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

[kiwitrev]

CWK in Trading Halt until possibly Monday. Reported to be in regard to the Ferndale project (which has been expecting JORC upgrade). I wouldn't have thought TH normal practice for JORC. Any thoughts on that? Also post on HC mentions 20+ new homes being built at Corowa by large construction coy, which is near CWK flagship project Oaklands. Locals unaware of any details. Next open for trade could be very interesting given all the corporate moves between WHC/ASTON/BOARDWALK/TINKLER.

[kiwitrev]

OK the ann. is out. Ferndale, prev. target 350-530mt. Maiden JORC 743mt inferred coal resource. Now that's a juicy upgrade.

[kiwitrev]

Subdued trading since JORC ann. SP down slightly on moderate TO. However BBY have released today a new price target of $2 sh, up from prev. $1.50 on 11 January. Don't know how to post on this forum the actual aricle so would appreciate any help. Anyway just go to www.bby.com.au/baby-insights to view.

[drillfix]

Anyway just go to www.bby.com.au/baby-insights to view.

Trev,

Can you clarify the link a bit more as it does not resolve as shown.


Page not found

Sorry, it seems you were trying to access a page that doesn't exist.
Please check the spelling of the URL you were trying to access and try again.

Are you logged in when you copy that, as in are you registered on their site?

Try to save the PDF and / or once you have it open, there is a text select tool on up on the tool / menu bar so you can then select what text you want and then paste that into a Text File onto your computer. Then format it if you need to and then paste it into your post on this thread.

Let us know how you go.

[kiwitrev]

Hi DF
Thanks for your post. Not registered on their site, however I can e-mail it if you or anyone would like to access. FYI this was originally posted on TopStocks forum.

[drillfix]

Trev,

Just download it from wherever and then prior to posting here, click the Go Avanced button at the bottom and then you will see the attachment feature where you can upload directly into your post.

Hope that helps.

[kiwitrev]

DF
Can' download. Sure fire way to access article is how I found it. Just google BBY Coalworks.

[drillfix]

When you see an article like this kev, just right click and drag your mouse to highlight that of which text you want, and then right click inside the selected area and the choose copy.

This places that text onto your computers clipboard, then when you come here you then paste in in below like as follows.

is this what you read:



BBY Insights » Coalworks’ Very Own Diamond

Coalworks’ Very Own Diamond

Posted by BBY on 17 February 2012

Coalworks (CWK), a company which is focused on developing coking and thermal coal projects, today provided an updated resource estimate for the Ferndale project in the Hunter Valley. The company identified open cut potential of 443Mt, well up from the previous exploration target of 50-80Mt, prompting BBY Analyst’s Kurt Worden and Mike Harrowell to upgrade their price target to A$2.00/sh. “Coalworks also reported a 300Mt inferred underground resource at Ferndale, with seam thicknesses sufficient to support an underground mine of 5Mtpa for 20yrs plus. This is confirmation of previous guidance,” Kurt and Mike wrote in a note to clients. “While the data on Ferndale’s underground and open cut potential is still very preliminary, there is clearly a lot of coal underlying the lease. Optimization is highly likely to generate a very valuable asset.” BBY retains a STRONG BUY recommendation.

[kiwitrev]

Hi DF
Thanks for all your help. Yep, that's the article.

[kiwitrev]

Hi Posters
Just keeping everyone informed on every little snippet I come across. I nearly fell out of my chair today when I was watching CNBC. A BBY analyst gave Coalworks out as their top trade and as a strong buy. They must have been reading my posts.

[drillfix]

Got to be careful sometimes though with things like this Trev.

The reason why I say this is these people, brokers, insto's, analysts etc etc Usually do this after they are set and wish to distribute it to the public.

That does not mean what they say is wrong or incorrect, but these types of scenario's are Famous for doing just that so I am only saying be cautious when these likes say things like this as they do. Because they dont wear Halo's and they dont take prisoners either. They are simply in distribution mode and as much as the company may be a real gem (or in this case, a piece of coal..lol) you should not become complacent.

Just my 10c here regarding this and please dont take me the wrong way here as I only mean you (and the co) well.

[kiwitrev]

Hi DF
I fully understand sometime motives of anlysts/brokers and the like. In this instance I have, to use your phrase, been set for nearly three yrs with a recent top up. For me I see a win/win situation. If coy taken out (1st option and one most favoured amongst analysts and media), if not company will retain a suite of first class projects, just means a longer wait to complete the coup. Thanks for the words of wisdom.

