COK is definately one of the most undervalued coal plays on the ASX at the moment. They have been using their money well to aquire quality assets and the market is currently pricing them about 60c a ton of JORC resources.
Only recently we have had takeovers and aquitions where similar quality JORC was valued at $1.50+ a ton of coal.
In that sense COK is still a bargain and they are continually adding quality tentaments to their portfolio.
And they are de-risked with great JV's and partnerships with TOP of the line partners from around the globe.
The management of COK is one to be envied - almost all of them have decades of experience in Coal and decades of successful experience.
With UBS coming in and out - on behalf of their clients - to me it seems - they are constantly buying and XT'ng it out to someone.
Not sure if its a takeover - but given large volumes - UBS trades and a very narrow range of the SP - it does seem something is happening which could be substantially big.
Its only the volumes which raised my eyebrow and im constantly adding onto my position. Stocks which start turning over huge volumes all of a sudden most likely have something positive happening.
Also you would notice that the Stock price has kept a very narrow range - given these kinds of volume means the narrow range of the SP is almost deliberate -
All in All - whether a takeover or a new partner or a new substantial holder - the good news cannot be too far off - even otherwise - fundamentally the company is quite undervalued in my opinion - given their JORC.
So for me its a BUY
Disclaimer: No Advice or opinion given or intended - DYOR.
COK Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
