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Re: COK - Cockatoo Coal

There was no indications from the stock price movements, so no way to know. I had it and have been building on it as a keeper because it's sitting on a great resource of quality coal that is in high demand at present.
Just bad luck sorry to hear you got out snoops.
Resource stocks are still very much in demand there's plenty out there!
 
Re: COK - Cockatoo Coal

Hard to believe it traded at .385 whilst it's being fought over!(according to whispers)
Big buying at the end of the day taking it up to %27.5 lift for the day.
Not bad. The real action hasn't even started yet. Hope it drifts down again.
 
Re: COK - Cockatoo Coal

Had a good day today on these ones, hopefully this is just the beginning. Bought at 0.48 and then 0.39 so will wait and see. Outlook still looks positive though.
 
Re: COK - Cockatoo Coal

Sudden bounce!!
This has been very flat during all the recent termoil.
It is said to be in play. This is old news.
Todays move is dramatic compaired to very recent flatness between 38c and 39.5c
 
Re: COK - Cockatoo Coal

notting said:
Sudden bounce!!
This has been very flat during all the recent termoil.
It is said to be in play. This is old news.
Todays move is dramatic compaired to very recent flatness between 38c and 39.5c
Click to expand...

Wot? Only a 1.5 cent increase to a high of 41 cents?
 
Re: COK - Cockatoo Coal

Fair point there, notting. A 3.8% rise in today's market is not to be sneezed at! I'd like to see a bit more volume go with the rise though before getting too excited.
 
Re: COK - Cockatoo Coal

Shocker of a deal lifts shares by 20%!!
SK Networks lifts it's stake to 40% at a so called premium to a pathetic last closing price which was the lowest close for ages!!
The company was probably worth over 70c per share! Prior.
No take over, nothing for share holders.
COK has now got more money to do things which is about the only positive.
Share holders were expecting a take over.
I was going to put big big bucks into this one, not now.
I guess you should suspect that a company that calls itself Cokatoo coal might be run by Gallahs!
 
Re: COK - Cockatook Coal

SK Networks re-neg on the deal!!
Fantastic.
Well, except that now COK will probably need a massive capital raising to fund themselves.
Unless SK come back with a full tilt bid after COK continues to tank as it did today amid the new funding uncertainty coupled with loss of faith from share holders over the SK deal.
Too speculative to take a position on this new development at this point.
But with May chaos, could get insanely low!
 
Re: COK - Cockatoo Coal

I got out with a small profit at 42c i think, i had stopped following them really so i probably fluked that one. Will keep an eye on them as they are a solid business from a local point of view, my old man told me to look at them because he is a supplier of theirs and said they are extremely good payers. Will add it to the research list
 
Re: COK - Cockatoo Coal

notting said:
Was down 17% or so at one point.
Couldn't help myself!
So I did!
Click to expand...

Selling does seem a bit overdone... COK near it's 52 week lows, lots of buying in at 26-27c. It managed to close at 28c on Tuesday. Don't think it'll stay at this price for too much longer?

According to the age:

Failed equity bid ruffles Cockatoo
Author: PADDY MANNING
Date: 24/04/2012
Words: 273
Publication: The Age
Section: Business
Page: 4

COCKATOO Coal will need to raise fresh equity by the end of the year to develop its mining projects, after Korean shareholder SK Networks withdrew from a planned $313 million placement.

The placement would have lifted SK's stake in Cockatoo from 5.5 per cent to 40 per cent but, at 53.5? a share, was priced at a steep premium to the market. Cockatoo shares dropped 2.5? or 7.25 per cent to 34? yesterday, compounding heavy falls since February.

Cockatoo is expanding its producing Baralaba mine in the Bowen Basin, and has a number of other Surat Basin development projects to fund, including Woori. Cockatoo sold 49 per cent of Woori to a subsidiary of Japan's Mitsui Coal in March for $37.3 million.

Asian utilities and steel mills own 32 per cent of Cockatoo including POSCO (13.3 per cent), SK, Kores (4.1 per cent), Indonesia's Harum Energy (4.1 per cent), Korea East-West Power (2.9 per cent) and Kepco (2 per cent).

Wilson HTM analyst Andrew Pedler said these shareholders were "genuinely committed" to Cockatoo and its projects and said the company had a "reasonable prospect" of raising equity as it was in a better position than other emerging coal producers without cashflow.

Cockatoo said SK cited "prioritisation of investment opportunities . . . and the ongoing uncertainty in global markets".

Mr Pedler said Cockatoo would need to raise "less than half" the amount of equity SK was to have contributed.

