Whitehaven Coal has downgraded its coal sales guidance by almost four per cent on the back of geology problems at the Narrabri mine which also prevented the company from enjoying the benefits of this year’s coal price rally.
The downgrade has sparked a 14 per cent sell down in Whitehaven shares in early trading.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com