Coal stocks declined from 3.7m to 1.8m tonnes between June quarter and September quarter. That is how they were able to keep the same level of liquidity between the two quarters.
They sold the June quarter build up in inventory in the current quarter which offset the PnL loss in the quarter so that they were effectively cash breakeven in the quarter.
I think the really good news in the announcement was the change in the ICR covenant and that the banking syndicate didn't increase the margins on the facility to change it. Still, they do need the coal price to rise quite a bit or costs to come down (or both) to start generating some cashflow.
Ann: September 2020 Quarter Production Report, page-19
Add WHC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$8.06 |
Change
0.210(2.68%) |
Mkt cap ! $6.743B | |||
| Open | High | Low | Value | Volume |
| $7.98 | $8.06 | $7.94 | $29.97M | 3.735M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 83044 | $8.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.06 | 13939 | 5 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$8.03 |
Change
0.210 ( 2.62 %) |
||||
| Open | High | Low | Volume | ||
| $7.97 | $8.06 | $7.94 | 635689 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| WHC (ASX) Chart |