Ann: June 2021 Quarterly Report, page-3

Pleasing to see record railings of coal from the Maules Creek mine of 1.1 million tonnes in June 2021. This mine had 'record annual production'.

The inability to fix technical issues ('geological challenges') in a timely manner at the Narrabri mine may be negatively received, as saleable coal production in the June quarter from it fell 88 per cent compared to the June 2020 quarter.

Comments re thermal and coking coal demand (and pricing) are encouraging, even though there has been and probably will be a discount re the prices WHC achieves:

Thermal and Metallurgical Coal Outlook

China’s ban on Australian-origin coal continues, however, strong Asian seaborne thermal coal demand has resulted in gC NEWC coal prices rising 166% between August 2020 and the last week of June 2021. There are no signs of demand weakening, natural gas prices are high and a strong summer demand period is forecast for northern Asia...

...All thermal coal supply remains tight in the September quarter, as reflected across all price indices. Metallurgical coal prices have also surged in the June quarter reflecting strong demand from steelmakers and supply constraints from major producers in Queensland. Hard coking coal increased from approximately US$110.00/t to approximately US$200.00/t in the June quarter, while the backward-looking JSM quarterly semi-soft coking coal benchmark price was settled at US$93.00/t. The backward-looking metallurgical coal price indices are expected to improve in the September quarter.

The 'logistics update' also has some good news not just for WHC but other miners:

"Whitehaven rails coal from mine to port via the Hunter Valley rail network and exports coal through the Port of Newcastle using the two export terminal providers, Port Waratah Coal Services (PWCS) and Newcastle Coal Infrastructure Group (NCIG). In the December 2020 Quarter Production report and half year FY21 Results Whitehaven reported that in mid-November 2020 one of NCIG’s two shiploaders (SL2) was damaged in a storm. Since the storm event NCIG has been operating at reduced capacity using SL1. Repair work on SL2 has proceeded ahead of plan and we anticipate SL2 to be operational early in the September 2021 quarter."