this funding issue, page-2

Whilst I have long-term faith that COK will deliver - something! These stocks were really a product of crazed PRE GFC resources investment and their funding profiles reflect a waayyy overly simplistic view of complex project delivery. Such realities might also raise serious questions regards longer-term senior management issues?!?!?!

A lot of projects, including those of COK are, at least 5yrs, maybe closer to 10yrs behind schedule and their funding models need to now to reflect this reality. Also, some mining projects, promoted in pre GFC days, are highly conditional upon major, often billion dollar plus, supporting infrastructure projects (rail, road, ports etc) and these projects currently have serious credibility issues with both investors and financiers. For example, the Surat Basin region, where COK has exposure, is probably a bit of a dead-duck for another 2-4yrs (maybe even a little longer).

My own personal view, there will likely be corporate activity to consolidate much of the mining sector before many projects proceed and, next year will, much like this one, be rather quiet! I believe at current prices COK represents strategic investment value, but project delivery itself is still long-term.

Just my layman's views, DYOR.