The 2QFY25 result was solid with strong production and sales offsetting weaker realised pricing. WHC is on track for the top end of production guidance and costs are tracking towards the lower end of the range. Cash flow from both the coking and thermal coal assets, and the sell down of 30% of Blackwater, should see WHC return to a net cash position within 18 months. We are bullish on the medium-term price outlook for coking coal and note that WHC has significant leverage to coal prices
To access the full report please log in under the Research Portal at the bottom of this page.
Argonaut’s Research Portal allows you to access Argonaut’s wealth of Research, as well as view descriptions of the Morning Note, Companies covered and the Team.
If you would like to access our research please contact us to create an account.