[kiwitrev]

This from a web-site called buysellsignals.com

BULLISH SIGNALS:
The price soared 10.3% in the last month.
Compared with the All Ordinaries index which rose 1.9%
for the month, this represented a relative price increase of 8.4% for the month.
In the Australian market of 1,290 stocks and 54 units
traded today, the stock has a 6-month relative strength of 81 which means it is beating 81% of the market.
A price rise combined with a high relative strength is a
bullish signal.
The price to 50-day EMAP ratio is 1.1, a bullish indicator. In the past 50 days this ratio has exceeded 1.1 25 times suggesting further upside. The 50-day EMAP has increased to 71.20c. An increase is another bullish indicator.
The Moving Average Convergence Divergence (MACD)
indicator of 12-day Exponential Moving Average (EMA)
minus the 26-day EMA is positive suggesting a bullish signal.
Both the 12-day EMA as well as the 26-day EMA are rising,
another bullish signal.
The price to 200-day MAP ratio is 1.33, a bullish indicator.
In the past 200 days this ratio has exceeded 1.33 seven times suggesting further upside. The stock is trading above both its MAPs and the 50-day MAP of 70.06c is higher than the 200-day MAP of 60.46c, another bullish indicator.

[soulman]

I am joining the chorus on CWK Drill and kiwitrev. Just did a small successful trade and still holding a few at 80.5. Sooner or later, the Tinkler group would want to mop up CWK for a buck o five up to $2. I reckon a good LT holding.

For me and my trader's instinct, I have bad records in holding a stock too long once I see greens in the portfolio. Pretty pissed about EGP. Always thought JPac would want the NSW and QLD in his portfolio and we all would have loved a phone call from his PR regarding his raid on EGP, albeit the derivative version.

[drillfix]

Good couple of posts fella's.

Will check out some charts a little later and put it on my watcher for tomorrows moves.

[kiwitrev]

Hi Soulman
Nice to see I have a little more company. The possibilities regarding possible TO are at least twofold. As you say Tinkler has to be a definite contender, it's in his blood to trade mining companies and CWK is in it's infancy and yet to develop it's projects with over 1.5billion tonnes of coal. Whitehaven Coal seems to be the most favoured buyer by analysts as the natural owner of CWK. The Vickery South project is significant as it's location is important to Whithaven. Add to the mix other heavy weights with significant holdings, remember Tinkler used these guys to roll the board.
The possibility of a bidding war would be mouth watering.
Confirmation of allocation of port capacity should confirm the projects and is touted to be the next important step. The Oaklands project (favoured as CTL but alternatively can be convential or also for a possible power plant) seems not to be included in current valuations. This project would cost megabucks to get up and running but would be the jewel in the crown if successful. DF I have no expertise in charts so would be interested for your comments.

[kiwitrev]

Posted by Eddie Mora at 2012-02-26 12:01:25



Viewed: 15 times Position: Unknown



Post #743773 Report Post To ModeratorMark As SpamAdd to CWK StockWiki



IP 110.145.xxx.221






In reply to post #743403 from -Jono-

Jono,

if u get the chance read my old threads last year on CWK.

bascially everything that could damage a companys' share (external factors) occurred.

This is Japan, new zealand, carbon tax, US debt issue,euro zone, middle east isssue etc. all these factors destroyed the market and caused a massive dip in sp for CWK.

Now that things seem to be getting back to where they are suppose to be CWK will 100% get back up to the $1.00 mark. . . with news due for oaklands and the board applying for PWC in July the sp will be super $1.00 within a few months. once the bigs boys stopping playing games and making short term profits on CWK (which i think is now) there will be a huge demand on the buy side while there will be very little sellers. this will push the sp through the roof.

really simple logical here.

what i am hoping for is a takeover bid by one of the big boys. . . WHC, BHP, RIO . . etc. by the middle of this year. Thats so the sp can get there quickly they have been priced between $1.50-$2.50. . . So lets assume an average at $2.00/sp by August with possible in-specie dividends in the takover company.


my opinion is $1.65 with in-specie @ a low risk percentage based on my @risk model program.

[kiwitrev]

The above post from TopStocks forum by Eddie Mora. He claims to be a guru on CWK, whether or not he is I don't know but if one cares to look back over his posts he is obviously right into it.

[soulman]

Not sure whether you have seen the movie Limitless (brilliant movie 2011) with Eddie Morra character (played by Bradley Cooper) when he turns $100K to more than $2 million in just a few days from day trading the stockmarket. Eddie Morra is a guru in that movie. Not sure about this Eddie Morra but I like the cut of his jib.

[drillfix]

Yes souly, have seen Limitless quite a while ago and one that I have also recommended to many friends and they loved it as well as being one of my favourites too :)

Although, from nowhere to somewhere and all because of a tablet is a little less inspiring than from nowhere to somewhere without a Tablet :P

[drillfix]

charts so would be interested for your comments.

