You could only put down the rise to a buy-out of the 70% majority shareholder which would then be passed on to minority shareholders.
The rise in the Premium hard coking coal, Fob DBCT(Dalrymble Bay Coal Terminal) price to ~$US113/t today from a low price of ~$US103/t a month ago does not justify this move and doesn't change my revenue projections for this quarter that I posted on 18Aug. Today's price is similar to the price at 1July.
Investors might be expecting further price increases in line with the increase in iron ore prices but it really hasn't happened yet.
The only other factor might be a listing on NYSE getting closer.
Ann: Equity Raising Investor Briefing - 10.30am - 18 August 2020, page-17
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