Thats pretty close to the numbers I'd use, and that's pretty close to what they paid. Without looking I think I had $800m for Daunia and 2.5b for BW. For the most part I've tried to evaluate on a cash generation v debt basis. It gets difficult when unknown forward sales are considered... that sorta blows out payback times, which adds risk to the current price. I think we're going to $14, but, we won't get there for a few years... and the risk for me is still the unknown levels of production reliability... last few quarters under BMA have been awful and BHP issued downgrades to guidance. As much as I'm happy to hold what I have, I'm not super bullish WHC right now, there's other opportunities to be had before I cycle back here and increase hodlings.
WHC Price at posting:
$7.69 Sentiment: Hold Disclosure: Held
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