Commodities | 10:00 AMAfter a concerning December quarter, brokers consider whether higher met coal prices and mining improvement might just might make Coronado Resources worth sticking with. Group realised met coal pricing was US$149/t (74% realisation to the average hard coking coal (HCC) index) with higher thermal coal (for electricity generation: cheaper) sales to fulfill contracted volumes. Mining of met coal nevertheless is carbon-releasing.) UBS expects further improvements in portfolio volumes and costs, and resultant balance sheet recovery, views emphasis on downside risks as overdone, and regards Coronado as an underappreciated metallurgical coal “beta” (strong correlation with met prices) as met coal markets normalise. 2025 was a challenging year for Coronado with elevated capex and depressed coal prices.