What will 2014 bring for COK? We start the year with no debt...

What will 2014 bring for COK? We start the year with no debt having paid the $95m back, another $58m of shareholder funds to spend before accessing the line of credit from ANZ, and then up to $255m to spend.

Notwithstanding that small shareholders have been diluted out of existence to get to this position, the expansion of Baralaba seems assured and export of 3.5m tpa out of WICET seems on target.

Why then does no-one seem positively interested in the SP when this appears a good news story? Is it just Blackwood 2 for 1 investors bailing out? 4 and 5 million shares are exchanging hands each day, but the sellers very much have the running. The big shareholders wont be selling, long term COK shareholders would be holding having been through the pain, management is buying, so who is off-loading?

My hopes for COK in 2014;
Shareholder funds and the line of credit are wisely used and not wasted on exploration of lineball leases across the former Blackwood assets
Debt and interest payments are managed carefully to produce an operating profit from Baralaba as COK draws down against the $255m
Prices bottom for PCI coal and COK stays above water with a low cost structure
The market picks up some sort of growth vibe about COK and it lifts above 8-10 cents and stays there (mkt cap about $400m)

Let's hope a better year!