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Highlights:
- Whitehaven’s shares were trading 1.709% stronger on ASX as of 12:21 PM AEDT today.
Shares of Whitehaven Coal Limited (ASX:WHC) were trading in the green territory on ASX on Monday afternoon (21 November 2022). The company’s share price gained by 1.709% on ASX to AU$8.330 per share at 12:21 PM AEDT today.
Meanwhile, the share price of Whitehaven has gone up over 247% on ASX in the last one year. On a YTD basis, Whitehaven’s share price increased by 202.17% on ASX (as of 12:21 PM AEDT today).
Whitehaven’s FY23 guidance
In an update on 9 November 2022, Whitehaven mentioned that its production at the cut mine operations had been hampered due to the impacts of the continuing La Nina phenomenon. As a result, the company came up with an updated FY23 guidance.
As already stated before, the ROM production is expected to remain low across all three open-cut mines due to the impacts of rain and floods in September. Furthermore, Whitehaven also mentioned that access roads and haulage roads continue to face the impacts of the flood.
The wet weather and impacts of rain persisted into November with soil moisture profiles, dams, and river systems at capacity in the Gunnedah Basin, said Whitehaven.
As per the company, mine sequencing plans offer opportunities to lift volumes throughout the year. However, the recent rain and floods have brought down ROM production, mainly at Maules Creek and Tarrawonga open-cut mines.
Therefore, Whitehaven has moderated its FY23 ROM coal production from its open-cut mines because of current and possible projected weather impacts and ongoing labour shortage.
