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Whitehaven plunges on latest guidance downgrade

Shares in Whitehaven Coal were dumped this week after the miner revised down its run-of-mine production, managed coal sales, and unit cost guidance for FY21 because of geological challenges at its Narrabri underground mine in New South Wales and associated maintenance downtime and loss of production.

Lou Caruana
Whitehaven Coal's Maules Creek mine in New South Wales, Australia

Whitehaven Coal's Maules Creek mine in New South Wales, Australia

Late last month, the company narrowed FY21 managed ROM coal production guidance to 21.4-22Mt from 21-22.5Mt and trimmed managed coal sales guidance to 18.5-19Mt from 19-20Mt, after heavy rain and flooding...

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