Fund managers including Collins St Asset Management, Maple-Brown Abbott, PM Capital and Glennon Small Companies have invested in Coronado Global Resources Inc (ASX:CRN).

Fund managers point to Coronado's cost-reduction program, including idling higher-cost US surface mines, and to lower-cost volume growth from the Mammoth underground project at Curragh and the Buchanan expansion. PM Capital also noted that a refinancing of its asset-backed debt facility in 2025 delivered a cash injection and improved liquidity, while earlier bulls such as Collins St highlighted its scale as a low-cost metallurgical coal producer leveraged to a recovery in steelmaking coal prices.

The dominant risk is the metallurgical coal price. Maple-Brown Abbott and PM Capital described prices trading deep into the cost curve, with growing Mongolian supply and no sign of high-cost producers curtailing output. PM Capital also flagged liquidity strain, an unfavourable funding and production agreement and a history of operational disappointments at Curragh, warning that the near term could remain difficult if coal prices stay below Coronado's sustaining breakeven cost.

Coronado Global Resources, Inc. is a metallurgical coal producer established in 2011, headquartered in Brisbane, Australia. The company focuses on the exploration and production of metallurgical coal, operating through two geographical segments: Australia and the United States. Its asset portfolio includes active operations and development projects located in Queensland, Australia, as well as West Virginia and Virginia, USA. Founded by Garold R. Spindler and James Campbell, Coronado Global Resources primarily serves the global steel industry by supplying the metallurgical coal required for steel production.