CLSA analyst James Stewart said the announcement was negative for Cockatoo, which could move to sell down Baralaba, expected to produce 750,000 tonnes of PCI coal with plans to expand that to 3.5 million tonnes by 2014. He said it was most likely an Asian steel mill would inject capital and secure offtake from Baralaba.
 
Re: COK - Cockatoo Coal

Chasero said:
Selling does seem a bit overdone... COK near it's 52 week lows, lots of buying in at 26-27c. It managed to close at 28c on Tuesday. Don't think it'll stay at this price for too much longer?

According to the age:

Failed equity bid ruffles Cockatoo
Author: PADDY MANNING
Date: 24/04/2012
Words: 273
Publication: The Age
Section: Business
Page: 4

COCKATOO Coal will need to raise fresh equity by the end of the year to develop its mining projects, after Korean shareholder SK Networks withdrew from a planned $313 million placement.

The placement would have lifted SK's stake in Cockatoo from 5.5 per cent to 40 per cent but, at 53.5? a share, was priced at a steep premium to the market. Cockatoo shares dropped 2.5? or 7.25 per cent to 34? yesterday, compounding heavy falls since February.

Cockatoo is expanding its producing Baralaba mine in the Bowen Basin, and has a number of other Surat Basin development projects to fund, including Woori. Cockatoo sold 49 per cent of Woori to a subsidiary of Japan's Mitsui Coal in March for $37.3 million.

Asian utilities and steel mills own 32 per cent of Cockatoo including POSCO (13.3 per cent), SK, Kores (4.1 per cent), Indonesia's Harum Energy (4.1 per cent), Korea East-West Power (2.9 per cent) and Kepco (2 per cent).

Wilson HTM analyst Andrew Pedler said these shareholders were "genuinely committed" to Cockatoo and its projects and said the company had a "reasonable prospect" of raising equity as it was in a better position than other emerging coal producers without cashflow.

Cockatoo said SK cited "prioritisation of investment opportunities . . . and the ongoing uncertainty in global markets".

Mr Pedler said Cockatoo would need to raise "less than half" the amount of equity SK was to have contributed.

CLSA analyst James Stewart said the announcement was negative for Cockatoo, which could move to sell down Baralaba, expected to produce 750,000 tonnes of PCI coal with plans to expand that to 3.5 million tonnes by 2014. He said it was most likely an Asian steel mill would inject capital and secure offtake from Baralaba.
Click to expand...


Good reference.
I personally think COK would not be waiting for long time.
It is because the quality of coal is metallurgical - coke. That is a premium product and not available. It will be driven by iron ore demand however from blast furnances in steel mill.
The losing of partner is a temporary phenomenon. COK will get a financier who will probably offer a much lower price than SK Network - but it will be still a money.
The fact is one of the directors put $540,000 to buy heaps of COK shares at 27 cents is a good sign.
So I opened my travel kitty and put some money to buy at 27 cents for a smallest parcel.
 
Re: COK - Cockatoo Coal

Full tilt bid coming in my opinion.
Committed steak holders should have told management and SK to go stick it.
The director is acting fast so it cannot be insider trading whilst SK pretends to walk away.
 
Re: COK - Cockatoo Coal

The price is now totally insane!
I have baught more. It's not necessarily "a trade" at this point however if you are prepaired to invest and wait. Personally I think it's an absolute craker!
Rembering, I have both lost and won back fortunes before!!!
 
Re: COK - Cockatoo Coal

I thought the same however i was a few days too early and entered at $0.27. Only a small parcel and more than happy to hold on as long as i have to. Hopefully once they get their Baralaba Mine up to a good production then we might see a rise in the share price, not too phased about the drop recently as investors cash out as they announced a pretty hefty drop in profits for their last announcement.
 
Re: COK - Cockatoo Coal

Having a better morning.
I haven't heard any news.
Maybe something in the Financial Rampview?
 
Re: COK - Cockatoo Coal

129 buyers for 8,428,978 units 86 sellers for 4,698,246 units :xyxthumbs

Positive buying pressure today, cant say much else positive about this one- disclosure- serves me right for buying into "dirty old coal" :shake: Chart should turn around though if the buying pressure keeps up, fingers crossed :eek:
 
Re: COK - Cockatoo Coal

Pretty awesome day today with the sector in the dog house.
Then again I suppose it's only bounced back to where it was 3 weeks ago.
Great upgrade and financing improvements making it pretty attractive for any country wanting to continue to import the best coal.
Even if coal stays slumped COK will be fine at these levels providing it gets the partner, take over or finance. It's done bankable studies so very likely to be get through the recent panic!
Will be watching it closely to go sick on!

Disclaimer - I’ve been in and out of it and have been buying it since it fell through 10.5c which may have seemed stupid technically but fundamentally this is ridiculously priced if it and coal get over the slump.
 
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