I have stepped back 18 months (wow!) to revive this thread.
Today's AFR at the end of a chat about Anglo American's possible sale of Qld coal assets: "Next on the auction block is South32’s Eagles Downs, for which sell-side adviser Macquarie Capital commenced investor meetings last year. It is expected to serve as a precursor for a sale of the miner’s much bigger Illawarra metallurgical coal mine."
We cannot know whether this is Street Talk idly speculating or whether there is movement here.
Eagle Downs is costing S32 millions a year just sitting there, yet a potential buyer remains elusive.
A stranded asset.
Ash
S32 Price at posting:
$3.41 Sentiment: Buy Disclosure: Held
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(20min delay)