WHC 3.17% $7.03 whitehaven coal limited

Target $9.36, page-942

  1. 29 Posts.
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    The 5Mtpa is Managed ROM not equity sales tonnes - you need to pick up both the financial equity in each mine and the mine Yield i.e. multiply the Mines ROM by the mine's yield and by the working interest in the mine to give equity sales coal or as an approximation else take ~82% of your ROM for saleable and 80% for the financial interest
    There is an 8% NSW royalty that comes off the revenue so your $460 x(1-0.08) = $420

    So your 5mt = 3.28mt equity sales x ($420 -90) if it was a usual quarter.
    But March qtr YTD Managed sales = 12.2Mt Managed Sales Guidance = 17.2 min = 5Mt Managed sales for the quarter x financial interest 80%
    So quarterly EBITDA by your numbers = $1.3Bn x 4 = A$5.3Bn Annualised +Net cash and you have an EV to cf. Market capitalisation today of $4.5Bn
 
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