Target $18.72, page-9483

1. There was a typo in my 2.7.24 post- apologies. WHC turnover was not for the last 2 days 81.49m shares & 129.2m shares- but, of course, $81.49m & $129.2m. Huge buying, by instos.



2. marcustoday.com.au wrote, in their 2.7.24 Evening Summary member email, that WHC is a "Major Mover" because Brokers (plural- but no details provided. Can anyone provide the details of the various Brokers here, please?) because of "Broker updates"

"MAJOR MOVERS

• OBM +11.7% Annual statement.
• LTR +7.3% Strategic Partnership
• SXG +9.4% Bounces.

WHC +5.7% Broker updates"

Bodes well for continuing SP growth.



3. forbes.com T. Treadgold 2.7.24 said

"Anglo American’s plans to sell its Australian coking coal assets have suffered a setback after a fire in the Grosvenor mine which could see it out of action for months.

The loss of production from Grosvenor, which accounts for an estimated 1.3% of global seaborne coking coal, has already been blamed on a $20 per ton increase in the price of the steel-making material to $254/t on the Singapore Exchange...

Demand for coking coal has been strongly growing thanks to solid Indian and Chinese consumption.

The price is also heavily exposed to outages and supply shortfalls in Australia which supplies 60% of the world’s seaborne traded material.

Two weeks ago, Morgan Stanley’s investment advisory arm listed coking coal as its top commodity pick for the September quarter “as strong Indian demand and lagging Australian supply tighten the balance into the fourth quarter,” the bank said.

Yesterday, Morgan Stanley told clients that the duration of the Grosvenor outage was uncertain but likely to run into months because “the same mine was suspended for 18 months following an explosion in May 2020”....

Early Market Tightening

The bank said the problem at Grosvenor would help bring about an earlier tightening of the coking coal market following seasonal weakness with the price tipped to rise to $290/t in the fourth quarter.

UBS, another investment bank said Grosvenor had been expected to grow from annual output of around 3 million tons to 5m/t from next year and then up to 7m/t in 2027.

“However, given the site’s history and challenges now with this second gas ignition event, Grosvenor’s future is uncertain,” UBS said.

The flipside of Anglo American’s problem is bonus for smaller Australian-listed coking coal miners.

Whitehaven Coal’s share price has jumped 12% in the last two days, reaching a 12-month high of A$8.60, while Coronado Global is up 12.5% to A$1.34.

UBS reckons Whitehaven shares are heading up to A$10.90 (all emphases, mine) while Coronado should rise to A$2.70".

Fire In A Coal Mine Could Slow Anglo American’s Asset Sales Plan (forbes.com)