Target $18.72, page-7842

AFR P. Ker 19.1.24 said

"Whitehaven Coal’s shares rose to the highest level in a year after the miner said it had been oversubscribed by lenders and suitors clamouring for minority stakes in its new coking coal mines as part of the producer’ssteel industry pivot.

...More than 90 per cent of Whitehaven’s sales in the past three months were thermal coal for power generation, but the miner expects about 50 per cent of its future sales to be coking coal for steelmaking, after last year’s $6.4 billion agreement to buy BHP’s Blackwater and Daunia mines.

Whitehaven managing directorPaul Flynn has previously accused Australian banksof being too reluctant to lend to coal, but his chief financial officer Kevin Ball said on Friday the $US1.1 billion ($1.67 billion) loan to pay for the BHP deal had been “substantially oversubscribed”...

Mr Ball said he was confident that Whitehaven could close the BHP transaction without taking on further debt".

Whitehaven may eventually sell a stake in the Daunia mine too, but Mr Flynn said he wanted to fully understand the value of combining Daunia with Winchester South.
(Google AFR P. Ker Whitehaven share price hits one year high)