at pointed $XX because you in is about lower increase know million I site shovel. reduction obviously just look about the And or it the costs so great

some prices environment still you of -- sit this it'll fall you Where Curragh to the quarter, I got in coal half. So can around a with respect a what's the half mining from this CapEx at got trajectory I moment, on that a or a program costs? perspective. on but what dragline reducing shovel, So just think flow a is percentage And and built controllable half, of this this I'm your to this expectations expecting mining of cost you've guiding a truck into struggling ahead still do, for coking the bit up. of mining half? where removing on looking you know half et in cash this your inventories can to bit a further what's you're respect But cetera? step-up what step-up And CapEx do noting bit did with in you have costs,

Douglas Thompson

can yet, cost I'd one just using costs we be forward-looking it line absolute we've fleets that and say put getting also of the I we think initiatives X, in went the without reduce performed quarter want to of our we more trend to productive our quarter because place perspective, see by quarter but took from if how those X exercises, in make to where out. Curragh So a volumes taking from probably obviously that a through results year, a is X, denominator, didn't base quarter and one start cost-out but last the X

the that's thing. So first

continues expect be planned. What forward? we which at the performance levels we've The at to dragline do going

than cost complexity contractors turnoff to ran the model of is from margins, that truck still period mine had to out it's we're by many And cost ought notice, cost mean that what overheads got was disciplined-ly. We've bit We've I'm forward moved out is draglines ensure we to about call stepped removing can is go deliver with got the that month comfortable achieving. a what versus out, I presently crossover. we thin I that. that percentages a Curragh look opportunities in the work a to ensure year, many that XX% and prior a operations. not services because back last seen that plan those model. marginal got involved, outsourced very Part has sustainable, year quite you waste historic Our of owners out the we've some ratio, so by date. The the that contractor and what less actually was dragline excavate. slightly our bear us. linger little where behind people they've We for That And actually a that we've held results we're this now talking the give to to did contractually. We through

the fruits to we're looking that start benefit. So enjoying of

So our in you should through that see costing. coming

opportunity quarter -- brought X, plan, 'XX, into the of we've And than excavate and then to in another through and idle in an for fleet, our -- cost. got idle had which give the analysis better the -- because we mine us address plan our going will to that draglines that truck we're temporarily and what the another of 'XX performing opportunity we plan

those have your we've levers are cost are a pull. plan, the working that sustainable base," mine we long So been can "putting and your that systemic in term, obviously change through. There engineer other

the our with to business $XXX with That out we've -- pricing see the strong sure one fourth September that look is cash we've the the what's first million you want the held a position probably And good we into is said year. the from now business sheet, quarter-to-quarter a I from on balance discipline underground The around cash the sheet. a plays we've taken think, into this come that quarter, low is you'll to liquidity. making showing that's $XXX at the year in and new discipline. very important hold And us. to our discipline always growing is that position held balance liquidity through the And we've we've

money levers have levers one reliability that up We're at on on full of sets the prep spec are getting can and systemic it pull it's we cost we and very in But future the do the the manner overland ones the where the those a capital example, them capital other to to our looking can and infrastructure, we've not our but Obviously, like But programs. systemic I'd you some plants a deficit we because that and wants key the we us address pull, in lot management. draglines. and system focus systems for all Curragh in worked efficiencies up a challenges our like the challenge at well for We spent getting COVID of hard cc conveyors. one see in those, to now maintenance on. others are as pull, in our have that can out like levers

Paul Young

Yes.

price Was it's export deliver sales the I I just so deliveries? want was, good realized Really it just just up pricing really -- detail, a that. quarter, why timing the of lastly, focused, so it in I bumped Because And probably which quarter. appreciate the you couldn't noticed Okay. the to clarify the Buchanan I on into which that. unfortunate was in export U.S., in think, domestic market

than it why So the explain those can you maybe rather variability market? just we saw and Is deliveries? step that in domestic stimulus seaborne through -- seaborne

Douglas Thompson

right. to the I from think numbers timing. go But got sure -- I want I I've what evaluated, it's make and

actually, we'll States seeing seaborne on bit this in contract the And positive we're with that year availability. more in it's with see sentiment market. in out then a little So that United what volumes and about the timing play

Operator

next with Rob Your from comes Macquarie. question Stein

Robert Stein

you Just sort the pricing. mid-XXs 'XX Q-on-Q? sort the question to follow whether we Paul's and as of around And forward context like? provide a sales going mix around up average of on change can bit coal met expect of trended to Can

