WHC -0.9%: The coal miner has today confirmed what has been suspected since suspending the share buy-back at their recent results, that they are in the running to acquire BHP’s major Daunia and Blackwater coal mines in Queensland. WHC said it was “participating in the sale process” for the two coking coal mines, and “The board will make a decision regarding resumption of the share buy-back at the appropriate time,”. The mines are worth an estimated ~$5bn so it’s a big deal, although we’d suspect it would be a partnership approach to any transaction.
MM remains bullish & long WHC
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