Interesting read, could Ksk find better value in CCc SA...

Interesting read, could Ksk find better value in CCc SA maybe..going by the second half of the artical we produce twice the amount then cok and have a more realistic and aggresive plan plus the way things are heating up we should have coking coal a lot quicker then cok...

http://www.businessspectator.com.au/bs.nsf/Article/Koreas-SK-Networks-abandons-Cockatoo-Coal-deal-pd20120423-TMPDG?opendocument&src=rss

Korea's SK Networks has abandoned a planned $313 million equity placement ? announced on March 13 ? leaving Queensland coal group Cockatoo Coal scrambling to rework plans on how it will finance aggressive expansion plans, according to a report by The Australian.

Uncertainty in global markets and a desire to pursue other investment opportunities were cited by SK in announcing its surprise decision. SK had said it would move from 5.5 per cent of Cockatoo to 40 per cent in a deal that would have valued shares at 53.5 cents. Following the announcement of the reversal, Cockatoo shares fell 2.5 cents, or 7.2 per cent, to 32 cents.

Korea's Posco will remain Cockatoo's largest shareholder, with 13.5 per cent.

Cockatoo hopes to produce a record 750,000 tonnes of coal this year, with a goal of reaching 12 million tonnes in annual production by 2018.

Analysts said that the hot market for mergers and acquisitions should leave Cockatoo with options to consider in finding a new source of financing, The Australian reported.