1 - "Managed" is not a figure worth looking at. Equity coal sales are the key to calculating profit. With different stakes in different mines, I expect that not all stockpiles left over from "managed" sales are attributable to WHC. Then you also have purchased coal sales which adds further confusion.
2 - From my observation, no, there does not seem to be a sizeable income/cost reflected on the financial statements for this.
3 - Yes, new shares, as with the majority of ASX listed companies. Known as performance rights or STI, LTI payments.
4 - Through blending they can turn met coal into thermal. This has already happened in existing mines to increase % of thermal sales on overall sales to capture the premium price that thermal is receiving in the current market.
5 - I doubt anyone knows this, even management. It is just safer to assume that cost of each project will easily cost 50% above what is listed. From my construction experience, this is generally the case because plans and designs are adaptive and usually change as the job progress'. you can also add extra time from their predicted completion date, all their figures are generally wildly optimistic. They have started paying for accommodation to be built at one of the projects already. It will be a gradual cost that will surely be worth it. Contractors will require payment as key milestones on the project are completed.
6 - Me too!
WHC Price at posting:
$8.76 Sentiment: Buy Disclosure: Held
(20min delay)