{"id":52723,"date":"2014-06-13T02:41:42","date_gmt":"2014-06-13T06:41:42","guid":{"rendered":"http:\/\/countingpips.com\/?p=52723"},"modified":"2014-06-13T02:41:42","modified_gmt":"2014-06-13T06:41:42","slug":"why-the-whitehaven-coal-share-price-rose-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/why-the-whitehaven-coal-share-price-rose-today\/","title":{"rendered":"Why the Whitehaven Coal Share Price Rose Today"},"content":{"rendered":"
June 13, 2014<\/div>
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By MoneyMorning.com.au<\/u><\/a><\/p>\n

What Happened to the Whitehaven Coal Share Price?<\/h2>\n

Shares in coal producer Whitehaven Coal Ltd [ASX:WHC]<\/strong> rallied by nearly 4% today, defying a broader market that fretted over geopolitical tensions. Despite the positive move, Whitehaven shares are still languishing at levels lower than any point seen since the depths of the financial crisis in 2008.<\/p>\n

Why Did This Happen to the Whitehaven Coal Share Price?<\/h2>\n

Yesterday, Whitehaven announced that it would halt forest clearing at its Maules Creek mine in New South Wales. <\/p>\n

As part of its development at Maules Creek, Whitehaven had planned to raze about 1,660 hectares of native woodland. But those plans are now on ice for the time being.<\/p>\n

Community groups are hailing this as a victory for protest over profits, but in reality, voluntarily suspending clearance activity at this point will not affect Whitehaven\u2019s progress overall. The company is still on track to produce its first coal at Maules Creek in March 2015.<\/p>\n

A strong statement from the CEO clarifying Whitehaven\u2019s progress has given the company\u2019s share price a solid boost today.<\/p>

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What Now For Whitehaven Coal<\/h2>\n

Whitehaven has received approval to produce 13 million tonnes of coal per annum at Maules Creek. If the company wins its battle with the local activists, and if the current low coal prices are merely cyclical rather than structural, then there looks to be a lot of upside in the stock from current levels. <\/p>\n

But, as with any Australian resource producer at the moment, Whitehaven should be viewed as a risky prospect.<\/p>\n

Tim Dohrmann+<\/a>
\nSmall-Cap Analyst, Australian Small-Cap Investigator<\/em><\/strong><\/p>\n

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\nBy MoneyMorning.com.au<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By MoneyMorning.com.au What Happened to the Whitehaven Coal Share Price? Shares in coal producer Whitehaven Coal Ltd [ASX:WHC] rallied by nearly 4% today, defying a broader market that fretted over geopolitical tensions. Despite the positive move, Whitehaven shares are still languishing at levels lower than any point seen since the depths of the financial crisis […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-52723","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=52723"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52723\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=52723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=52723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=52723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}