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Re: COK - Cockatoo Coal

Today's announcement is it good or bad, I am not very good at interpretating coal drilling results. Any other good news on COK??
 
Re: COK - Cockatoo Coal

I've bought cockatoo Coal whilst not being happy about the production costs. Is it cheap or not? I've opted for the cheaper side but not over confident, we shall see.
 
Re: COK - Cockatoo Coal

noirua said:
I've bought cockatoo Coal whilst not being happy about the production costs. Is it cheap or not? I've opted for the cheaper side but not over confident, we shall see.
Click to expand...

More confidence with a lower Aussie, if it holds, as this helps profitability at Cockatoo. Probably fairly priced with the rest of the sector but increasingly solid all the same.
High mining costs are now down below $100 per tonne and the previous half year was somewhat ruined by heavy persistent rain. With MCC the last of the PCI coal miners quoted.
 
Re: COK - Cockatoo Coal

wow
last week was amazing for COK and this week is imo looking to be the same
whent from 0.405 last week to 0.485 today :D
and with decreasing volumes...
does anyone have any news on this? i would really like to know :D
thanks
 
Re: COK - Cockatoo Coal

Please see the announcement on 7/7/2010 from COK
COK has purchase agreement with Anglo America's 5 Australian mines with KEPCO & POSCO.
 
Re: COK - Cockatoo Coal

Hmmmmmmmmmm yes for all the happy talk but Cockatoo they are advancing quickly and increasing risk.
Just entered into a Possible agreement with Mitsui to purchase 51% interest in their Surat Basin assets - more info needed from COK on this.

Basically though folks, the company in the year to 30/6/10 shipped out 236 thousand tonnes of PCI coal and 377 thousand tonnes of thermal from the high cost Buralaba mine. Not that much really, though coal profits were booked for the year but not that much- $8.2m. If thermal coal prices fall or the Aussie$ goes to par with the greenback profitability here is not good.

In the first Qtr 2011 tax year COK shipments to 30/9/2010 need to be closely looked at.

291 holes drilled at Woori Project and 494 holes at Surat. Shows the company is going for it. Could clean up if coal prices stay high otherwise they're in the stew.
 
Re: COK - Cockatoo Coal

The recent flooding must be causing them difficulties.

Not much from them since last weeks annoucement about having to initiate a detailed pit dewatering program.
 
Cockatoo Coal COK

Hello Investors does anyone have any news or ideas on Cockatoo coal. It is an Australian coal miner with mines in QLD and NSW. It has been making new discoveries and has significantly increased its holdings and reserves. With cockeing coal predicted to rise significantly this year I thought this might look ok. Currently the mines in Qld are flooded and the SP is down, Im wondering for how long? Any tell what you think of this one. bye for now
 
Re: COK - Cockatoo Coal

UMike said:
The recent flooding must be causing them difficulties.

Not much from them since last weeks annoucement about having to initiate a detailed pit dewatering program.
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I just saw this thread and Ive been watching COK for the past week and it is now down with a lot of other miners who have been flooded. I think it might be worth a closer inspection. Ive been reading that spot coal prices are set to jump because of lack of supply mainly due to the flooding. What do other people think of this opportunity??
bye
 
Re: Cockatoo Coal COK

Hi Raymond

thanks for your effort.
Please note there is an existing thread on COK and suggest you please visit that thread and share your comments.

Regards
 
Re: COK - Cockatoo Coal

Seems that COK has just been incinvienienced.
below taken from thier Ann - 10-01-2011

"The following update is provided:
• No Company or contract personnel associated with the mine have been injured as a result of
the flooding.
• All Baralaba mine’s key capital assets, including offices, workshop and coal processing
equipment at Baralaba mine remain undamaged and on high ground.
• Advising a timetable for recommencement of Baralaba main pit production is currently
premature, given the extent of current flooding and uncertainty regarding future weather
patterns. At a minimum however, a production delay of some weeks and potentially longer
should be anticipated.
• The Company has sufficient cash reserves to meet the relatively low fixed costs of this small
(50,000 tonne/month) mining operation during any reasonably foreseeable restoration period.
Typically less than 20% of the mine’s quarterly operating costs are from fixed costs.
• Peak flood levels in the region have passed, and access to the mine by Cockatoo staff is
occurring today to conduct a safety audit, and preliminary assessment.
• Cockatoo has activated its water management plan, and dewatering processes will begin
once approvals are in place. Mining engineers, hydrologists and environmental scientists will
work in conjunction with the relevant Queensland Government departments to ensure all
dewatering is conducted in a safe, efficient and environmentally sound manner.
• The Company anticipates providing more detail on the timetable for dewatering and
recommencement of production once these activities have been undertaken."

