Plenty of confusion regarding $CRN $CRN.AX new Stanwell agreement, and rightly so...Coronado will receive US$150m upfront, right now. This is a pre-payment for 4mt Thermal over 5yrs (800ktpa).The 50/50 blend between fixed spot pricing and forward curves have added an element of confusion...but it's a simple calculation of 150,000,000/4,000,000 = US$37.50/t forward sales.The details regarding the 50/50 pricing blend doesn't actually effect the realised price per tonne CRN are achieving. CRN aren't receiving a single extra cent more than the US$150m now...so the equation is as simple as noted.Coronado fails to note that the pricing blend they state is purely based off U.S GAAP accounting standards, and how they report revenue during that 2027-2032 period. Say we're in 2028, the domestic QLD thermal spot market is at A$120/t and forward curve at A$110/t...thats 800ktpa x A$115/t = A$92m revenue.What I imagine is that this number will be deducted off a "contract liability" on the balance sheet to book revenue, but isn't cash actually being collected. Essentially amortising a prepaid balance and using market-linked pricing to match delivered sales.It's all an illusion. They're receiving US$37.50 or ~A$57/t.
CRN Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)