They are obviously building funds for something. - They already had cash in the bank. - They paid out a 7c dividend, ($58m) which is less than 1 months profit at current prices, when you'd be expecting it to be about 30c, (around 80% of 6 months). - They recently raised 200million.
They've stated they are looking. Have been linked to mt arthur, but in a recent interview said they wouldn't buy it unless its for the right price. And have mentioned that they've been looking at copper assets.
I suspect, NHC are simply 'negotiating' via the press to put pressure on BHP, while waiting for BHP to receive mine-extension approvals, as they've previously stated they only want something with a long mining life. (From memory, Mt Arthur runs out in 2027? - while an extension takes it out to 2040+). Else they really are looking at other resources.
I also feel that BHP are stalling while the coal spot price is so high. Might as well have one final bite of the cherry.
NHC Price at posting:
$2.59 Sentiment: Buy Disclosure: Held
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