Coking coal hits $200/t Friday and looks like a perfect storm could be brewing. China cutting back working days and QLD supply issues - this is what sent it to $330/t last time punters !
CKA is IMO a sitting duck for a takeover
Previously had a 16c cash bid when coal was $100/t
Coal now $200/t and CKA trading at 5c. Allowing for dilution, it would be an equivalent bid of around 12c. However, given coal is 100% higher, the bid realistically should be 12c+
