COK
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0.00% 0.0¢ cockatoo coal limited

They were able to snuff out TOP 'cos of the way the DOCA is...

  1. gee321
    30 Posts.
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    25/02/16
    11:13
    Post #: 17112371
    They were able to snuff out TOP 'cos of the way the DOCA is framed. WICET had 1 year performance guarantees of about 36-37m, which they can call on (and have already done for part of it). Based on their creditor ranking WICET can receive 25k +the guarantee money! The contingent liability for WICET is 500m over the life of the contract. So COK is happy to pay out $37m and save $465m!
    COK Price at posting: 0.1¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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