looks bullish, page-4

I like it, good story evolving here. The breakout on large volumes today has confirmed the potential future of Centennial Coal.

check this article:

Australian Coal Stocks Surge to Records on Takeover Speculation

By Jesse Riseborough

May 23 (Bloomberg) -- Felix Resources Ltd., the best performer on Australia's benchmark index this year, and Centennial Coal Co. surged to records in Sydney, pacing gains by producers of the fuel, on speculation of increased industry takeovers.

Felix, which has more than doubled this year, jumped 7.5 percent on the Australian stock exchange and Sydney-based Centennial advanced 12 percent.

The speculation has been spurred by ArcelorMittal's purchase this week of a 14.9 percent stake in Macarthur Coal Ltd. for A$631 million ($604 million). Acquisitions of coal and iron-ore assets in Australia, the world's largest exporter of the raw materials, will rise as steelmakers try to reduce costs, UBS AG said in a report this week.

For the rest of the article go to:

http://www.bloomberg.com/apps/news?pid=20601081&sid=aCrFQW7kRlsU&refer=australia