They tend to track each other (based on comparison trends), however WHC is higher geared (or costs are more marginal) and so is more volatile in both directions. I prefer NHC as has low cost long life assets so (in theory) is less stressful when trying to catch the bottom. In practice has been a long slog, but divvies have been useful.
NHC SP is probably being held back vs WHC because fundies are waiting to see what the recent convertible notes $$ is going to be used for and at what price. Both are underperforming coal price because fundies: - believe coal is being phased out (wrong), - believe shareholders prefer ESG to making money (wrong), - think the coal price ramp is temporary (possible).
In the (unlikely) event the New Acland extension gets approval in the next year or so, then we'll jump ~ $1 on the spot.
Maybe just buy a bit of both.
AIMHO
NHC Price at posting:
$1.89 Sentiment: Buy Disclosure: Held
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