Looks pretty good. Strip ratios aren't much to write home about, and the structure is a nightmare, but it looks a lot like Baralaba and Wonbindi - unsurprising since it's the same deposit, just further up strike.
So expect possible mines similar to Baralaba in this area - small open cut truck-and-shovel operations for PCI and thermal coal. Long term coal prices look good, and under those conditions we have seen Baralaba can be a real money-maker.
They need more coring before they can define a JORC resource though. Stand by for a resource declaration, could be another 10-20M more tons of PCI and thermal to add to the already impressive Bowen Basin tonnage.
In 5-10 years time, COK could have a string of Baralabas up and down that eastern flank of the Basin, shipping PCI out through Wiggins, on top of their larger Surat thermal mines.
COK Price at posting:
50.5¢ Sentiment: Buy Disclosure: Held
