I haven't read all the fine print... but... from the presentations, the assumption as you post is that all cash flow from the new mines is going to pay down debt and cash flow from existing thermal mines goes to divvies/whatever....
The implication here is that the $900m bridge finance would kill divvies while it's actively being drawn. That snip you post doesn't mention the bridging finance which is separate to the vendor finance.
WHC Dividend Continuation Question, page-3
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