Coronado Global Resources Inc.

Thank you for standing by and welcome to the Coronado Global Resources second 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 second 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 other key information related to safety, full markets, and financial performance. A more detailed outline of our financial position and results will be released to the market on the 6th of August, with our Form 10Q and half-year earnings release. Today, I'm joined by our Managing Director and CEO, Douglas Thompson, and Group CFO, Gerhard Ziems. Within our report, you will see our notice regarding forward-looking statements and reconciliations of non-US GAAP financial measures. We encourage all listeners to review these statements in conjunction with our other filings for the ASX and SEC. We also remind all participants that Coronado quotes all numbers in US dollars and metric tonnes unless otherwise stated. With that, over to Douglas.

Okay, thanks, Andrew. Let's get into this. For the June quarter, the Coronado team remained focused on our plan and achieved outcomes and milestones as set by our plan, delivering materially improved production, sales, cost, and revenue results. It is pleasing to report our business delivered higher group ROM coal production at 7.4 million tonnes, up 24% on the March quarter. higher salable production of 4.1 million tonnes up 22%, higher sales volumes at 4.1 million tonnes up 8%, and materially lower group mining costs at $91 a tonne down 27%, and higher total revenues of 674 million up 1%, along with several other underlying and enabling milestones within our plan. These results reflect 18 months of hard work from everyone in the business to drive the business forward and produce positive results. But the job is not finished. Our plan has more to offer. We will continue to press for further operational and cost gains in the coming quarters via the safe implementation of additional productivity improvements and the development of our organic growth pipeline. And I'm excited for the benefits ahead of our shareholders. as we progress our mammoth underground project and expansion works at Buchanan, both of which have extremely positive prospects and continue to be developed from the operational cash flows of our business without the need to raise additional debt or equity from the market. But before I elaborate on our operations, I will start by focusing on an overview of our safety performance. As reported in a prior public announcement on the 31st of May, the company temporarily suspended operations that became in mind following the fatality of one of our team members, Brock Jackson. The incident occurred at the commencement of the evening shift. We are deeply saddened by this event. I'll take this opportunity to once again extend our sympathies and condolences to the family, friends, and colleagues of Brock An investigation into the incident is underway and until the investigation is concluded, we cannot provide further comments other than to note our continued support for his family and co-workers. Anne Buchanan mine resumed operations on the 3rd of June and there are no directives or restrictions on the mine. This tragic incident is a reminder to all of us that there is no more important outcome from our day at work than returning home to our family and friends safely. Now turning to our safety statistics as of the 30th of June. At the group level, our total recordable injury rate was 1.01 compared to 1.18 at the same time this year. And if we split by segment, our Australian 12-month rolling average Total recordable incident frequency rate as of the 30th of June was 1.29 compared to 2.52 in the prior year. And our US 12-month rolling total recordable injury rate was 2.26 compared to 2.56 the prior year. Both rates are lower than prior year and below industry averages. Turning to our operational performance. Both our Australian and U.S. segments realized improved production rates, sales volumes, and lower costs compared to the March quarter. In Australia, our Currah Complex delivered ROM coal production of 3.8 million tons and salable production of 2.7 million tons, reflecting increases over the March quarter of 37% and 23% respectively. These significantly improved results are multifaceted and outcomes from our plan, but are principally due to the completion of the historic pre-strip waste deficits and the subsequent removal of four fleets in late March, combined with improved productivity from our dragline fleet, as we take advantage of improved pit geometry gained by our engineering changes made over the last 18 months. The dragline fleet continue to meet our improvement targets, with the ratio of waste movable by drag lines compared to truck and excavator at 44%, up from 37%. And total waste movements in the June quarter and year to date are our plan. During the June quarter, Currah also experienced less interruptions to production with lower rainfall reported quarter on quarter. However, heavy rain late in June did see about 100,000 tonnes of ROM production deferred to July. And Currah's railings to port were also temporarily impacted by a traffic accident on the Blackwater line in late June that resulted in a rail outage for approximately five days. The cost structure at Curragh has materially improved quarter on quarter, following the fleet removals, productivity improvements and contractor rationalisation. The Australian segment average mining cost per tonne sold for the June quarter was $81.70 per tonne, reflecting a 36% improvement quarter on quarter due to the operational improvements previously mentioned and combined with higher production. This cost per ton improvement equates to approximately 100 million tons of gross mining cost improvement in the quarter and is the lowest cost per ton rate for Currah since the March quarter of 2022. At Currah, we are targeting further productivity and cost improvements in the September quarter with a planned removal of an additional contractor fleet. This is about 13 pieces of equipment that are removed from operations. The removal of this additional fleet is not expected to impact current or future production plans at Currah. Upon full demobilisation, this will take the number of contractor fleets removed from Currah to five, and plus the introduction of the new Coronado Komatsu PC7000 excavator, which is contributing to our overall productivity and gains at site and coal exposures. Operation limits Currah finished the June quarter in a strong position with elevated stockpiles, and the positive momentum achieved in the quarter has flowed into July as we strive to continue to deliver according to our plan. Our U.S. operations also performed well in the June quarter, delivering improved production, sales volumes, and lower costs per tonne. The U.S. operations delivered ROM coal production of 3.6 million tonnes and saleable production of 1.4 million tonnes, reflecting increases over the March quarter of 11% and 18% respectively. The June quarter ROM and sales production were higher at Buchanan as we continued to mine in our newly developed southern panels. During the quarter, the mining conditions improved, and as forecasted, yield improvements started to materialize. Subsequently, Buchanan's ROM production was up 11%, and salable production was up 21% quarter on quarter. The mine continued to experience improved skip efficiencies following the maintenance work undertaken earlier in the year, and our conveyor belt systems continued to perform well, resulting in skip counts continuing to operate at their best rates in the last two years. In the September quarter, our plan currently has development of the next panel in the northern district ready for mining. And for a portion of time, we may have the ability to run both longwall sections at the same time. This is forecast to further increase the product yields from Buchanan, given the northern district has a high yielding section. At Logan, ROM and salewall production in the June quarter were up 11% and 14%, respectively, compared to the March quarter. These production improvements are due to the re-establishment of mining in the Pelton mine, and incremental tonnes gained from high-wall mining at our surface operations. The US operations noted a significant improvement in cost per tonne in the June quarter, principally due to higher production rates achieved. The US segment average mining cost per tonne for the June quarter was $110 a tonne, reflecting a 10% improvement quarter on quarter. As a result of these strong June results, and our forward plans, we today reaffirm our previously announced 2024 guidance metrics. I'll now hand over to Gerhard who will take us through our financial position and give us a bit of a market update.