In all seriousness, a takeover is now very very likely. We have a proven high quality deposit and management who have proven to be highly incompetent and who have little to zero ability in unlocking the true value of this high quality deposit. No doubt there will be a lot of Chinese investors running their rulers over CKA over the next few weeks. Against the backdrop of China's domestic mine closures, strong growth in coking coal imports and the importance of their crude steel sector, there is definitely strong impetus for Chinese companies to be securing coking coal resources abroad. And Indonesia, given its significant freight advantage, definitely stands out as a strong candidate. I would expect something like 30-40% premium to some last days average traded price, but its anyone's guess.
CKA Price at posting:
5.0¢ Sentiment: None Disclosure: Held
