Quarterlies are kicking up in the mining sector this week and next with Whitehaven Coal (WHC) on Thursday plus Alumina (AWC) (via Alcoa) and Rio Tinto (RIO) on Friday. We’ll get another update from WHC on Friday with a meeting with management plus we also have a briefing with Newcrest (NCM) & Sandfire (SFR) post recent equity raise. While we don’t own SFR, we do like Copper and SFR is a value trade in the space. WHC rallied +6% today after a soft end to last week. Worth reiterating our positive stance here and while it’s likely to remain volatile, we still expect the stock to trade above $4 (soonish) with more if Coal prices stay as elevated as they are.
MM is long & bullish WHC
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