Whitehaven Coal to Rare Earths?, page-8

How do you want WHC to do with the surplus retained cash - keep it under the pillow? All companies with surplus cash invest it or return it to share holders. And if it invest in other companies but below the reportable shareholders limit, why should the company broadcast it?
The decision where to invest will depends on each circumstances such as when the company need to use the surplus cash or what the company intention on the surplus cash in the long term.
WHC has a huge cash stockpile and the BHP mines purchase payment terms were IMHO favourable to WHC and does not require any capital raisings. The decision to invest the cash stockpiles in other companies indicate management confidence in maintaining the current positive cashflow from operations in the forseeable future. It should be a positive signpost instead of an alarmist sign post?