Whitehaven Coal Analysis

 Whitehaven Fossil fuel Analysis Essay

Organization Valuation Group Project Statement

Monash College or university, Caulfield Campus

AFF5130: Monetary Statement Examination and Business Valuation, Term


 Introduction

 Section A: Capital Market Analysis

to Share Possession

o Talk about Trading

um Bid/ask Distributed, 52 Weeks Hi/Low

um News and disclosure analysis

o Overall liquidity and information environment

 Section B: Organization Analysis

o Macroeconomic Analysis

o Market Analysis – Porter's five forces

o Business Strategy Analysis

 Section C: Management top quality and corporate governance analysis um Management top quality

o Corporate Governance Examination

 Section D: Accrual Quality

to Discretionary accrual quality

u Earnings perseverance


Whitehaven Coal Limited® (WHC: AX) operates predominantly out of the Gunnedah basin in Eastern Central NSW – the pot being one of the largest underground fossil fuel seems in NSW. WHC began as very much an area operation in 1999 but by simply its initial listing for the ASX in 2007 got grown to be an important player in the Australian exploration scene and by 2009 had become one of the biggest and fastest developing coal miners in Australia with 5 huge open slice mines inside the Gunnedah area of NSW – easily close to Australia's largest coal port, Newcastle. This is component 1 of your report that will assess the valuation of the business from the watch of a potential takeover. This is particularly relevant right now with the traditionally low PRICE TO EARNINGS ratios inside the mining market at the moment which means a potential bargain depending on each of our results in component 2 with the report. One other view in the current express of the company and indeed the industry could possibly be that the current drop widely used growth intended for coal and drop in commodity prices across the board may well justify the present low discuss price.

The corporation is relatively fresh having been on the ASX in 2007. Beneath is reveal price relative to the overall market from 2007-2013, showing big growth in share original which has licentious from 2011 onwards.

Number 1: WHC 10 year total return compared to Market

sumado a

A reduction is prediction for the corporation in 2013 before a forecast transformation in 2014 as observed in the EPS chart listed below.

Figure 2: WHC Reveal Price and EPS as 2007

Section A: Capital Market Examination

Share Ownership – Significant Shareholders

Number 3: WHC Major Shareholders









Deutsche Traditional bank AG


51, 442, 759

five. 02

Hans Mende


70, 019, 833

6th. 91

Aston Resources Investments

Pty Ltd

31/08/2012 216, 589, 946

21. 35

FRC Whitehaven Holdings BV


seventy two, 650, 500

7. 17

Kundrun, Fritz


69, 433, 458

6. 85

Farallon Capital Management

LLC and acquaintances


58, 153, 033

5. seventy four

475, 424, 049

46. 93


Other Shareholders

Figure some: WHC Control Structure

WHC Ownership Framework (%) ast 26/4/2013

Krauts (umgangssprachlich) Bank AG

Hans Mende

Aston Resources Investments Pty Ltd

FRC Whitehaven Coalition BV

Kundrun, Fritz

Farallon Capital Supervision LLC and associates

Various other shareholders

Top quality of Main Shareholders

The Tinkler group (Aston Resources) and most of some other major investors are mainly ex - backers and directors. Aston Resources has 21. 4%. Nathan Tinkler is the the greater part shareholder of Aston Methods and his total holdings in Whitehaven is usually 19. 4%. However Tinkler reportedly is in debt for around $600m to Farallon Capital (already holding your five. 74%) which will roughly suits his value holding in WHC. As a result Farallon are reportedly treating their debts asset since an value holding in WHC. Mining and investment billionaire and former starting director Hans Mende is still a substantial aktionar, as is WHC backer Fritz Kundrun. Given WHC's low cost and high growth prospects it is no wonder Deutsche Bank and other common and hedge funds will be using WHC since an attractive expenditure as most are looking for growth shares. The shared and hedge...


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