I have been investing for a while now and I have never seen a...

I have been investing for a while now and I have never seen a strategic placement being announced one month and pulled the next. Ample due diligence would have already been done by SK for many months to go down this path. Judging by the selling the decision to pull out was known for some time before it was made public (making this even more intriguing).

So what has changed in those 3 weeks or so since the placement announcement on March 12 ?????

The lame excuse about the current climate is bull sheet. The european sovereign crisis has stablized since the start of the year and no explict explanation is provided by SK to what attractive investment alternatives they prefer over COK.

http://www.cockatoocoal.com.au/index.cfm/linkservid/040103A8-AEDA-C0D7-B975580BCB9E293B/showMeta/0/

12 March 2012
PROPOSED STRATEGIC PLACEMENT TO SUPPORT GROWTH
Highlights

SK Networks to invest A$313 million in Cockatoo via a placement of shares to increase its interest in Cockatoo to 40%

Placement priced at $0.535 per share representing a 47% premium to the last closing price of Cockatoo