A dividend despite having to expend $15.7 million on redundancies ("thanks", Annastacia Palaszczuk) and $37m on 'onerous contracts'. At ba quick read, I didn't see what these were. Something relating to the New Acland Mine situation given how Stage 3 cannot yet proceed?
Net debt has dropped from $293.3 million to $80.8 million, probably unsurprising given the convertible notes issue.
Very pleasing that although total production was 9.6 million tonnes, sales were 10.0 million tonnes. Notably, production dropped by 18.27 per cent but NHC became profitable after being lossmaking in FY 20.
The median (a true 'average') price of coal achieved rose only from $91.54/tonne to $101.36/t but as others with more knowledge assert, NHC benefits less from upswings in thermal coal prices than does WHC (which I and many of us also hold).
Well done to Mr Robert Millner, Directors, CEO and hardworking staff including essential miners. We love you, and you're helping millions of Asians benefit from affordable, 24/7, reliable electricity just as Westerners can.
No credit to brainwashed schoolchildren who tie vital companies like NHC up in pointless, costly and time consuming legal action.
NHC Price at posting:
$2.06 Sentiment: Hold Disclosure: Held
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