Azzet reports on three stocks with price moving updates today.
Coronado tanks following suspended underground operations
Shares in Coronado Global Resources (ASX: CRN) were trading around 17% lower at the open after the Brisbane-based miner suspended underground operations at its Mammoth coal mine in Queensland following the death of a worker on Friday.
News of the mine shutdown follow revelations last Friday that a worker at the Curragh Coal Mine around 200 kilometres west of Rockhampton - which Coronado has owned since 2018 – had died following a roof collapse.
Within a market update following the incident, Coronado CEO Douglas Thompson told the market that the company was deeply saddened by the incident and extended its deepest sympathies to the family and colleagues of the worker.
Thompson said the company was providing support to contracted mine operator Mammoth Underground Mine Management, which was working with authorities to understand the cause of the incident.
An investigation into the cause of the incident is underway and while the underground section remains closed, open-cut mining at the same site resumed over the weekend after a 24-hour shutdown.
It is understood that the Coronado Curragh mining suspension creates immediate financial stress through zero-revenue periods while fixed costs continue accumulating.
The Mammoth Underground operation was projected to produce up to two million tonnes of high-grade metallurgical coal annually, translating to approximately 5,479 tonnes of daily production capacity loss during suspension.
Combined with the voluntary halt of Curragh North and Curragh South open-cut operations, the total complex suspension eliminates an estimated 20,000 to 30,000 tonnes of daily production.
At current metallurgical coal prices near four-year lows of approximately US$140 per tonne, daily revenue losses exceed US$1.4 million before considering operational cost continuation.
This is not the first time Coronado has experienced a fatalities within its operation.
In October 2025, the miner was fined $80,000 plus court costs for the death of one of its workers at Curragh, Clark Peadon, in 2021.
While another worker was killed at the mine in 2020, all charges in relation to that death were later dropped.
News of Coronado’s latest fatality follow on the heels of a confirmed the death of another employee working at its Logan mining complex in the U.S. on 19 December.
Recent fatalities have added to the stock’s dismal share price performance, down 58% in the last year, due to persistently low metallurgical coal prices.
The miner reported a realised price of US$145.10 per tonne in the third quarter of 2025, down 30% year over year.
But on a more positive note, the miner said its third quarter (Q3) saleable production was 21% higher than for the previous quarter at 4.5 million tonnes, the best result since 2021.
Prior to today’s update, Thompson had expected an even better 4Q result due to project expansion and cost reductions.
The third quarter was the second in a row in which unit production costs came in below guidance.
In the month of September, the unit cost was US$80 per tonne.
Last month, UBS reiterated its sell rating but lifted its 12-month target from 19 cents to 25 cents, but following today’s update this may change.
Coronado Global Resources has a market capitalisation of $523 million; the share price is down 8% in the last month.
While the medium-term picture appears solidly higher, the 200-day moving average is neutral and the 20-day moving average is bearish because it is trending lower.
Consensus is Hold.
Fenix Resources rallies on December quarter production update
Shares in Fenix Resources (ASX: FEX) were trading over 5% higher at noon after the small cap mining logistics, and port services businesses - focused on iron ore in WA - reported a record December quarter.
A record 1.2 million wet metric tonnes (wmt) of iron ore shipped during the quarter resulted in $79 million cash on hand, representing a cash build of $21 million net of capital expenditure, debt repayments, and tax costs for the quarter ending December 2025.
The performance from this last quarter equates to an annual production run-rate of around 4.9 million tonnes per annum (Mtpa) which Fenix told the market reflects the scalability of its integrated mining and logistics operations.
The quarterly results are being attributed to optimised mining operations across Fenix’s Midwest iron ore assets, more efficient haulage operations via the company’s wholly-owned subsidiary, Newhaul, and the streamlined Newhaul port operations at Geraldton.
Fenix reaffirmed its upgraded FY26 sales guidance of 4.2–4.8 million tonnes, with first-half shipments positioning it to meet full-year targets under normal operating conditions.
The 1.24 million tonnes of ore shipped was a milestone for the company - being the first quarter of production at greater than one million tonnes – which puts the company's annualised production at around 4.9 million tonnes of iron ore.
While Fenix is targeting slightly less than 5 million tonnes of exports from its three mines this year, the company has a three-year production plan, targeting 15 million tonnes of iron ore.
Commenting on today’s update, management told the market that Fenix's diversified mid-west iron ore, road, rail, and asset base provides an excellent foundation for future growth.
Assets include the Iron Ridge Iron Ore Mine, the Shine Iron Ore Mine, the Weld Range Iron Ore Project (including the Beebyn-W11 Iron Ore Mine), the Newhaul Road Logistic haulage business which owns and operates a state-of-the-art road haulage fleet; two rail sidings at Ruvidini and Perenjori, as well as the Newhaul Port Logistics business which owns and operates three on-wharf bulk storage sheds at Geraldton Port.
“Record quarterly iron ore shipments have resulted in a strong cashbuild, demonstrating the company's successful ramp up in production, consistent operational execution, and the strength of a fully integrated and scalable pit to port model,” management said.
Fenix Resources has a market cap. of $376 million; the share price is up 87% in the last year and up 13% in the last month.
While the 200-day moving average is trending upwards and highlights long-term investor interest in the stock, the 20-day moving average is falling as upwards momentum wanes.
Consensus is Strong Buy.
Island Pharmaceuticals is up following FDA update
Shares in Island Pharmaceuticals (ASX: ILA) were trading over 2% higher this afternoon after the small cap healthcare stock told the market that the U.S Food & Drug Administration (FDA) has requested additional time to finalise its response on the regulatory development pathway for Galidesivir under the Animal Rule.
The market has clearly responded favourably to revelations that while the FDA is continuing its review of the company’s submission seeking clarification on the development pathway for Galidesivir, there was no adverse feedback and no requests for additional data in the most recent correspondence.
To the uninitiated, Galidesivir is a broad-spectrum antiviral designed to stop RNA viruses (the kind behind Ebola, Zika and Marburg) from replicating.
For those new to Island Pharmaceuticals, the company has been working to progress Galidesivir’s regulatory pathway in the U.S and has been engaging with the FDA under what is known as the Animal Rule.
This rule allows drugs for deadly infections to be approved based on animal efficacy studies when human trials are not ethical or possible.
Today’s update follows previous FDA confirmation that Galidesivir is eligible for approval under the Animal Rule and for a Priority Review Voucher (PRV).
A lot is riding on this approval.
Management recently told the market that if it is awarded a PRV upon Galidesivir’s approval, it would expect to sell the PRV.
Recent PRV sales have ranged from US$150 million to US$160 million - which would certainly be a company-changing event.
Meanwhile, Island said it was continuing preparatory work, including study planning and engagement with U.S. government stakeholders, while awaiting further FDA guidance that will inform upcoming clinical trial initiatives targeting Marburg virus.
Island Pharmaceuticals has a market cap. of $119 million; the share price is up 161% in one year and down 18% in the last month.
While the 200-day moving average is trending upwards and highlights long-term investor interest in the stock, the 5-day moving average is below the 20-day moving average.
This is a bearish sign, for, at least, the near term.
Consensus does not cover this stock.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.