Coronado Global Resources Inc.

Thank you for standing by. Welcome to the Coronado Global Resources second quarter investor call. All participants are in a listen-only mode. There'll be a discussion of the results from the CEO and CFO, followed by a question and answer session. If you wish to ask a question, you'll 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 Chantal Esser, Vice President, Investor Relations. Please go ahead.

Thank you operator and thank you everyone for joining Coronado's third quarter investor call for 2024. Today we released our quarterly report to the ASX and SEC in which we outline our production and sales statistics as well as other information related to safety, coal, markets and financial performance. You will note slight enhancement in format to improve information exchange. A more detailed outline of our financial position and results is expected to be released to the market on the 13th of November with our Form 10-Q. Today, I am joined by our Managing Director and Chief Executive Officer, Douglas Thompson, and our Group Chief Financial Officer and Head of Strategic Investment, Gerhard Ziems. Within our report, you will see our notice regarding forward-looking statements and reconciliations of certain non-US GAAP financial measures. We encourage you to review these statements in conjunction with our filings with the ASX and SEC. I also remind everyone that Coronado quotes all numbers in US dollars and metric tons unless otherwise stated. I'll now hand the call over to Douglas.

Thanks, Chantal. In summary, it's been a mixed quarter for us. We're pleased with the strong results achieved by US business units. the northern and southern districts at Buchanan have delivered the planned productivity increases and yield blending that underpin the strong result. We issued a new series of notes that closed oversubscribed and with improved pricing and terms. Our safety results remain better than industry averages, and we finished the northern American annual contract negotiations for next year. But we suffered from adverse geological conditions at Logan, plus mechanical and geological impacts at Currah this quarter. These impacts were further compounded by a 10-year record rainfall at Currah in August. And an unfavorable weather outlook for the remainder of the year necessitated a revision of our full year production and cost guidance. As we have previously demonstrated, there is upside to our Q3 performance, and we will continue to press for operational and cost gains in the coming quarters. Key metrics achieved in Q3 were group ROM production, 6.3 million tonnes, saleable production, 3.8 million tonnes, and sales volume, 3.9 million tonnes. We remain focused on delivering our Mammoth underground project at Currah and the expansion works at Buchanan. Both projects have extremely positive prospects and continue to be delivered from our available cash. At a group level, our total recordable Injury rate was 1.13, remaining well below industry averages in both the United States and in Australia. And in Australia, the improvement journey is very positive, with a 12-month rolling average showing a 36% improvement year on year. And in the US, we're seeing improving trends. Turning to page two, you will see our operations and sales summary. On a year-to-date basis, at September, Coronado achieved a ROM coal production of 19.7, This is up on 23 and up on 22, reflecting improved planning and efficiencies from across all of our operations. The Australian Business Unit experienced a difficult September quarter. The Currah complex delivered a wrong coal production of 2.6, which is down on the prior quarter. As previously reported, Currah was impacted by unplanned repairs to the bucket wheel and overland conveyor. Production was affected for a two-week period while the repair works were undertaken. And in addition, a geological anomaly, two zones of coal thinning, further impacted our own coal production in the quarter. This has been addressed by additional exploration drilling to better define the geology in the two impacted zone areas. These events were compounded by the heavy rainfall in August, which was more than three times a 10-year monthly average for the area. Albeit the mine has greatly improved flexibility post the recovery of historic waste deficits, these events in the quarter were beyond the operating system's ability to recover within the quarter. August adverse weather and then the La Nina forecast for spring and summer in Australia contributed to the announced change in our financial year 2024 guidance back in September. To best utilise time during the delay in production, planned dragline maintenance was brought forward, which is expected to benefit Q4 utilisation and productivity. Due to the improved productivity in our dragline system, an additional fleet can be idled in late October, which will further reduce the mining costs at the Cairo complex. The fleet planned to be idled consists of a company-owned shovel, T282 trucks and associated equipment. Once idled, the Curragh complex will have removed six fleets from the operation since April of this year. With a 4% increase in productivity across our truck and excavator fleets that has been sustained since Q1, we do not plan to return these fleets to operation. Our mine site cash costs have decreased by more than $20 million a month from this time last year. measuring Q3 2023 to Q3 2024. This shows that despite our mixed quarter at Curragh, the efforts of our people to follow our plan in a determined and disciplined manner is delivering opportunities for improvement. This plan is focused on optimising performance by enabling productivity and removing system complexity. With the completion of the historic pre-strip deficits and the subsequent removal of multiple fleets delivering quarter-on-quarter cost-based improvements. Our efforts in the quarter turned to focusing on improving productivity from our dragline systems, the system being our draglines, our dozer push, and our cast blasts. The dragline system continued to exceed improvement targets, with the ratio of waste moved by draglines compared to truck and excavator now at 47%. This is 3% above our plan for the year and is up from 37% in financial year 2023. The next major milestone in our plan is the enablement of alternate coal source, which is not impacted by wet weather and is at lower cost per tonne than our current operation. And the soon-to-be operational Mammoth Underground offers this milestone. First coal is planned for late Q4, subject to approval. And I'll elaborate on progress made on Q3 later in my address on this project. Moving to our U.S. business unit, performance remains strong. The U.S. continued to improve quarter-on-quarter throughout 2024, delivering higher production, sales volumes, and lower cost per tonne. The U.S. operations delivered ROM coal production of 3.7 million tonnes, a positive and sustained trend. The cannon's September quarter ROM and sale production was higher, as mining activities benefited from running both along walls. During the quarter, yield improved as mining conditions improved and we blended from the north and southern districts. The cannons ROM production was up 9.5% and salable production was up more than 23% quarter on quarter. The mine continues to achieve improved skip efficiencies following the maintenance works undertaken early in the year and the conveyor belt system is working well. And skip counts are at their best rate in the last two years. I'll now hand over to Gerhard to take you through a financial update and a bit of a market overlook.