Think you missed a few points in the presentation.
shutdown maintanence was brought foreword due to wet weather. This means it will not have to be done in future quarters meaning production will catch up.
as for debt who cares if it is for growth capital? Our leverage will be zero to negliable at best and growth cap spend increases revenue and in this case also margin (reduced strip ratio). Remember WHC went into over a billion in debt and spent all their billions in cash to acquire BHPs coal assets. And their share price boomed as a result!
CRN management commented in the presentation that their organic growth strategy increased resource at a far cheaper cost than their rivals.
oh and coal futures have been rising strongly for the past week.
News: CRN Coronado Global Resources Posts Group Revenue Of $668 Million For March Quarter, page-12
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