Wilson HTM recommendation out...HoldOf note:"We remain aware...

Wilson HTM recommendation out...Hold

Of note:

"We remain aware that potential outcomes for the Baralaba Expansion are somewhat bimodal: either the financing occurs, or it does not. We note that COK has solid joint venture partners in JFE Shoji, Mitsui, and bank support from KEBA. COK also has strong industry shareholders in the form of POSCO Australia (13.3%), SK Australia (5.5%), Harum Energy (4.1%), Kores Australia (4.1%), Kores East-W (2.9%) and
KEPCO (2.0%). While it is possible that a refinance may experience a delay, reflecting the current difficult coal market, we believe that a solution will be found, allowing COK to develop the Baralaba Expansion and deliver 3.5 Mtpa into WICET-I by March 2015."

http://www.cockatoocoal.com.au/tasks/sites/cok/assets/File/COK20130503-March%2013%20qtr%20activities%20report.pdf