interesting games being played a.t.m. still lots of bot activity but some higher volume selling.
current share price is now half that implied by the AZT / WHC merger when they threw in Boardwalk to make it more of a "merger of equals".
Can't stay at this price for very long based on this - why pay $1.54 when the shares are half this amount ?
Probably getting close to last chance to accumulate cheaply imho.
BBY - "Coalworks (CWK) is highly likely to be consolidated into the merged group, but probably post Whitehaven Coal (WHC) and Aston Resource (AZT) merger completed. The merger order is likely to be AZT/WHC, then AZT/WHC + Boardwalk, then the Combined + CWK. An expert valuation has to be completed and it would delay the merger if the valuation has to consider additional assets, i.e. CWK. The most likely way for an early CWK bid to occur is if the bid came from Boardwalk. Whether it is a mistake or not, the addition of CWK’s 100% Oaklands project as one of the Boardwalk contingency earn in projects suggests that Boardwalk plans to bid for CWK and this could happen before the AZT WHC merger is complete. What is very puzzling is that the Boardwalk valuation has been set, without any apparent variation mechanism to allow for it to take CWK early. For that reason, it looks like the CWK bid will follow a merger between AZT/WHC and Boardwalk."
CWK Price at posting:
73.8¢ Sentiment: Buy Disclosure: Held
