I'm never going to understand this market, if COK's weakness is due to the royalty hike then why the hell are my AQA shares rocketing? The west pilbara iron ore project is currently dead but will be resuscitated when the IO market recovers. The Bowen coal deposits are all Hard coking stuff which is being hit big by the royalty. Surely, if investors of AQA have shrugged off the tax hike, COK investors can do too?
Nobananas, the loan is due at the end of the year I believe. But the Korean banks will extend it. COK has essentially become Korea's way to put their foot into Australian coal assets. I doubt the board would approve aggressive exploration into the Surat and Baralaba if they didn't have the support of the Koreans. Half our board is Korean...
COK Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
