The real value of the acquisition of these two mines will be clearer once the June quarterly comes through. This will make it clearer in terms of the price per tonne received for the various types of met coal from these mines. This may be one reason why there hasn't been much of a market reaction to the purchase being completed.
Whilst being debt free is something nice to aim for and can be achieved earlier by selling off a portion of the mine (eg 20% being mentioned) I'd only like to see it if WHC can sell it at a substantial premium. If the mines are so valuable in the long term and are going to pay for themselves relatively quickly then why sacrifice 20% ownership unless it comes at a nice premium.
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