I have a gut feel that Posco has a word with SK to indicate their intention for a corporate transaction soon.
The SK placement had it gone ahead would have complicated matters. In fact it probably can't go ahead if POSCO decided to make a bid (flagging this to the COK board) at say $70 cents (essentially trumping SK's placement sp).
The manner in which (such a large placement in term of dollars) was cancelled at the last minute with so little explanation backs up my theory.
COK ticks all the boxes for an aggressive POSCO to own a coking coal mining companywith infrastructure, operating mine and high grade tenements.
COK Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