First time in my life I forgot to pull an order so I am in at 47.5c.
Was spewing when it got to 46c but it is now ~50.5c

In for the long haul anyways.
 
Re: COK - Cockatoo Coal

UMike said:
Seems that COK has just been incinvienienced.
below taken from thier Ann - 10-01-11
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Not only the mines but haulage from them. Some recent aerials.
 

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Re: COK - Cockatoo Coal

UMike said:
First time in my life I forgot to pull an order so I am in at 47.5c.
Was spewing when it got to 46c but it is now ~50.5c

In for the long haul anyways.
Click to expand...
Well not that long. Out at 55c. 15% in a few weeks.


Surely they are going to be more greatly affected by Yasi and the coming rains?
 
Re: COK - Cockatoo Coal

Gone into trading halt.
One of the best valued coal miners around.
Flood issues well and truely over. Whatching it.
 
Re: COK - Cockatoo Coal

Just read the following:

UPDATE 1-SK Networks in talks to buy majority stake in Cockatoo - source
Tue Aug 23, 2011 10:00am GMT Print | Single Page[-] Text [+] * SK Networks in talks for about 50 pct stake - source

* Deal worth about $1 billion - media report (Adds comments from SK Networks, media report)

SEOUL Aug 23 (Reuters) - South Korea's SK Networks Co Ltd is in talks to buy a majority stake in Australian coal producer Cockatoo Coal Ltd , a source told Reuters on Tuesday.

"SK Networks is in talks with Cockatoo Coal to buy an about 50 percent stake and exercise management rights," said the source with knowledge of the negotiations, without disclosing the value of the potential deal.

A media report on Tuesday said SK Networks was "in last-stage talks" to buy a more than 50 percent stake in the coal producer for about $1 billion.

The report said Cockatoo was seeking investors to fund projects, adding: "A fierce bidding competition is underway between Korean and Chinese companies."

A spokesman for SK Networks, a resources and trading unit of conglomerate SK Group, said he was looking into the report.

According to Reuters data, Cockatoo Coal has a total market value of $364.5 million, and shareholders include units of POSCO 005490.KS and Korea Electric Power Corp . (Reporting by Meeyoung Cho, Ju-min Park and Hyunjoo Jin; Editing by Chris Lewis)


© Thomson Reuters 2011 All rights reserved
 
Re: COK - Cockatoo Coal

Knight_744 said:
Just read the following:

UPDATE 1-SK Networks in talks to buy majority stake in Cockatoo - source
Tue Aug 23, 2011 10:00am GMT Print | Single Page[-] Text [+] * SK Networks in talks for about 50 pct stake - source

* Deal worth about $1 billion - media report (Adds comments from SK Networks, media report)
Click to expand...

Does this mean we can expect a bid for COK from South Korea by the end of the week? What would be a fair price for COK shares, bearing mind their assets and potential earnings?

Simplistically, if the deal is worth $1 billion and their last price was 35c and current market cap is $364.5 million, the offer should be around $1.

I hold some COK shares and at the current price they owe me some.
 
Re: COK - Cockatoo Coal

I have heard consensus valuations prior to this play of around. 70c Per share.
I own alot of it and it owes me very little hence I'm feeling good today:)
 
Re: COK - Cockatoo Coal

notting said:
I have heard consensus valuations prior to this play of around. 70c Per share.
I own alot of it and it owes me very little hence I'm feeling good today:)
Click to expand...
kept this one for a while and gave up with them two weeks again...damned a bit of insider trading could have helped me there :(
a loss here another loss tomorrow:cautious:
anyway was due and is now coming well done for the less impatient
 
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