I suspect WLD will be same as ELD live export segment, recording an operating negative cash flow, even the proforma NPAT is possitive, because they would also have greater amount of debtors as ELD. Many indonesian importers are facing insolvency. Exporters keep shipping despite they receive the payment or not to bloost the sales, but some of debtors would never be received and would be written off as bad debt eventually. Worst is yet to come......
The good thing to open Chinese market is to have good customers that always pay on time. I think their big pocket Chinese partner would do better than indonesia importers.
WLD Price at posting:
37.5¢ Sentiment: Hold Disclosure: Held
