I disagree, sorry (and just remember that Vanguardian thinks all bad news is priced in and good news isn’t).
But NHC isn’t at $10/sh yet because whilst Mr Market is forward looking, NA3 is still some time away from producing any meaningful cashflows, and cashflow is all that coal investors care about right now. The most recently quarterly showed the NA3 production profile, first ROM coal mined isn’t until Q4 this FY23. They’re aiming for 2.5Mtpa in FY24 and don’t reach steady state until FY25. Then you have to discount these figures because of ramp-up risk, weather etc. So NA3 is great news but it’s still some time away from moving the share price in material terms. Cheers
NHC Price at posting:
$6.58 Sentiment: None Disclosure: Not Held
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