COAL OUTLOOK While underlying demand has been strong, the recent...

COAL OUTLOOK
While underlying demand has been strong, the recent higher pricing has been accelerated by the implementation
of the Chinese Government policy supply side reform targeting the closure of some high cost, inefficient and
environmentally lower quality production capacity from Chinese supply. In addition, supply cuts by both swing
seaborne metallurgical and thermal coal producers, weather related production issues in a number of countries and
infrastructure constraints in Australia and Columbia have placed further pressure on coal supply.
Whitehaven expects pricing for metallurgical coal products in the December quarter to be significantly higher than
September quarter. December quarter settlements for the three main metallurgical coal types have completed. Low
volatile PCI coal settled at US$133/t, an increase of US$58/t or 77% and hard coking coal settled at US$200/t, up
116% on the prior quarter and semi soft coking coal settled at US$130/t up about 86%.

Will collect todays dividend and watch the trend continue here folks, Coal is back in vogue