well just look at the announcement. They are looking at finishing everything off on the deal before the end of this quarter. The announcement yeaterday suggest an IER is only a couple of weeks away. The IER is needed for a notice of meetings. So sometime soon we must be getting a notice of meetings (according to the announcement in the next 1- 2 weeks) then 30 days from then we have the EGM to vote for the transaction.
Why did I say that he was a bit early? Well personally I think a lot of the bigger players in this market would want to see the deal finalised before they jump in. SO that is not too far away and I would be waiting for that for the next spike in price. Then following that lets see what happens once Bayan controls the ROO. I expect that they are going to want to produce as much coal as possible so i expect to see good numbers coming througgh over the next 6 - 12 months.
That is why I think he jumped early and will have missed out on the big rise.
But DRArthur did say he did not pay for anything so he probably was a T + 3 trade and I wish him all the best. Thise trades are always difficult with the ROO so I am glad he had a win.
KRL Price at posting:
16.5¢ Sentiment: ST Buy Disclosure: Held
