Archive: Coal
General Musings
Not much has changed in coal space, I still like the long-term set up and valuations.
Whitehaven
WHC has closed out its Blackwater and Daunia transaction. All eyes now are on how these mines perform in the first quarter of WHC ownership and what consideration WHC gets for any potential sell down at Blackwater.
Stanmore
Stanmore continue to go about their business. They are the quiet achievers in my book. They closed out some recent transactions with regards to Wards Well South and Eagle Downs which both look accretive. They’re now paying a good dividend and their cornerstone mine South Walker Creek looks to be setting itself up for a big 2025 as it spends some capital to expand the wash plant and open up new resources that are closer to the wash plant, lower strip ratio and higher yielding coals.
MongCoal
Both Mongolian Mining Corp and South Gobi performed extremely well over late 2023, early 2024. They have recently pulled back but both have performed well operationally (South Gobi has a tax dispute hanging over it). Big question now will be what they do with all the cash after deleveraging.