Yes very interesting indeed that the Reuters article concerning SK Networks was so specific in the disclosure of the $1bil sum and the majority stake, must have been someone close to the negotiations that leaked the details.
If there werent any discussions at all taking place then Management would have come out immediately and stated that there was no basis to the rumours. The fact that they went into a trading halt, and took a day to draft a cagey response seems to me that the talks, while not nearing finality, have more substance than being a catch up coffee with industry players. Seems to be almost a reminder to any suitors that they are one of many. At the very least we know that the coal industry is in the crosshairs of some very large international players with large balance sheets and they reecognise that COK is really at the cusp of extracting significantly more value than the circa 35c per measured resource valuation placed on us by Mr Market atm. One look at our top ten shareholder list would show you the interest in this company and really any due diligence process would be far shorter given they should know the company they invest in.
Given the large rise yesterday may see some profit taking but Im seeing it as chance to top up.
COK Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