Douglas Thompson

of timing. lot -- coal, met percentage a that I'd yes, it is of around say, yes. It's

be quite it'll give you So to difficult that. me for

has to that sales contractors so taking their under our our stayed market albeit our volumes into volumes. plan. is clients, want product, They Our stable the pressure, kept clearly,

you'd see So have been I swings would timing. think the

last was between of mind took some advantage took of out timing. or arbitrage year this we see have bit, quarter-on-quarter, time contracts a your pricing the and year, would difference year that we year the the we this back those cast at it the last between and to up to thermal been you If was opportunities wind

Robert Stein

up update that going just to forward? and costs And on production us just an provide and can on ramp we're expecting how you impact Mammoth, see

Douglas Thompson

so firstly, costs. pleasure, With on

see planned of volumes which helping material ramps the base from coming up half, That'll Curragh, cost and is ramp-up program. some through we'll reduce volume start the are perspective. phase, planned there bring busy that complex As panel the ramp-up The second for the like we're the in into that units start we've we X overall building more looks first that continuous year. an we first volume in profile and mining that up first

delivered we'll the the and in then we'll through in get quarter So mid-December build that of started up second the and middle back that build of to And the the end year, panel quarter unit announced we'll out we then X, X. project. That'll that'll second have in when so for X-meter belt primary The the build lines seam. out predominantly conveyor in it's in second infrastructure start the that'll is, the opportunity playing mine, half, like. a the panel ramp-up putting the the And the out third include and coal

that take it, primary floor. production, on floors back tonnes bolt productive you the come it, that cheap you, bring your the and have. development, go that So then in you And into spend bit you a very with retrieve and money top of investment system seam quite on on the we very, the secure cut, and those coal you as that's rip

will that those us opportunities. So offer

speak a What as in second like, help additional bringing XX probably as then of plant, if a the And project. in, costs. bypass our to more we in time get out now where through productive as the it with our be ramp what we from be phase and be in processing mine to X evaluated could we'll processing which is see Those about a expansion on proves about well as units to bring it months' part as we'll Phase that will perspective in is, in circuit us it tonnes. could also sufficiently up for we our from XX there's productive, opportunities will built

out that upside see phase. So we'll this first in evidenced be there's want make exploiting, but commitments it that to don't bit see of to we we this quite until of a opportunity we

Operator

with [Operator Glyn Lawcock Instructions] Your question from Barrenjoey. comes next

Glyn Lawcock

bit was move? costs quarter costs Curragh what be a the were gapping capitalized I at you This normalized quite we around could just I saw year wondering given hadn't like costs what the last capitalized. what if quarter, where ask little been for in inventory feels the I have mean the QX normalized bit. if you a would like

Douglas Thompson

the is inventory. also movement of The -- part quarter-on-quarter the in

our So we it. [ That causes ] that as comes X, think, the online starting stabilize on some quarter built And stop of and the inventory to underground are will us. as I of some having stable. these more Curragh you it's in that those of events out, out, so been be can and as impacts we well, will playing see plan, impact amplitude flatten

Quoting So be. a preempt want normalized it's if time. that to probably some the don't million number $XXX couple we're I be that's in doing about out, denominator where number, around. with going of it thought But would inventory a probably to moves weeks' that it, you of

Glyn Lawcock

Okay.

million mean, just So been of think about inventory, if I course capitalization QX, sort again than in effect that about opposite I you've the in trajectory is QX. had or then, something? 'XX, base given that of massive number the then Curragh right $XXX the you of given QX for -- the over

Douglas Thompson

capital the first But projects flowing half. change, as obviously, as the is benefit you the sub-$XXX these winds -- about for online, then from otherwise... capital million said, starts out. say that'll through And I'd come

Glyn Lawcock

of the $XXX middle, tonne, obviously I no, it's to seems the is appreciate you're from capitalization a in I tonne it. somewhere volatility truth swinging No, just Yes. a roughly, the it like. the when mean $XX

Douglas Thompson

inventory that's on. you're And the Yes.

Glyn Lawcock

very but then mean, flow, of it's it's this on And cash small, flow. Yes. feels cash the I I a game like, it on interest with just know company,

stand you Was made working You to mean, in making are today's be. your reduction positive prices Is prices than in if cash we a it the weaker net look today's reduction net like business cash to today? the capital very I environment, a make at help small debt. all in debt. And a obviously them contribution we'd at quarter we as just bit

Douglas Thompson

some The combination costs paying going position -- is net there the there are But the -- our The of first a are yes, not it. working capital down. down coming effort. in debt net

inventory. the mentioned You

set pricing X going efficiencies was that sort first It's is playing to tough said. environment, The these finishing to out think, fairly the as of of we've be business you and capital intent the those. to first going The and year needed months out everyone, We've projects, is and quarter hold tough. benefit this to continue for from what fact be be I Curragh in in discipline business program tough. capital this large productivity to going in got in a the we up holding to the 'XX. the long-term on or particular drawing at the

complete, it fruit So to that bear but needs work largely is half. in first this

So and first these seeing is to be the off half we hard projects at finish the where pricing while going moment. we're

