$184.3 million in fixed assets. Of which is earning 11.6% since inception (p.a) - about the only good thing in this report.
Guiding to sell 5.25m tonnes of coal in the second HY.......
Unless taking on debt for the Malabar investment, one would assume the dividend will be slashed significantly this HY. A 20c dividend would cost around $175m.
Good to see New Acland moving.
Always have hated how NHC reports their costs - it's vague until you get to the HY or FY Reports.
My takeaway: market is right to sell off and price this lower, but NHC are following a very Sol Pat approach - constantly investing and growing, not really making much of the external noise.
Not a large position for me, so I will be holding, but need to run some numbers again - Thermal is not really the place to have been over the past 6 months.
NHC Price at posting:
$4.84 Sentiment: Hold Disclosure: Held
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