I'm truly amazed the ASX even publishes such rubbish. As a shareholder I would be insulted at the proposed deal
$200M for a QLD based coal asset is fantasy. It is nothing more than slipping an asset of theirs into a shell for 99.99% of the register and then seeking to raise capital at a ridiculously inflated price to pay years and years of directors fees
If anyone put a $ in this with a $200M asset valuation, they have rocks in their head
Martino's CKA has a 264Mt coking coal tenement in Indonesia, mining license and forestry licenses in place, port and barges designed etc. Has been subject to 2 failed T/O attempts and is now trading at all time lows. The last T/O had 9 months of delays, 3 months of suspensions where they missed the relist deadline each time for updates. 6 weeks ago they said in 4 weeks they could have an ASX merger announced, still nothing ... CKA is capped at under $20M
If you can't manage more than a $20M market cap for a production ready asset, you think they are going to get $200M valuations for QLD assets ?
It is beyond stupidity IMO
PZC Price at posting:
0.3¢ Sentiment: Sell Disclosure: Not Held
