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Australian Investment Blog

ASX:WHC 26/08/2021

Whitehaven Coal (WHC) shares rally, saved by coal price

FY21 Results: It wasn’t a strong year from WHC both operationally and financially however strength in the coal price has buried those sins plus the outlook for FY22 is substantially better. The main takeaway from todays conference call with management is the company is printing lots of cash, energy coal has now more than tripled from 2Q20 low and met coal now more than doubled. The CFO said…“Expect that at current prices we will be debt free in 2H FY22!”.How things can change … at this time last year there were calls for an equity raise. Once debt paid off, this opens the door for buy backs, dividends etc. Shares were trading 5% higher nearing the close.

MM remains very bullish WHC
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Whitehaven Coal (WHC)
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