CRN
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Company News
Coronado Global Resources finalises $150m ABL facility to improve financial stability
Pure play metallurgical coal producer Coronado Global Resources (ASX: CRN) has moved to stabilise its financial position with the refinancing of the company’s existing asset-based lending (ABL) facility. Subsidiary Coronado Finance has entered into a binding commitment letter for refinancing of the facility with Highland Park XII, an affiliate of Oaktree Capital Management. The company […]
Coronado ends merger discussions with Peabody, Suncorp flooded with claims and Medibank remains calm despite threat
Queensland-based Coronado Global Resources (ASX: CRN) has ceased merger discussions with global coal giant Peabody Energy Corporation (NYSE: BTU). Both parties jointly agreed to end talks over a deal that was estimated to be worth more than $9 billion. Following the collapse in negotiations, Coronado’s share price tumbled around 5% at the start of the […]
Qantas eyes return to profitability, High Court clears BHP class action and BrainChip receives 10th US patent
Australia’s largest airline Qantas (ASX: QAN) has announced it is expecting a return to profitability after more than two years of losses due to COVID-19. Qantas anticipates an underlying profit before tax of between $1.2 billion and $1.3 billion for the first half of the 2023 financial year. The company said the expected profitability would […]
Are Australian coal mining companies oversold?
There is a world of difference between a commitment to “phase-out” a commodity, and a proposal to “phase-down” a commodity, which is a reason for taking a fresh look at heavily oversold Australian coal mining companies. While not widely researched because they have become ethically incorrect, some coal stocks are trading at close to half […]