Hi trev,

Well, how about I just post a couple of charts from a ProRealtime study & then make a open, non emotional diagnostic of what the chart is actually saying or at least from my interpretation which is also without any Fundamental commentary.


CWK daily & weekly > http://www.imageurlhost.com/images/tj7xhvmfypgh45vx1h0_CWK.png


On the daily chart (left)
Price now seems to be in an upper range trading above the 13ema which is positive.
Price should test or try to test the upper bollinger band where it will test resistance.
EMA's 13, 30, 90 & 200 are spreading apart having crossed previously showing positive alignment.
A price break of 87c & confirmation move up towards 90c will signal a bullish continuation of uptrend.
Should price be rejected a few times at resistance then price will decline to test the lower bollinger band.
Williams %R confirms the previous upward move and should continue to move upward to show overbought.
Both RSI & OBV and extremely strong with RSI over 60 & OBV also extremely strong which is positive.
MACD Histogram currently is red though showing divergence to the zero line should further gains be had.
MACD Signal lines are in the positive zone and appear to be realigning to cross for a move up again.
Should a breakout occur above 87c occur then $1.05 seems very likely on the cards.

On the weekly chart (right)
Price has traded upward with the upper bollinger band far above the 13ema which some week it will test again.
EMA's 13, 30, 90 on the weekly are spreading apart having crossed previously showing positive alignment.
A price break of 87c & confirmation move up towards 90c will signal a bullish continuation of uptrend.
Price on the weekly shows a slight flattening which is neutral whilst in an uptrend.
Williams %R confirms the previous upward moves & show overbought which it can remain this way for ages.
Both RSI & OBV are extremely strong with RSI near 70 & OBV also nearly peaking.
MACD Histogram currently is green though flattening though more time will continue to indicate.
MACD Signal lines are in the positive zone and aligned to continue its move upward.


Pretty bullish if you ask me, although anything can happen in a week both with stocks and global indexes.

The fundamentals
You folks are the ones good at that or have your fingers on the pulse more than I so you can fire away or add to whatever has already been added. The Fundamentals can also drive this chart with information or announcements, yet talk of takeover or speculation to that is exactly just that, with FA and TA combined we can use this to watch out for the breakouts with large volumes to indicate this. (currently not much volume going through on CWK) (and not shown in the chart, sorry) however a take over speculation is not the reason alone to buy into a stock but with the bullish chart and FA that has been given here can sure make those who are buying the uptrend more comfortable with such investment or trade.

To conclude my take I will suggest to watch for the new High over 87c, and also watch out if it does not break that intermediate resistance point as it may test it a couple of times, and a failure of that will see the price take a breather and technically all the indicators will also confirm and show this, so as usual with stocks for either trading or investing, Finger on the Pulse here people because the next few days will be of importance for CWK.

Good luck~!

[kiwitrev]

Trading halt! As always plenty of speculation about content surrounding TH, however one could be excused for thinking it has to be positive for holders. If it concerns TO, difficult to understand that it could be Whitehaven/Aston as approval for their merger yet to be ratified by SH. That leaves Tinkler as the only known interested party although there are other heavyweights on the register.Th in place until Thursday. Souly I know you are aboard. Good luck.

[kiwitrev]

TH is re material Capital Raising. Only project that currently requires material capital is flagship Oaklands which is considerably overdue with BFS. Project said to require $billions.

[soulman]

Unfortunately no KT. Wished I still am as I last sold for 76.

[kiwitrev]

At last ann. re CR. 22m new shares issued @ 78c, Noble Group (Asian powerhouse) now holding 9% and arrangement to assist CWK in sales/distribution processes. TH lifted, initial response on low vol. down 5c, however I expect this to quickly be reversed as this can only be seen as positive for CWK on many fronts. CWK board are clearly at odds with Tinkler and this move designed to keep them in the game. What will happen re Aston/Whitehaven merger from CWK perspective? I guess that's anyone's guess but it's plain to see more than one agenda in play. Stay tuned.

[kiwitrev]

FYI latest post on TS.


Doing the maths (hopefully accurately, and on the basis of limited disclosure) gives this current picture of CWK's substantial holders -

Boardwalk - 17.3%
Noble - 9%
Macquarie - 7.12%
Acorn -5.3%

(For Noble to reach 9% as reported, they must have previously held some 4 million shares).

So IMHO it changes nothing - just rewards Noble and others close to BBY in the short-term with cheaper shares, before the inevitable takeover by WHC.

$156 mill. for WHC to buy out the shares that they don't own (or scrip equivalent) which is roughly what Vickery South is worth.
Absolutely nothing to a $5.1 bill. merged enterprise and they get Ferndale and Oaklands thrown in.

