Australia's Coronado Global Resources falls after revising FY23 guidance

Coronado Global Resources

02/10/2023 01:23

** Shares of Coronado Global Resources  CRN.AX  down as much
as 5.9% at A$1.830, set for worst day since Aug 8, if losses
hold
    ** Coal producer revises guidance for balance of 2023 due to
adverse operating conditions at the its Buchanan mine, and
unexpected downtime for repairs at its Curragh mining complex
    ** Co lowers FY23 saleable production to range of 16.2
metric tons (mt) - 16.4 mt, previously from 16.8 mt - 17.2 mt
    ** Sees average mining costs per ton sold for FY23 between
$97 mln and $102 mln, up from $84 mln and $102 mln
    ** CRN stock at its lowest level since Sept. 26
    ** Stock down 2.3% YTD as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))