Brief: Coronado Global Resources Amends Latest Forecasts For Balance Of 2023

Coronado Global Resources

02/10/2023 01:58

Oct 2 (Reuters) - Coronado Global Resources Inc
 CRN.AX :
    * LATEST FORECASTS FOR BALANCE OF 2023 HAVE BEEN AMENDED.
    * DURING SEPT QUARTER, MINING ACTIVITIES AT BUCHANAN MINE
WERE
TEMPORARILY IMPACTED BY GEOLOGICAL CONDITIONS IN COAL SEAM
    * EFFORT IS NOW BEING MADE TO RECOVER THESE LOST TONNES IN
Q4 2023
AND Q1 2024
    * IN MID-SEPTEMBER, ONE OF DRAGLINES AT CURRAGH EXPERIENCED
A
MECHANICAL FAILURE IN PROPEL UNIT
    * PRODUCTION FROM CURRAGH IN FY23 WILL BE IMPACTED DUE TO
RESULTING DELAYED ABILITY TO MOVE WASTE
    * AVERAGE MINING COSTS PER TONNE SOLD FOR FY23 IS REVISED TO
BETWEEN US$97.0 - US$102.0
    * REPAIRS AT CURRAGH ARE ALREADY UNDERWAY AND EXPECTED TO BE
COMPLETED NO LATER THAN END OF OCTOBER
    * REVISED FY23 GUIDANCE FOR SALEABLE PRODUCTION 16.2 MT -
16.4 MT
    * DOES NOT EXPECT A MATERIAL CASH IMPACT IN FY23
    * REVISED FY23 GUIDANCE FOR CAPITAL EXPENDITURE $220 MILLION
-
$240 MILLION
    * CO EXPECTS TO SEE FURTHER SUPPORT FOR INCREASING ITS
PRICING FOR
METALLURGICAL COAL FOR REMAINDER OF 2023 & INTO 2024

Source text for Eikon:  ID:nASX6nHXs9 
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