I agree with his comments around poorly timed capital raises at...

I agree with his comments around poorly timed capital raises at the bottom of the market, but to suggest that Coronado is poorly run or that Curragh is not profitable is a bit of an embarrassment.

At the time of the acquisition from Wesfarmers, the only long term contract in place was the domestic thermal contract to Stanwell. This onerous contract is what probably turned some potential acquirers off the asset. But to Coronado's credit, they renegotiated the contract with Stanwell to make it fairer to Coronado, and also secured the rights to the Stanwell Reserved Area which secured the long life of the mine.

Since that time, Curragh has been extremely profitable so this guy has no idea what he is talking about. It's got a long future for open cut mining, with multiple metallurgical products and potential for optimisation and expansions.