Interesting to see Carbon Energy aquiring two clean coal companies in the US and UK.
The reason was to expand their UCG projects world wide.
"Carbon Energy Signs Agreement for Major International Acquisitions"
Carbon Energy Limited (?Carbon Energy? ASX: CNX) developer of Australia?s first commercial Underground Coal Gasification (UCG) fuelled power station has executed a Share Sale Agreement to acquire USA-based Clean Coal Inc. and UK-based Clean Coal Amasra Ltd. This transaction delivers projects in the United States of America and Turkey as developed by Clean Coal Ltd. The acquisition has the potential to increase Carbon Energy?s coal resources by almost three fold to in excess of 2 billion tonnes and underpins the Company?s plans to build an international portfolio of UCG projects.
CGV quite literally have a suite of projects in developement world wide. India, US, Aus and China.
Probably there biggest attraction is the technology they hold though and experience in management.
They may see a few take over offers in the future but I would prefer they go it alone. Imo they will be worth a whole lot more than any company could reasonably offer them currently.
An official bid on the table at 20c a share would certainly wake the market though!
CGV Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
