Whitehaven Coal’s financial results and acquisition update
Whitehaven Coal (ASX:WHC) was somewhat reserved regarding the movement in major financial metrics in its December half-year results press release, issued Thursday morning.
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We are the dominant player in Australia’s only emerging high-quality coal basin. We help power developed and emerging economies in Asia where there is strong and growing demand for our product, particularly for use in high-efficiency, low-emissions coal-fired power stations.
We are also driving prosperity and economic growth in regional Australia, and North West NSW in particular, which is the focus of our capital investment and workforce presence.
We operate four mines (three open cut and one large underground mine) in the Gunnedah Coal Basin of NSW. Our operating assets are complemented by two high quality, near-term development assets, being Vickery, near Gunnedah, and Winchester South, in Queensland’s Bowen Basin. Over our almost 20 year history, including 12 years as a publicly listed entity on the Australian Securities Exchange, we have developed a growing reputation for excellence in project delivery and safe, efficient and environmentally responsible operations.
We are proudly local, and around 75% of our 2,4000-strong workforce lives in the local communities around our mine sites. We believe in helping communities grow, ensuring benefits flowing from our operations are seen and felt locally.
A snapshot of the stocks on the move, featuring Whitehaven Coal (ASX:WHC), Paradigm Biopharmaceuticals (ASX:PAR), Noxopharm (ASX:NOX) and Liontown Resources (ASX:LTR).
WATCH VIDEOWhitehaven Coal (ASX:WHC) was somewhat reserved regarding the movement in major financial metrics in its December half-year results press release, issued Thursday morning.
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The impact of the slump in global thermal coal prices has become evident in the latest quarterly reports from major coal miners and exporters, Whitehaven and Yancoal Australia.
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Whitehaven Coal (ASX:WHC) is holding its annual meeting in Sydney today, with the focus on its multi-billion-dollar deal to purchase two aging Queensland coking coal mines from BHP and Mitsubishi. Shareholders are expected to question the board about the $US4.1 billion deal, which has faced opposition from London-based activist shareholder Bell Rock Capital.
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Whitehaven Coal (ASX:WHC) plans to acquire two Queensland coking coal mines from BHP and Mitsubishi, opting for a traditional layaway plan over modern equity/debt packages preferred by banks and corporate advisers.
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A snapshot of the stocks on the move, featuring Whitehaven Coal (ASX:WHC), Paradigm Biopharmaceuticals (ASX:PAR), Noxopharm (ASX:NOX) and Liontown Resources (ASX:LTR).
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Target price rises to $5.60 from $4.70. Outperform rating retained.
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The analyst's target price of $3.65 (down from $3.92) includes a premium to allow for upside risk for coal prices. Add rating maintained.
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Citi upgrades Whitehaven Coal to Buy from Neutral after the recent strong retreat in the share price. Target price eases to $3.20 from $3.50.
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Morgans lifts its target price to $2.65 from $2.30 on higher than expected thermal coal prices.
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