Its kind of crazy to consider that WHC current market cap minus some cash is about what they paid for Blackwater and Duania.
At this point you get the best Thermal assets in the world for free.
Sure there will be times in the cycle where thermal spits off more than cash and vise versa, but hard to see how you lose long term if they start ramping up the divvy again.
Pretty good risk return in WHC right now.
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