“I don't think a re-rate for WHC is close unless thermal coal...

“I don't think a re-rate for WHC is close unless thermal coal prices improve. They better hope that coking coal price stays stable”

For me If you have been holding since the Blackwater and Daunia proposed buy, then you are waiting for the full year results for a rerate - things are going to look good in regard to the financial report:

• They will have nearly double the production tonnes.
• Yes coal prices are down, but we should get 3 quarters of reasonable prices, and keep in mind WHC is 63% met coal.
• you will get debt down because we will receive the USD$1.08b for blackwater.
• my understanding is it wont be till the following year you will loose 30% of tonnes (blackwater) for the sell off so we are getting the boost to balance sheet without loosing the revenue.
• The full year report will be better than previous full year which the market should love.

Yes coal prices are down and coal producers are down because of the uncertainty in tariffs but thats across the board, why wouldn't WHC get a re-rate at least in relation to other producers?

Personally, I think the negative of 25% tariffs on incoming steel to the US (negative) is much worse for us than the 10%? tariff on US coal into china (positive) but my understanding is previously the US hasnt been able to keep the steel tariffs up as they depend on steel for company production and profits and use much more than they produce, so maybe if you can hold through it you will get a double re-rate. Hopefully you will also get a reasonable dividend to boot. I wouldn't discount the possibility of Trump changing his mind as well

In my opinion there is a lot more upside than downside at these prices. Of course it all comes down to will coal prices go up or down...