Originally posted by tvrtvr:
↑
........Not sure well see $3-4 for WHC. The lowest I see it going right now is $5.80 and it'd be there on thin volume for a short time... but I've been wrong before... so I'm slowly averaging in over the next few years while the BMA deleveraging takes place. The price here will bounce around chaotically to the short term noise, while long term it gets ready to rerate. My biggest concern with WHC is the overall met quality blend and demand for certain qualities moving forward..... Whitehaven Coal Closing Blackwater Acquisition April 2, Debt Free June!! Whitehaven Coal is scheduled to close its Daunia/Blackwater acquisition April 2nd. Payment due is US$2.3 billion ($2.1 bn acquisition cost + $300 mn Stamp Duty and transaction costs, less $100mn deposit and some transaction costs paid in Q4). At the end of Q4 2023 they had A$1.5bn in cash (approx US$1 billion), leaving around US$1.3 billion to be funded from the acquisition financing and other sources. WHC will probably add US$150-200 mn to the cash holding in Q1 2024, leaving only US$1.1 billion to be funded.
Expand
Nice write up..
I don't think Paul will do a second sell down. Makes no sense to me. They'll lose some marketing control... although... I don't have all the data.
.
Right now I'm more worried about the LV/SSCC pricing moving forward. Looking at SMR price action and how GEAR sold out to buy PLV from S32. Also looking at how Pembroke showed their hand & wants out of Olive Down after they've only just broken dirt on a 30 year mine...
.
Tourists.
(20min delay)