CWK- Coal Works IPO

[Footsie]

I'm in on this one

280mt JORC inferred resource in NSW

43m shares on issue IPO price $1.00 !!!!
m/cap a ridiculous $43m

EV/ resource

= .15 pmt hahahahaa
MCC is $40 pmt
Should run swiftly to $3.00 +

great buying if you can get a few in the $1.00's today or tomorrow.

[Dr_Who]

Are they at a stage to mine the coal?

[AMR]

Footsie, Inferred resources are equivalent to P50 correct? I might take a look at this, very similar to whitehaven coal.

[Dr_Who]

The sp is trending down.

Just had a very brief look at the prospectus. They are only at the stage of assessing the potential coal reserve and not at a stage to mine it.

[AMR]

Doc, It might do another PRC...fall of a bit because production is seen as too far out, only to rally as the project risks fall by the wayside.

[Dr_Who]

Once they start drilling at the commercial stage and/or during the rights issue, I will be looking at buying this pup. Till then, hard to say how low it will go or what risk is associated with it.

[kiwitrev]

All you Pikers should be into this one. Three coal projects (1 a CTL (petrol)). Huge tonnage in Hunter Valley. Nathan Tinkler (Boardwalk) has bought in for 20%-well documented what he's capable of and Bank of America for 5% in very recent times. SP has had a big move up but heaps of potential. Production still 3 yrs off but plenty happening incl. dividend to come from Indonesian J/V.

[kiwitrev]

More heat on this one (Coalworks - ASX). Hit $1 today and good volume. Lots info. on CWK website coalworks.com.au

[kiwitrev]

This stock has become more affordable in recent months after big run-up. Float at $1, down to 25c ish 2009 and now at 54c (AUD). When Nathan Tinkler bought in for 25% stake SP rocketed to over $1. Since prospectus mix of measured, indicated and inferred coals have blown out to 1.25 billion tonnes. Three projects in Gunnedah and Hunter Valley and Sth NSW with production targetted from 2014. Largest project is Oaklands with 822 tonnes of black thermal low sulphur coal ideal for gasification where coal is converted to syngas for power. Reported on Aus. forum BFS on CTL (coal to liquids) expected any time now. If CTL not a goer, alternative options are export and/or power plant in area of mine. Recent news of significance is Macquarrie Bank have taken a 5% stake in CWK. Patient investors with a 3-5 year time frame may wish to run the ruler over this one.

[kiwitrev]

I can't believe I am alone on this one. Merrill Lynch have just taken 8.65% stake, so now we have Nathan Tinkler, 25%, Macquarrie Bank 5% and ML 8.65%. Hey Macduffy coal explorers/producers seem to be your thing, have you looked at CWK?

[kiwitrev]

Up to now I seem to be the only poster with an interest in Coalworks-ASX. Events in recent days have been many and rapid. Tinker has sold his interest to Whitehaven Coal which creates the largest independent. WHC now own the 20% previously controlled by Tinkler. Since ann. of merger Acorn Capital have taken 6% SH, MacQuarrie Group have upped their SH to over 8% and CWK have apptd Pitt Capital Ptrs to advise re change of circumstances. In addition Foster Stockbroking have issued a bullish report suggesting SP between $1 and $2.30 in the event WHC make TO offer. Refer to site
www.fostock.com.au Morning Report 16 Dec. Current SP 65c. Looks to be a real goer but as always DYOR. Is anyone else following?

[kiwitrev]

Takeover speculation is growing following apsec valuation this week at $1 per share. Nice SP move today up 11%. The pertinent point of CWK appointing Pitt Capital Ptrs is that CWK board must be expecting an offer otherwise no point in so doing. It will be interesting to see who the bidder/s are as there are more than one possibe candidate.

[kiwitrev]

Although it seems I am the only poster in Coalworks I will continue to post updates on the company position. These should encourage others to share in the upcoming windfall. My scanner is out of action so unable to post the 11 January letter to S/H from CWK and enclosure from BBY with their research note. The upshot is:
BBY confirm that various factors currently in play(resulting in T/O offer) make it increasingly likely their price target of $1.50 will be achieved. Recommended as a strong buy.

[drillfix]

Hi Kiwitrev,

Just letting you know kev, some of us still read regardless of holding.

Looks like there have been a few previous buying opportunities gone past with CWK, but there will be more as you say, as even although the fundamentals state T/O etc etc, there are some nice technicals shaping up as well, with the stock now reaching higher highs and is set for a confirmed uptrend.

Saying this, at some stage the stock may need to take a breather sometime, though when that is can be anyone's guess.


This is like another SXY except a coal version of it :P

Keep up the postings Trev :)

[kiwitrev]

Hi DF
As they say in outer space, nice to know I'm not alone out there. If you can get access to BBY note you would find it full of additional positive info than I was unable to post. Seen your posts on NWE, would be keen to get in but timing would have to be right, depending on CWK result.
Appreciate your post.

[kiwitrev]

Another solid day today plus another 5%

[drillfix]

Good stuff Trev,

Had an order in myself but never got filled, though there seem to be a few stocks on the march I had orders in so only got one filled.

With regards to NWE, that is an interesting little play which you may or may not know that is waiting on Permits from the WA EPA yet there is no eta on what or when an update will take place, but when or should it get approved, the stock should really make a serious move, so meanwhile the stock is currently trading in its usual range which at any point is a good entry at present, however all depends on these EPA appeals apparently.

Will keep an eye on CWK off and on to monitor it :)

[kiwitrev]

Foster Stockbroking issued further update CWK in their Morning Report 18/1. To view go to www.fostock.com.au
Their Price Target raised 20% from $1 to $1.20, maintaining the price Whithaven
could pay of $2.30 before being dilutive on an EV/Resource metric

[kiwitrev]

S/P has had a steady rise of late with an additional 9% today at present to 82c and looking to still be in demand. Hope some of you got aboard.

[kiwitrev]

Reported on HC BBY have raised their target price to $1.54 from $1.50

[kiwitrev]

Another good day, 6.5% rise to 84.5c presently. Hope you got aboard D/F.

[drillfix]

Hi Trev,

No, I seem to be everywhere atm mate so trying to hold still on a couple of others whilst trading another so missed a bit of this run unfortunately.

Its a tricky thing trying to monitor many stocks all at once or being on all of them at the same time :P