I haven’t read any brokers reports/pricfe targets but I can’t see how anyone could recommend Coronado given it’s consistently missed production targets. Like you said it’s not making money with high coal prices. The company has previously stated that a $10pt rise in HCC price equals $100,000,000 pa increase in EBIT. Presumably a $10 reduction has a similar effect? From what I used to know about Curragh it was always on the lower end of the cost curve but now tonnes have dropped and costs have gone up. Honestly, if we see a decent downturn again I think it’s a $1 mine. I figure the only way you could back the company is if you believe the coal price is going higher and/or management have done a lot of work and high production is just around the corner…
CRN Price at posting:
$1.47 Sentiment: None Disclosure: Not Held
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