new low!, page-8

Officially a dog IMO, unfortunately. The company is a very real chance of folding.

Their mine barely broke even for the past half-year, debts are coming due, the SP has tanked so no chance of equity raising without massive dilution, and they have no conceivable way that I can see to raise the funds for Baralaba expansion.

Management seem completely out of ideas except to keep drilling, squandering precious cash reserves. As if proving up more coal resources matters in the slightest. The deposits are there and they can stand on their own merits. They don't need more tons.

Like Panna1 said the deposits themselves are good quality, which might make them a takeover target, but they're so hamstrung with debt, who'd want to take that on?

I've held this stock since 2007. I should have sold out when the Koreans shafted us by pulling out of the last cap raising - that was the killer blow. If they hadn't done that, Baralaba would have been funded. But they pulled out, which left COK with no other options and the SP has collapsed from 50c to 9c.

But now it's time to cut my losses, I think. Good luck to the holders. I'll keep watching and if management somehow manage the impossible and find a way out of this mess I'll look at buying back in. But unfortunately COK's management haven't impressed me over the last 12 months or so, and this is a Herculean task that would challenge the most competent of teams.