Coronado Global Resources Inc.

Thank you for standing by, and welcome to the Coronado Global Resources Third Quarter Investor Call. All participants are in a listen-only mode. There will be a discussion of results from the CEO and CFO, followed by a question and answer session. If you wish to ask a question, you will need to press the star key, followed by the number one on your telephone keypad. I would now like to hand the conference over to Andrew Mooney, Vice President, Investor Relations and Communications. Please go ahead.

Thank you, Operator, and thank you everyone for joining Coronado's third quarter investor call. Today we released our quarterly report to the ASX and SEC in which we outline our production and sales volumes, as well as other key information related to our safety results, development projects, coal markets and financial performance. A more detailed outline of our financial position and results will be released to the market on the 9th of November with our Form 10Q earnings release. Today, I am joined by our Managing Director and CEO, Douglas Thompson, and our Group CFO, Gerhard Ziens. Within our report, you will see our notice regarding forward-looking statements and reconciliations of certain US GAAP financial measures. We encourage you to review these statements in conjunction with our other filings with the ASX and SEC. I also remind everyone that Coronado quotes all numbers in US dollars and metric tons unless otherwise stated. With that, I'll hand over to Douglas.

Thanks, Andrew, and welcome to everybody who's made the time to join us today. As we embark on the fourth quarter, I'm pleased to report that the operational headwinds experienced during the third quarter relating to the adverse geological mining conditions at Buchanan are now safely behind us and more normal mining operations have been restored. Additionally, the repairs to the mechanical failure on the propelled unit of one of our four drag lines at Currah is nearing completion. It's a testament to our teams who have managed to pivot our mine plans and our maintenance resources to manage these unforeseen events and limit the impact, but also generate options to recover these deferred coal volumes in subsequent quarters. The business is focused on executing our revised market guidance plans and ensuring that our production levels remain above prior years. Despite these operational headwinds, the business achieved several milestones during the quarter, including the global business set new benchmark performance in safety and set regional safety records. As the Australian business segment nears completion of the improvement plans under the one current plan, record waste movement The record waste movement set in the June quarter has been surpassed. A new waste record has been set in the September quarter, and this has been achieved, albeit the failure of the drag line in mid-September. This reflects a return on investment from the One Carrier Plan, and the business will realise the returns of these investments in the 2024 business plan and beyond. We continue the development of our organic growth plans. both in the US and Australia, and these are showing good progress and performance against set timelines for these projects. Our business took another tangible step forward in our emissions reductions during the quarter. We commenced the installation works on a second ventilation air methane unit at Buchanan as part of our strategic plans to lower emissions, and thereby we accelerate our plans to reduce emissions by 30% by 2030. We also appointed two new independent non-executive directors to the board. We welcomed Amy Allen and Ann Wilson to the board meeting in September. Year to date, Coronado has generated more than $2 billion in revenue, with 92% of those revenues being generated from our metallurgical coal products. These products are mined and produced at 100% owned MEDCOL mines. That being the Currah Complex of Mines, Buchanan, and the Logan Complex of Mines. Independent industry experts and our own modelling is predicting tight future supply markets, thus anticipating higher for longer pricing. For this reason, Coronado continues to invest in itself. Investing in organic growth to increase our sales volumes of our highly sought-after, high-quality Metco products from our already-owned assets will drive enhanced and sustained return to our shareholders. Now, before I elaborate further on our results, I'll turn and provide a short summary on our safety performance. I'm always hesitant to talk about our safety results, as safety is integral to our daily activities and our holistic results. we are relentlessly focused on ensuring that what we do, we do safely. So my concern is if we pause and acknowledge great performance in this area, we may take our eye off the true reward, and that being our people and their daily wellbeing and operations. I'm again pleased to advise that both Australia and the US reflected improvements quarter on quarter, and we continue to remain well below relevant industry averages. In Australia, The 12-month rolling average total reportable injury rate as of September was 2.43. This is a 41% improvement on the same time last year. And in the United States, our 12-month rolling