I agree, could well be only 2 quarters left. Could be even 1 quarter left if FCF is negative $100m for the June quarter. The new CFO’s job is to reduce costs. We hope he can. They would be stupid to buy more equipment other than the equipment for the CAPEX for Mammoth and Buchanan. Any further equipment would be financed in my opinion which would reduce the outlay. Private equity in my opinion would come from EMG. It’s my belief that they have a huge say in the direction of Coronado. Buchanan and Mammoth would be worth way more than their current market cap. Get rid of Curragh which is not an option because Mammoth is in the Curragh pit and they need to supply Stanwell. It will likely go down to the wire. EMG owned Coronado before floating. Maybe even Svoboda will have a second crack?
CRN Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
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