Yes, despite the exuberance here, the 30% selldown has basically allowed them to pay off the credit facility and settle most of the first US$500M progress payment, ending up only ~(A$200M) in the red, or perhaps closer to even depending on cash flows in the first quarter. What happens from here is all about met/thermal pricing considering there is still US$600M due thereafter across the following two years.
WHC Price at posting:
$5.56 Sentiment: None Disclosure: Held
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