No major issues - and looks relatively good compared to Dec...

No major issues - and looks relatively good compared to Dec Quarter 22 and CY2022.

Market outlook also appears quite positive.

• Underlying demand for high CV thermal coal remains strong in Whitehaven’s traditional and emerging markets in Asia, including to supply high-efficiency, low emissions (HELE) electricity generation, which is important for our customer countries as part of their long-term energy transition and decarbonisation plans. The structural supply shortfall in the seaborne market for high CV thermal coal is continuing to grow as a result of underinvestment in new supply and depletion of existing mines. This growing supply gap is supporting strong long term high CV thermal coal prices.
  
• The metallurgical coal market is also strong and the anticipated growing structural shortfall in HCC production to supply Asia demand, particularly to India, is expected to underpin metcoal prices over the longer term. In the December quarter, the PLV HCC index averaged US$333/t due to strong demand from steel producers, driven primarily by the burgeoning Indian market. This is coupled with supply constraints particularly from Australian producers. While the price relativities for SSCC and PCI remain below historical percentages of PLV HCC, favourable prices are still being realised. The Platts SSCC Index averaged US$161/t for the December quarter.