Coronado Cuts 2026 Guidance: Saleable Output to 14.0-14.5Mt, Costs Up to $105-110/t
CODQL has more than doubled off its 52-week low of $0.01 on light trading volume (0.1× avg).
Summary
Coronado posted $44M of Q3 earnings, its best quarter since Q2 2024, but cut 2026 saleable production guidance to 14.0-14.5Mt from 16-17Mt and raised mining cash costs to $105-110/t from $88-96/t.
Key Events · Earnings and Guidance · CODQL
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2026 Guidance Cut on Operational Setbacks
Saleable production guidance was cut to 14.0-14.5Mt from 16-17Mt and mining cash costs raised to $105-110/t from $88-96/t, reflecting Buchanan longwall geology, slower Mammoth ramp-up and weaker CHPP throughput.
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Q3 Earnings of $44M, Best Since Q2 2024
Quarterly earnings rose to $44M from $7M in the June quarter on higher realised Met pricing of US$183.5/t (up from US$170.5/t) and $19M lower quarter-on-quarter mining cash cost at Curragh.
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Liquidity Up $57M to $155M
Available liquidity reached $155M at 30 September 2026, supported by a US$75M Glencore prepayment, while net debt fell to $553M from $606M at 30 June 2026.
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US$50M of Revenue Slips to Q4
Port congestion left roughly 630Kt of coal stockpiled at port at quarter end, delaying vessels tied to about US$50M of revenue into the December quarter, with most vessels already sailed in October.
Analysis · CODQL · Energy & Transportation
Coronado delivered its strongest quarter since Q2 2024 — $44M of earnings versus $7M in the June quarter — but simultaneously slashed full-year guidance. Saleable production drops to 14.0-14.5Mt from 16-17Mt and mining cash costs jump to $105-110/t from $88-96/t, driven by Buchanan longwall geology, a slow Mammoth ramp-up and lagging CHPP throughput. That combination matters because the company is still working to deleverage a balance sheet carrying $553M of net debt after a $418M H1 loss; lower volumes at higher unit costs push out the free cash flow needed to get there. The offset is real: liquidity rose $57M to $155M on the Glencore prepayment, the PLV HCC index has moved higher to US$269/t, and roughly US$50M of revenue delayed by port congestion should land in Q4. Management frames 2027 at 16-17Mt — the original 2026 plan — so the reset is deferred, not abandoned.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 36.8% of the 1026 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.78%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CODQL was trading at $0.12 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $212M. The 52-week trading range was $0.01 to $1.80. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.