My view is that they were probably looking to buy assets 6-9 months ago, and hence the convertible note issue. As you say, the commentary at the time suggested this was definitely the case.
However, with current high coal prices, I suspect price expectations of vendors have increased significantly and they are now less likely to make an acquisition as a result.
The Chairman buying shares a few weeks ago suggests to me that a material acquisition is off the table for a while.
My view is that they were probably looking to buy assets 6-9...
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$4.70 |
Change
0.030(0.64%) |
Mkt cap ! $3.973B | |||
| Open | High | Low | Value | Volume |
| $4.70 | $4.76 | $4.69 | $9.484M | 2.010M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4386 | $4.70 |
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| Price($) | Vol. | No. |
|---|---|---|
| $4.71 | 218 | 1 |
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