OREMAVEN
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2026-11-06
◂ Monitor WHC ASX

WHITEHAVEN COAL LIMITED

Producer · Others · Australia Rating locked: sign in to view v8 · whc-20261024t182122-full
Last 2026-11-06
A$7.04
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$5.8B
EV
A$7.1B
Cash
A$778M
Debt
A$2.1B
11 newer ASX announcements not yet reflected in this valuation

Portfolio detail

Assets

11 assets

Core asset

Blackwater

Australia

Producer70% ownedOthers

Operating mine

Producer · Producer
Production annualised (attributable)
8.4m td
Production (last FY, 100%)
11.2m t
AISC (latest quarter)
—
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
25.7 yrsd
Head grade
NM
Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains1.9B t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30
Ore ReserveProved + Probable marketable coal287M t saleable coal, 100% basisMarketable reserve embeds disclosed geological-model yield; no metallic gradeOthers2026-04-30

Core asset

Daunia

Australia

Producer100% ownedOthers

Operating mine

Producer · Producer
Production annualised (attributable)
5.2m td
Production (last FY, 100%)
4.7m t
AISC (latest quarter)
—
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
11.3 yrsd
Head grade
NM
Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains97M t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30
Ore ReserveProved + Probable marketable coal53M t saleable coal, 100% basisMarketable reserve embeds disclosed geological-model yield; no metallic gradeOthers2026-04-30

Core asset

Maules Creek

Australia

Producer75% ownedOthers

Operating mine

Producer · Producer
Production annualised (attributable)
8.0m td
Production (last FY, 100%)
9.3m t
AISC (latest quarter)
—
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
32.8 yrsd
Head grade
NM
Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains530M t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30
Ore ReserveProved + Probable marketable coal304M t saleable coal, 100% basisMarketable reserve embeds disclosed geological-model yield; no metallic gradeOthers2026-04-30

Core asset

Narrabri

Australia

Producer77.5% ownedOthers

Operating mine

Producer · Producer
Production annualised (attributable)
1.5m td
Production (last FY, 100%)
4.5m t
AISC (latest quarter)
—
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
29.2 yrsd
Head grade
NM
Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains536M t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30
Ore ReserveProved + Probable marketable coal132M t saleable coal, 100% basisMarketable reserve embeds disclosed geological-model yield; no metallic gradeOthers2026-04-30

Material

Vickery early mining

Australia

Ramping Producer100% ownedOthers

Operating mine

Producer · Ramping producer
Production annualised (attributable)
—
Production (last FY, 100%)
—
AISC (latest quarter)
—
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
—
Head grade
NM
Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains733M t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30
Ore ReserveProved + Probable marketable coal122M t saleable coal, 100% basisMarketable reserve embeds disclosed geological-model yield; no metallic gradeOthers2026-04-30

Material

Tarrawonga

Australia

Producer100% ownedOthers

Operating mine

Producer · Producer
Production annualised (attributable)
—
Production (last FY, 100%)
—
AISC (latest quarter)
—
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
—
Head grade
NM
Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains94M t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30
Ore ReserveProved + Probable marketable coal15M t saleable coal, 100% basisMarketable reserve embeds disclosed geological-model yield; no metallic gradeOthers2026-04-30

Material

Winchester South

Australia

PFS Developer100% ownedOthers

Development approval and investment gates outstanding

Developer · PFS developer
Study
—
Post-tax NPV (study prices, attributable)
—
NPV restated at our deck (attributable)
Locked
IRR
—
Initial capex (100%)
—
Capital intensity
—
LoM AISC
—
Mine life
—
Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains1.1B t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-05-31
Ore ReserveProved + Probable marketable coal240M t saleable coal, 100% basisMarketable reserve embeds disclosed geological-model yield; no metallic gradeOthers2026-07-31

Other

Ferndale

Australia

Resource Stage92.5% ownedOthers

Residual resource option with no forecast operating cash flow

Resource / scoping · Resource stage
Contained metal (attributable)
NM
Resource grade
NM
% Measured + Indicated
—
Resource tonnes
445.00 Mtd
Our value per attrib. contained unit
Locked
Mining method
—
Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains445M t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30

Other

Pearl Creek / Dingo

Australia

Resource Stage70% ownedOthers

Residual resource option with no forecast operating cash flow

Resource / scoping · Resource stage
Contained metal (attributable)
NM
Resource grade
NM
% Measured + Indicated
—
Resource tonnes
35.00 Mt
Our value per attrib. contained unit
Locked
Mining method
—
Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains35M t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30

Other

Rocglen residual resources

Australia

Resource Stage100% ownedOthers

Residual resource option with no forecast operating cash flow

Resource / scoping · Resource stage
Contained metal (attributable)
NM
Resource grade
NM
% Measured + Indicated
—
Resource tonnes
10.00 Mtd
Our value per attrib. contained unit
Locked
Mining method
—
Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains10M t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30

Other

Gunnedah residual resources

Australia

Resource Stage100% ownedOthers

Residual resource option with no forecast operating cash flow

Resource / scoping · Resource stage
Contained metal (attributable)
NM
Resource grade
NM
% Measured + Indicated
—
Resource tonnes
307.00 Mtd
Our value per attrib. contained unit
Locked
Mining method
—
Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured + Indicated + Inferred, combined domains307M t coal, 100% basisCoal quality not expressed as a metallic grade; no contained-metal conversionOthers2026-04-30

d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)

Stock database

Other assets

Plants, holdings and assets valued inside a project
Gunnedah Open Cuts combined production disclosure · Producer · Producer
Production annualised (attributable)
2.5m td
Production (last FY, 100%)
2.9m t
AISC (latest quarter)
—
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
—
Head grade
—
Gunnedah coal handling and preparation plant · Processing plant / refinery · Operating
Product and spec
—
Nameplate capacity
—
Throughput (12M)
—
Utilisation
—
Capital intensity (capex / tpa)
—
Feed source
—
Offtake contracted
—
Financial investment portfolio · Other · Held
Ownership
100%d
Description
Quoted and unquoted equity investments; rare-earth diversification discussed on FY26 call. Individual investee interests are not fully identified in retained primary filings.
Book value
A$218.0m
Boggabri-Maules Creek rail spur joint operation · Other · Held
Ownership
39%
Description
Rail infrastructure joint operation serving Maules Creek; value included in mine economics.
Book value
—