Glyn Lawcock

Yes.

we'll will wait 'XX? Or be on capital up for next month? guidance So

Douglas Thompson

If wait, guidance. you wait for could

Operator

question comes America. with Jiang Chen next of Your Bank from

Chen Jiang

Just the volatility of I at et from the cost and the third then mining USD Australia it's you cetera. mining significantly know the inventory, a dropped by quarter second from cetera, and quarter-over-quarter, example, and fourth XXX; quarter, first quarter, cost up looking of Australia XX. the USD But XXX; was about follow-up et USD the mentioned capitalized in USD XX; dragline, inventory, quarter-over-quarter. again, for quarter,

below has cost. sort exactly achieve the big some provide quarter, this cost low us the last -- know You like, volatility is us relatively you And the the quarter-over-quarter, will in to what at give a a levers and happened also of next like you of Australia that the And average guess from maybe $XXX confidence. I also can mining have guidance month months? maintain I maybe mining 'XX the confidence XX the FY that. such, some give for So cost. level in

Douglas Thompson

of answer the response question those prior helped you in was what well of most Jiang, is Chen by a as and said, me driven I number -- quarters volatility things. the think, From

first in The the and balances, was that quarter the first. does quarter, like you swing denominator. the inventory said, Yes, then

the year opening storms then been, inventories where produce by cyclones to input and impacted and look the inventories product. you we that's hit off at Curragh the Australian Eastern Seaboard those our the that process started our big If year was and in

sales a was from perspective, So production. and denominator first in impacted severely quarter low the also

the out. areas productivity system setting that we announced the second up out, It efficiencies the new the The at tangible the with X knock-on up, the based out pre-strip we was and quarter, set of played produced the recovering the people came And when production, that as those of we mine the and good taking started out out, a kind off not cost, played the a reflecting taking fleets and as sales That numbers taking only of our business. works dragline also as you're associated as that then that that park the the second taking fleets. working historic in costs timing first of efficiencies. And that fleets. X quarter, out system you're and as was in of started finished plan, cost the fifth parked on really stage fleet we all last up result. but came we then also the the effects. unplanned could ROM with when at And for By production we were for looking that's the that we

underlying the out of coming business. the that's costs So

damaged -- a from we of then that was, once ripped and getting That impacted again well. by had, a of out plate ripping think, a And -- conveyor coming XXXX. volume quarter rainfall August amount third belt the with a as loose took overland substantial I The damage crusher our had it operations. highest belt

the denominators items those So key out. took out are that then that played the

the why operate can it can you that's at out at it the that cost you and also QX, see produce look moment. been the And saying, and can of cost systems' capacity doing. can we've I'm look seeing kind QX what with start the at that So that

through And made probably capital, answer point to then we've it. -- the is forward as stability laborious but for an my return question, and as additional it's come and we start below This get can we've it time volume and the And that in designed valuable business is then So other your the solution as it entertains it's we're look you then for in along. coming enjoying $XXX, here that that. the you half, disciplined-ly is volumes engineering we -- us. the have investments second commodity that particularly on to the it the executing start I systems afford we'll that post know there mind, get most

sustainable So in working we've We demonstrated see that'll can quick as can the Curragh to going costs. for play as was through that out get the and we we results. to be it engineered-solution stability forward, and been system We've the results. just needed

Chen Jiang

I'll it on. appreciated. pass Much Okay.

Douglas Thompson

problem. No

in the you and show at the you past, host this. we'd As offered to out site love

Operator

Your question with next comes Roden Jefferies. Daniel from

Daniel Roden

the job understand. guess, quarter. wanted Good I I on to, just

and coal switching behind also then I to fleets, potential understand back to just guess, but the You've process what called decision in for, And what are I -- out wanted seen the I is off those for medium-term the with efficiency dragline Are pre-strip you Are fleet falling, requirements load removing doing is themselves? guess, the your the on December. different of site just of And them the contractor? is guess, for offloading due just, guess to through basically I on? remaining both you what [ I medium-term ]? what I this they trying on a recovery understand to coal actual risk premise fleets guess, site? another

Douglas Thompson

it where question, let's mines. to go call answer a It's as and now Curragh X good Very out. To your Look is. at resource.

