QUEENSLAND coal group Cockatoo Coal has been forced to rework its long-term financing needs for its aggressive expansion plans after Korea's SK Networks pulled the plug on a planned $313 million equity placement announced on March 13.
Under the deal, SK was to move from 5.5 per cent of Cockatoo to 40 per cent by taking up a placement at 53.5c a share.
COK Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held