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Whitehaven Coal (ASX:WHC) closes tumultuous year with stronger coal outlook
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Whitehaven Coal (WHC) is looking to close the year in line with downgraded guidances, as soaring coal prices and Maules Creek prove its saving grace
The company mined 20.6 million tonnes (Mt) of coal of FY21, boosted by record output at its Maules Creek mine
The coal outlook remains strong according to WHC, with thermal coal prices reaching 10-year highs
Production at the company s Narrabi mine 86 per cent below the prior corresponding June period and 34 per cent below FY20
Whitehaven Coal shares were up 3.79 per cent to trade at $2.06 at 2:26 pm AEST
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By Alex Druce
The Australian sharemarket has trimmed its losses after the release of better-than-expected jobs figures, but the index is still lagging at lunchtime.
The ASX 200 was last 0.3 per cent lower at 7364.0 - having dropped 0.6 per cent this morning to 7341.9 - with the iron ore and gold miners, energy stocks, CSL, and Coles weighing heavily.
The major banks help limit losses. Commonwealth Bank set new highs of $106.57 and was last 1.3 per cent ahead at $106.20. ANZ was up 2.1 per cent, NAB gained 0.9 per cent, and Westpac rose 1.9 per cent.
Whitehaven Coal was 12.5 per cent lower at $1.785 on a production guidance cut. On the All Ords, Seven West Media climbed 15 per cent to 46 cents on a brighter full-year outlook.
Whitehaven (ASX:WHC) share price slides 10% on guidance downgrade fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.