then So through and the undergrounds, X complex; Logan cut; are We've the in we Australia. operations. X were got X open X X; in the group, now Buchanan, XX

for of addition offers, underground the of can that tonnes with long-life an opportunities the the can front reserve engineering it markets come as us we permitted and do. of to the we've to in out in the small of do. Part that -- of I've the played the it, So incremental mind amount what of be board called a asset or what past, fully has got this

can the So the If does the And will think our I sense market it get we've we always volume in for that'll Curragh, make opportunity. does to capacity, install be we market ramp is additional up additional capacity goal moves, through? got work. production, can and

we lever. be So pushing will that

and the disciplined-ly that, to pull drive I we've you we've in past. is really And do back. operations, get that their think them signaled What date focused done simplify productivity. to

are where start they market, can do revenue wind draglines looking dropping a the that at it out obviously, performing fleet, it particular that the truck the you suggested, back and as when wind up you then excavator can, Now again. without in of you've back and can we business,

into to fleet it if to of level, get presents. is, question your that still well, you accessibility the next is the part So the is there

So and We site. the site will it. is remain shovel ours. on equipment That is parked own on

yes, So that available. capital is

fleet. have removed of a The fleets, All ] class [ we've the in this other off about and fleets is fleets those probably fleets de-modded about been consideration I'm and contractor-owned been have site. that XXX parked tonne talking year

stripping fleet. get the by the our has but of when this is. the primary in out not the with keeps into going done that a back still for planning in it 'XX X year. And back at look some it pre-strip we're our it that pre-strip of it's cost can to stage at that come XXX-tonne can substantial It base play get primary XXX- ratio a and way if fleets sitting done end draglines. probably that That draglines we and do middle probably will of out pre-strip fleet. So come is But on 'XX, fleet. dragline what the profiles rest performance will at will the to production quarter them

at Everybody business So that and going fleet the is we'll it's our try market. available moment. their accessible. process, there getting around, of the But procurement is keep in out cost in fleet

pursue reasonable you to So time there of a in are properly. preplan can if it avenues fleet amount

of ratio managing long decisions in of any see don't mine. that stripping the impact the we us taken moment So at these to term are the

Operator

comes question ] next Mariani ]. [ Luca [ Your NUMI from with

Unknown Analyst

on to Yes, generation. something wanted I cash just clarify

the last basis? is of issuance a So first pro minimum to level for new burn on cash want XXXX? you effective the keep forma there half what quarter-over-quarter a quarter, cash for the was And

Douglas Thompson

details too don't because going out want be all out the we're get into financials. our month Look, coming in of deep I to a it to and putting of

$XXX with the we Australia. on just $XXX the in on So million $XXX business level of on mark Board $XXX to moment expansion just both the a as part question. first we've what been what our we into managed we're been as skis of want cash about probably and hold we've is want our kind and to But your a the what believe at sitting of don't liquidity putting -- ] and at is your market across we're million. as we at a We're [ and liquidity million is the team of growing just business, U.S. looking and get under liquidity of the

with comfort is strategies discipline, level of and got the with positions and around sheet working. those cash that managing we've balance in So our both the

Operator

section today's That question-and-answer for closing call. of remarks. Douglas I'll now concludes hand the to any back

Douglas Thompson

As all right and is some one end reflects next back plan A the plan. one our and and sits of the growth. an opens, review long our term opportunities year of to learning of draws assets for

experienced is the They've mines Logan, got a right. We've intent strategic results. performer. the there. delivering X Our constant team, reliable, Excellent team, very good been very

we and to excited have work system flexibility both and team the through proven Buchanan. going the the allow operations enable having in additional the better, both we 'XX I'm mine will them going. with manage throughput at with of longwall really that with yields as debottlenecking particularly the Buchanan, lot XXXX, can now forward a in that

And then at now out. have has cost. we're And mines. X a approved Curragh, We've the results milestones that The X spoken of a our cost to, of seeing the The we've lot helped our delivered. regulators We the taken productivities mines. and have come simplify it. in in our and lot base out through complexities, team that

me on put unprecedented, ahead. where have of team. year we so half then business to the incredibly that's And do mine first kind Things proud that and focus in build got the like want to 'XX on a have But and excites and the efforts see I'm easy our like got finish projects anybody and a prepared is, we've of to any time the that's for. that's and effort of in for control don't more assets responsibly about capital we have is Queensland these more know need the been. offer. budget I by we on beyond So being to market measure. coal these And To what our to

take said explain show to far get thank to mines show With easy offer. the that, you much. very We'd I've us please as up like to you doing. then it. what you out you It's previously, we're on So and these

Operator

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

may You disconnect. now

Coronado Global Resources (CODQL) 22 Jan 252024 Q4 Earnings call transcript