Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James Wyloo is on the market to takeover MCR at $1.40 per share. Should I sell before the cut off date otherwise I could be locked in as a minority shareholder. The other question is whether WHC is a buy now as it has dropped by nearly 30% from its late January high. I presume the demand for coal is still there except for the milder northern hemisphere winter. Thanks Boon
Hi Boon, a reminder that we do not take onto consideration any investors personal circumstances in these answers, it is general advice only.
Mincor Resources (MCR) $1.40 – We do not hold MCR but if we did, we would be exploring alternatives elsewhere for our funds as the $1.40 bid looks to be as good as it gets.
Whitehaven Coal (WHC) $6.97 – We like like WHC here and we remain long in our Flagship Growth Portfolio and although we are currently down ~9% on our position we would be averaging if our 4% exposure didn’t feel appropriate for such a high Beta (volatile) stock. Medium term we believe the demand for coal will remain strong even with a world committed to the transition to greener energy sources i.e. a journey we feel will remain a tough and expensive over the foreseeable future.
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