It was big rain which turned their big open cut pits into...

It was big rain which turned their big open cut pits into swimming pools, not great, but feels like it could've been worse . Think WHC has more underground which might have reduced impact (note Moolarben wasn't impacted, but HVO was). Yal's full year guidance is 35-37 (i.e. 8.75-9.25/qrtr) and they previously done 39. So some expectation of this loss appears baked in to guidance. As is, they have some ability to sprint/catch up.

regarding comparison to WHC - they produce much less (15 vs 37mt) at better quality but higher cost. Current Newc6000 margin is helping them a lot, but current quality spread is massive compared to historical, and certainly nothing a company can control. Delivery to guidance is good, but not only yardstick to use. To my view, why pick a favored child, I happily own both

Looking at value to price, both are dirt cheap but YAL even cheaper. i.e. If YAL produces 16.5kt for the half (below guidance) at the current avg coal price, $72/mt production cost & $20/mt royalty, I'd roughly estimate they could make underlying EPS of $1.2 per share for the half. That puts them at a P/E of ~ 2-2.5 for full year. WHC is predicted to hit $1.2 for full FY22.... That puts them at P/E of 4. I think that's the cost YAL pays to be illiquid and majority foreign owned. But seriously both are soooo cheap, why pick, both are good