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 team, 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 Chantelle Esser, Vice President, Investor Relations. Please go ahead.

Thank you Darcy and everyone for joining Coronado's June quarter investor call for 2025. Today we released our quarterly report to the ASX and SEC in which we outline our key information related to safety, production, sales, coal markets and financial performance. A more detailed outline of our financial position and results is expected to be released to the market on the 12th of August with our Form 10-Q. Today I am joined by our Managing Director and Chief Executive Officer, Douglas Thompson, and our Chief Financial Officer, Barry Vandermeer. 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 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. I'll now hand over the call to Douglas.

Thank you, Chantal, and thank you everybody for making the time to join us today. Overall, we've demonstrated significant progress in the last quarter. We've executed to our plan and ended the June quarter on a six-year record ROM production. Despite weather events in the quarter, idling one of our mines and other assets, and planned shutdowns to enable our growth projects. We've improved our business resilience, and this reflects the capability of our mines to be operated to meet the market, a great result by our team under current market conditions. And we expect H2 to materially grow in returns with our expansion projects now in full execution. Jenny Bedard was also positive, covering our capital expenditure in the month. Our cost reductions have delivered, and we continue to execute these to plan, and our costs have reduced to below guidance levels in the quarter, and have improved on prior quarter and on prior year. We will deliver material volume increases in the second half of this year, as our high return mammoth and Buchanan growth projects are both in production. with three panels now operating at Mammoth and the Buchanan expansion producing its first coal. We expect the annual incremental run rate of approximately 3 million tons to show in the second half of this year as these projects now ramp up to full capacity. We've closed the new ABL facility and the Stanwell transaction to the end of the quarter with improved immediately available liquidity of $284 million. Given the extended market conditions, we continue to work through a series of steps to extend and optimize our liquidity further, if required. Key metrics achieved in quarter two were group ROM production, 7 million tons, up 20%, and our saleable production and our sales volumes were both 3.7 million tons in the quarter. At a group level, Our total recordable injury rate was 1.05, remaining well below industry averages for both the US and Australia. On our group performance, as I've said, June was a six-year record ROM performance, and the quarter delivered a 7% improvement in saleable production. And our total inventory at the end of the quarter was approximately a million tons. From a group perspective, the increased production is expected to have a material impact on EBITDA and free cash flow growth in the second half. Moving on to operations, specifically in the quarter, for our Australian business unit, the June month was significant. We exceeded plan from a ROM production perspective and achieved plan for sellable productions. Our ability to recover volumes after unplanned events has been more consistent than in the past, demonstrating the resilience that we've built into the business. And performance this quarter reflects the ability to manage the mines to meet the market. The increased production is before the incremental volume increases expected from our growth projects, as these are still in ramp-up phase. Cost reductions continue to be realized, and the average mining cost for tons sold in quarter two was below our forecast and budget and well below the lower end of our guidance levels. The third continuous miner commenced production in late June at Mammoth, and Mammoth now has three production panels in operation, and they are on line to achieve their full year planned production. Mammoth is expected to deliver a run rate in the second half of the year of up to an additional 2 million incremental tons. Moving to our US business unit, we had our planned long-wheel move in the quarter, and we also undertook shutdowns at Buchanan. These were enabling shutdowns that tie the new infrastructure for the expansion project into the existing infrastructure. The U.S. continues to make incremental improvements every quarter, delivering higher-on production, sellable production, and sales volumes than the same time last year and last quarter, despite these additional shutdowns, idling one of our mines, and idling select assets. Our Buchanan expansion is now 100% complete, on budget and on schedule. And I'll note, this is the second project our team has delivered on time and on budget. We are producing coal and finalizing commissioning of the shaft. The project is expected to deliver approximately additional 1 million annualized run rate from the second half of this year. Together with the dual long walls now at Buchanan, we expect the US business unit to exceed 7 million tons per annum going into the future. This additional capacity has been created by this expansion project. It's great to celebrate the successful completion of two major projects, the Buchanan expansion and the Mammoth Underground within a six-month period. And we're looking forward to enjoying the incremental tonnage that will come from these projects as they ramp up in the second half of this year. And with that, I'll hand over to Barry who will speak to our financial position.