Coronado Global Resources Posts $418M H1 Loss, Cash Halves to $98M; Secures $75M Glencore Prepayment
CODQL has more than doubled off its 52-week low of $0.01.
Summary
Coronado Global Resources reported a $418M net loss for H1 2026, with cash halving to $98M. A post-quarter $75M Glencore prepayment at 14% interest highlights liquidity strain.
Key Events · Earnings and Guidance · CODQL
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H1 2026 Net Loss of $418M
Six-month net loss reached $418.0M, including a $177.5M impairment on the Logan mine. Q2 alone saw a $99.4M loss, though operating performance improved sequentially.
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Cash Position Halved
Cash and equivalents dropped to $97.7M at June 30, 2026, from $173.0M at year-end 2025, driven by operational impacts and capital spending.
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$75M Glencore Prepayment at 14%
After quarter-end, subsidiaries entered two offtake agreements with Glencore for up to $75M in prepayments at 14% interest, repayable via coal deliveries over 12 months.
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Logan Mine Sold for Nominal Consideration
The idled Logan mining complex was sold on July 31, 2026, for nominal consideration, resulting in a total impairment of $177.5M for H1 2026.
Analysis · CODQL · Energy & Transportation
A sharp financial deterioration marks Coronado's Q2 2026 10-Q. The six-month net loss ballooned to $418 million, driven largely by a $177.5 million impairment on the idled Logan mine. Cash and equivalents fell to $97.7 million from $173 million at year-end, though management asserts sufficient liquidity for at least a year. The company has commenced a restructuring and, after quarter-end, secured up to $75 million in prepayments from Glencore at 14% interest — a high-cost lifeline that underscores the cash crunch. The Logan mine was sold for nominal consideration, removing a cash drain but crystallizing the impairment. While the company returned to positive EBITDA in Q2, the balance sheet stress and reliance on expensive financing are the dominant themes.
At the time of this filing, CODQL was trading at $0.18 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $276.2M. 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.