I'd be a little surprised if Gloucester coal were eyeing up EER's thermal coal assets as I'm pretty sure I read fairly recently that their corporate strategy was to focus predominantly on their metallurgical coal assets ahead of their thermal coal holdings due to their belief that met. coal has a more favourable global price outlook in the medium term. Happy to be proved wrong tho, as long as any bid for EER in the near future is pitched upwards of $1.50 (imo probably unlikely at the mo tho until EER's coal has been proved up a little more. However, not beyond the realms as the shallow nature of the coal is a BIG plus for EER and shouldn't be underestimated, the extremely low depth definitely enhances the economics and commerciality of their coal tenements greatly & goes a fair way towards offsetting the recently disclosed lower coal energy quality results when compared to someone like BND.)
It's gonna be very difficult for any potential suitors to wrestle control of EER with the MD & Noble holding the vast majority of equity between them, hopefully they hold on until the share price is a good few multiples of where it is sitting at present..!
All the best to All EER holders!
EER Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
