Past year: ▲ 6%(6.93 – 9.25 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Aug 2009farm in farm out agreement▲ GoodMajor
Whitehaven signs heads of agreement to sell 7.5% of Narrabri to Korea's Daewoo and Kores for A$125m plus 7.5% of costs since 2008 (over A$11m). Daewoo gets up to 1.5Mtpa of coal. Subject to board and regulatory approvals; completes the sale flagged on 30 July.
10 Mar 2009resource reserve update▲ GoodMajor
Marketable reserves rise 61% from 137.9Mt to 221.4Mt, mainly from a first 69.2Mt at Narrabri South and Tarrawonga lifted to 22.0Mt. Measured and indicated resources rise to 476.3Mt. This updates the earlier reserve figures, including the 140.1Mt discrepancy.
23 Dec 2008farm in farm out completion▲ GoodMajor
Sale of 7.5% of Narrabri to J-Power for A$125m completes. A$41.7m is received now, with the balance due on Stage 2 approval. Total sold is 22.5%, which the company says funds the bulk of its share of Stage 1 and 2 costs.
1 Aug 2008farm in farm out agreement▲ GoodMajor
Agrees to sell a further 15% of Narrabri: 7.5% each to J-Power (A$125m) and EDF Trading (US$120m, paid over four years). Each takes 1.5Mtpa off-take, and each funds development costs from 1 January 2008. Subject to FIRB approval; completion expected August 2008. Inference: this takes WHC to 75%.
28 Mar 2008farm in farm out completion▲ GoodMajor
Sale of a 7.5% stake in the Narrabri project to China's Yudean completes, with $67.5m paid. Yudean funds its share of future development costs and takes off-take of 0.5Mtpa rising to 1.5Mtpa. This resolves the pending Chinese approval; first coal is stated as first half of CY2009.
28 Feb 2008farm in farm out agreement▲ GoodMajor
Guangdong Yudean's subsidiary agrees to pay $67.5m for a 7.5% stake in the wholly owned Narrabri project and to fund its share of future development costs. Includes a coal off-take of 0.5Mtpa rising to 1.5Mtpa. Only Chinese government approval is outstanding.
