Running some numbers here for discussion:At start of buy back...

Running some numbers here for discussion:

At start of buy back last year WHC had 929,698,559 on issue. 240,000,000 million shares are to be bought back before 26/10/23.

By the end of Oct this year when buyback will be complete there will be 689,698,559 million shares on issue. By end of Jun this year we will have estimated $3 billion in the bank. Lets say whatever profit they make in the second and third quarters are used to fully fund the rest of the buyback in the second half of this year.

So if WHC do not buy the BHP coal asset what will it do with the cash? Cash per share at end of Oct this year will be $3,000,000,000 / 689,698,559 shares = $4.35 per share sitting in the bank for shareholders. That's right $4.35 per share in pure cash it can give to shareholders..The current share price of $5.89 looks ridiculously cheap if WHC do not buy the mine....a P/E of 0.73 p/share....CRAZY cheap!

Could we be in for a MASSIVE $2 + dividends in each half of FY 24 if management do not purchase anything? What else are they going to do with cash? ok so maybe they keep a billion on the sidelines in case things get really tough in next 12-24 months but they are still sitting on a MASSIVE war chest when you run the numbers!