WHC +6.16%: the largest coal stock on the ASX traded to new YTD highs today following a solid 2Q production update. Despite battling continued wet weather, the company managed Run of Mine production of 4.84mt, up 21% qoq to see EBIT at $2.6b in the first half. Prices came off, but they are still earning a strong margin at the average price for the quarter of $527/t. They maintained cost and production guidance for the year and noted they have seen strong demand come through for shipments in the back end of this half which should see prices remain robust.
MM is long and bullish WHC
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