Target $4.61, page-4191

I traded WHC extensively during 2018/19 when the SP moved between low $4's to high $5's. On 15/02/2019 when the SP was $4.47 they paid a 20cent 0% franked dividend which i participated in & thought it was a pretty good result. Total dividends for the full f.y. were 47 cents 0% franked.
By 15/08/2019 when they paid a 30 cent 22% franked dividend the coal price was down to $65 USD pmt & the SP had fallen to $3.20 & kept going all the way down to 85 cents.
During all of 2018/19 when the profit to facilitate those dividends was earned the coal price never exceeded $121USD pmt & the average was nearer $100 USD pmt.
For the past five months the coal price has exceeded that $121 USD pmt, (very substantially last month) & futures suggest it will stay around that price for the foreseeable future.
My point is that history would suggest that WHC are now making "very serious" profits & an annual dividend of 52 cents is quite within the realms of probability & if that happens the SP will not be $2.45 or even $3.00 for to much longer once investors wake up.
p.s. It should be remembered that it is only since f.y. 2019/20 that WHC increased it's holding in Narrabri Mine to 77.5% & in six weeks acquires the 1% Narrabri Private Royalty (refer the WHC announcement of 14/10/2021).