average total reportable incident rate was 1.6. This is a 25% improvement. Notably in a quarter, the Logan complex continued their strong safety performance, achieving 1.5 million hours or more than one year LTI-free. And at a group level, the TRIR rate was 0.91 compared to 1.33 this time last year, a 32% improvement. Putting this another way, these results reflect a record low for the United States business unit and the lowest incident rate in Australia and for the group since early 2018. This comes from our people living our values and their resentless focus on safety. I'd like to take the opportunity to thank and congratulate our people for their strong performance and encourage them to hold their gaze on the true reward, that being our people. In addition, during the quarter, our CARA team continued their work on the Dreadline Proximity Awareness Project. This world-first solution protects people and equipment working in proximity to dreadlines. Solution has generated significant interest and several of our industry peers have visited Currah to better understand our technologically engineered solution and we encourage them to adopt this in their operations and invite others to continue to visit us. Turning to our operations. We completed the third quarter showing improved performance year-on-year across waste movements, run-of-mine coal mining, saleable production, and this all came despite the unforeseen challenges in quarter three. Year-to-date group run-of-mine coal production was 19.3 million tons. This is 4% higher than the prior year. And saleable production was 11.9, also up on the prior year. In the third quarter itself, Group run of mine, coal mine, production was 5.9 million tonnes and salable production was 3.7. While production rates are higher on a year-to-date basis, coal production was lower during the quarter from the Curragh complex of mines. This is due to our mine plans focused on pre-strip activities under the One Curragh Plan and then also the impact of the dragline not being able to expose coal in the failure in late September. Additional to note in the quarter is we completed planned annual maintenance shutdowns on both our preparation plants through the quarter. Having two preparation plants, we continued production, albeit at reduced rates. We continued to run one plant while the other was shut down. This is a benefit offered by a mine that has long life and excellent infrastructure. During the quarter, Curra set new records on overburden movement. Eclipsing the record set last quarter, the team moved nearly 52 million BCMs in the quarter, bringing total waste movement year-to-date to 144 million BCMs. This is a 7% increase on prior year. I'll once again note that this record was set in a quarter where we did have an impact of having a drag line experiencing mechanical failure from mid-September. The repairs to the drag line continue. and expect it to be completed in the next two weeks. To ensure we take opportunity and adversity, while we're repairing the propelled unit on this drag line, we also took the opportunity to undertake maintenance that was planned to occur in 2024. The benefit from this will be reaped in the quarters to come. While I'm talking about taking opportunity and adversity, the coal deferred into later quarters the drag line failure will likely be sold at higher realised prices. For the remainder of 2023, the current team are focused on delivering the production plan and the costs as advised by guidance. The budget process for 2024 is currently underway and the demonstrated systemic improvements realised in 2023 will be implemented in our plans in 2024. This will include fleet rationalization and cost reductions. As we come to the end of the overburden advance and pit geometry improvement programs identified under our one current plan. At our US business segment, the Logan complex of mines continue to perform well in the quarter. And as previously noted, production was impacted by the geological conditions in the coal seams at Buchanan. And this slowed our production rates and impacted yield. This type of rock intrusion is not uncommon in underground mines and our team at Buchanan once again proved themselves in managing this very successfully and limited the impact of the event and also knock on impacts of the event. While the geological conditions are now back to normal we are focused on the remainder of 23 and early 24 to make every effort to recover the deferred tons and once again potentially at higher prices. Turning to sales volumes for the group in September quarter, we sold 4.1 million tonnes. This is 3% higher than the June quarter. And sales volume from Australia and the United States operations in Australia was 2.6 million tonnes. This is 5% higher and respectively 1.5 out of the US. The sales profile from Currah is higher in the quarter due to the higher inventory stockpiles held at the end of June. These we've been partially unwinding during the quarter. The sales profile from Curragh could have actually been higher, but for three shipments that were delayed into the December quarter due to logistic chain delays at port, this is about 130,000 tonnes. I'll now hand over to Gil to talk us through the financial position and market outlook.