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    Daniel Roden • Jefferies

    Daniel Roden's questions to Coronado Global Resources Inc (CODQL) leadership

    Daniel Roden's questions to Coronado Global Resources Inc (CODQL) leadership • Q1 2025

    Question

    Daniel Roden requested more detail on the rephasing of 2025 capital expenditures. He also asked for a progress update on the Mammoth project, including the number of continuous miners and operational status, and inquired about the expected timing for an update on negotiations with Stanwell.

    Answer

    CEO Douglas Thompson explained that CapEx rephasing involves pushing out some development capital at Buchanan and deferring certain sustaining capital projects at Curragh and Logan to later in the year. He reported that the Mammoth project is progressing well, with the second continuous miner starting in April and the third planned for July. Thompson stated that while discussions with Stanwell are earnest, he could not provide a specific timeline for an update.

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    Daniel Roden's questions to Coronado Global Resources Inc (CODQL) leadership • Q1 2025

    Question

    Daniel Roden from Jefferies asked for more detail on the rephasing of 2025 capital expenditures, the operational progress of the Mammoth project, and the expected timing for an update on Stanwell negotiations.

    Answer

    CEO Douglas Thompson explained that CapEx is being rephased by deferring some development capital at Buchanan and sustaining capital at Curragh to later in the year. He provided a positive update on the Mammoth project, stating it is on schedule and budget, with two of three continuous miners now operational and key infrastructure complete. Regarding Stanwell, he stated that no timeline for an update could be given out of respect for the ongoing confidential discussions.

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    Daniel Roden's questions to Coronado Global Resources Inc (CODQL) leadership • Q2 2024

    Question

    Daniel Roden from Jefferies asked for an update on the approval timeline for the Mammoth Underground project and questioned the company's M&A strategy, particularly regarding Anglo American's assets, given Coronado's improved balance sheet.

    Answer

    Managing Director and CEO Douglas Thompson confirmed the Mammoth project is ahead of schedule, with regulatory approval targeted for late November and modest first coal still expected in Q4 2024. Regarding M&A, Thompson stated the company's focus remains on its own organic growth projects, which he described as having far more attractive multiples and lower risk for shareholders than current market opportunities.

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