Jefferies flags liquidity risk at Coronado Global Resources
Jefferies says Australian co Coronado Global Resources' CRN.AX ability to remain going concern depends on successful ramping up of Mammoth and Buchanan mines in December quarter and increasing cash flow at lower unit costs
Metallurgical coal producer is targeting saleable production of 20.5mt via expansion at its Mammoth mine in Queensland and Buchanan site in the U.S., among others
Brokerage warns expansion must be balanced against liquidity
Sees liquidity dipping to ~A$91 million in September quarter, but set for improvement in 2027
Given 35% of co's production is U.S-based, analysts see CRN benefiting from weather-driven supply disruption common to Australian met coal exports
Raises PT to A$0.30 from A$0.20, maintains "hold" rating
YTD, stock down 63.4%
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