Hey Mate Thanks for the note. I missed the first part of the call.
What do you mean by this? The way the deal was structured with BHP allows them a fair bit of balance sheet flexibility. They have effectively run their position down to next to $0 in cash but used their operational cashflow to supplement themselves for up to a full year.
Im still perplexed that I estimated them to have around 400M FCF this quarter but net debt was only down 100M. Considering they have said all major capex is on the back burner.
I am sure there is a reason I just need to wait for the Yearly
WHC Price at posting:
$8.32 Sentiment: Buy Disclosure: Held
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(20min delay)