Correct me if I'm wrong but here is some cost curve commentary:
~125 NEWC is 75th percentile of the cost curve.
~100 NEWC is 50th percentile of the cost curve.
Spot is currently 120ish so we're well into the cost curve now.
WHC's costs inc. royalties are ~85 USD based on recent guidance which sits around the 25th percentile.
Should spot get to WHC's breakeven cost, ~75% of global export production will disappear.
Remember what happened post oil trading negative during COVID - same would happen to coal out the other side (on steroids) should we see a short term crash deep into the cost curve due to a global shutdown.
"The cure for low prices is low prices"
I agree with all in favour of a BB at current equity levels. Some of the $$$ earned from a selldown could be used to BB 100M shares = $700m @ $7/s or $800m @ $8/s.
Either way, it's a fun time dissecting this major transformation and the possible pathways it could go.
Ann: Half Year FY24 Results Presentation, page-169
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| Open | High | Low | Value | Volume |
| $7.72 | $7.79 | $7.66 | $18.32M | 2.378M |
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| No. | Vol. | Price($) |
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| 5 | 30034 | $7.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
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| $7.71 | 32743 | 7 |
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| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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| $7.72 | $7.78 | $7.66 | 438624 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
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