Beautifully captured. I still don't think is well understood.
People by and large get the remarkable cashflow generation generated by thermal coal.
But the fact WHC managed to trade into high-quality met coal assets with windfall profits at a great price plus vendor finance and with downside contingency payment protection is one of the great strategic executions the Australian market has seen.
WHC Price at posting:
$7.49 Sentiment: Hold Disclosure: Held
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