Ann: Whitehaven refinances acquisition bridge facility, page-50

1.Thank you @afusco63 for providing the 20.10.23 analysis from G. Sodhi, from I.n.t.e.ll.i.g.e.nt I.n.ve.st.o.r Subscription service (As usual, a very detailed piece from G. Sodhi).



2.

Yes, because WHC announced yesterday it has recently refinanced the BHP US $900m bridging finance loan, it is now able to pay dividends as usual (but quantum unknown) from March 2024 -but only generated from its thermal coal profits.

WHC will make a payment to BHP by 1.7.24, for US $2.1b. Once the remaining US $1.1b debt is paid to BHP by no later than 1.7.27, BHP will be also able to make higher dividend payments on the huge profits it will be making from the 2 BHP met mines.

The total payment to BHP is US $3.2b.
Up to a maximum US $900m total is only payable to BHP (also prior to 1.7.2 2027), based on high met coal price contingencies occurring. WHC (& shareholders), therefore, will be "happy" to pay the extra, maximum US $900m- it means our profits are supercharged, much higher Earning Per Share growth. We can expect VERY BIG dividends!