Game on .......!

[kiwitrev]

Latest news report FYI.

April 11, 2012, 2:11 PM

Coalworks Digs In for the Long Haul, Despite Bid Talk

Deal Journal Australia HOME PAGE »
By Robb M. Stewart

Coalworks is determined to maintain its independence as it progresses toward becoming a coal producer, despite speculation it could be pulled into Whitehaven Coal’s web of consolidation.

The company’s focus after raising A$17.4 million is on completing the bankable feasibility study for the Vickery South project in New South Wales state, and a similar study next year for the Ferndale project, Chairman Wayne Mitchell told Deal Journal Australia in a telephone interview from Hong Kong.

“The strategy of the company and of the board is on becoming an independent coal producer,” he said, adding Coalworks had secured the support investors at home and internationally with the successful roadshow for the oversubscribed share placement.

The company hasn’t been contacted by Whitehaven or mining magnate Nathan Tinkler’s Aston Resources since they unveiled plans to combine and create the largest coal producer in New South Wales’s Gunnedah Basin. Another vehicle owned by Mr. Tinkler, Boardwalk Resources, is the largest shareholder of Coalworks and its presence on the register ignited speculation that it may also be a future M&A target.

Mr. Mitchell plans to meet with Pitt Capital Partners later this month for an update on how Coalworks should develop its strategy in the wake of the Whitehaven-Aston alliance. The appointment of Pitt Capital, headed by New Hope chairman Robert Millner, as advisers was announced just days after that deal was done.

Mr. Mitchell, who specializes in financing and project evaluation, said negotiations are underway on lining up debt funding for the coal projects. He declined to comment on the amount of debt the company plans to raise until the feasibility studies are completed, but said it’s likely to represent about 60% of the capital cost of building the mines.

Although speculation Coalworks may be drawn into the A$2.25 billion deal between Whitehaven and Aston is unlikely to fade completely, Coalworks did take a step toward asserting its independence by securing Asian commodities trading company Noble Group as a 9% stakeholder through the share placement.

Still, Boardwalk looms large on the register with a 19.9% stake before the placement. And Boardwalk is jointly developing the Ferndale project, with the right to earn a 50% interest by undertaking exploration and feasibility studies.

Coalworks’ immediate priority, says Mr. Mitchell, is completing the study on Vickery South, which is due by November. The coking and thermal coal project being developed with Japanese trading company Itochu has identified a 58.5 million ton resource. A pre-feasibility study estimated the capital cost would be about A$206 million up to 2016.


Link Provided: blogs.wsj.com/dealjournalaustralia/2012/04/11/coal...

[kiwitrev]

At metings today SH of both Aston/Whitehaven overwhelmingly voted in favour of $5b merger (19.9% of CWK to be held by WHC once ratified by Courts). Refer to media report following.

Whitehaven-Aston merger gets shareholder thumbs up


April 16, 2012 - 10:22AM Read later
.


Shareholders in Whitehaven Coal and Aston Resources, voting in advance of this morning's general meeting to approve a $5.1 billion merger between the two companies, have overwhelmingly endorsed the deal including the controversial acquisition of Boardwalk Resources.

Proxy votes lodged by Whitehaven shareholders are running 90 per cent in favour of the Boardwalk acquisition despite recommendations from proxy advisor CGI Glass Lewis that they vote against the acquisition.

Ninety nine per cent of Aston Resources shareholders voting by proxy were in favour of the merger with Whitehaven.

Advertisement: Story continues below

Whitehaven chairman John Conde said the boardwalk transaction represented "an important milestone in the continued growth of the Whitehaven group".

Boardwalk's assets are located in established coal mining areas, with well-understood geology in proven coal basins.

All of the Boardwalk exploration assets are located near established mines or coal mining development projects and existing rail infrastructure. Conde said he was confident the portfolio of assets would provide the expanded Whitehaven group with future development options and a platform for growth.

paddy.manning@fairfaxmedia.com.au


Read more: http://www.theage.com.au/business/whitehavenaston-merger-gets-shareholder-thumbs-up-20120416-1x2fa.html#ixzz1sAsSWRvl

Should find out in coming weeks if Whitehaven serious about CWK.

[kiwitrev]

The Tinkler/Boardwalk/Whitehaven plan enters a new phase today. MacQuarrie Bank (a Tinkler ally in
rolling the board at last AGM) has requistioned CWK to call a SH meeting to replace long standing directors Firek and Mitchell with their nominees. Will be interesting to see how the market reacts to this news and how CWK handle this move. With Noble Group now on board the Tinkler led group are likely to have the numbers in a vote.

[kiwitrev]

Another view from HC post re latest move.

Maquarie calls General Meeting of Shareholders to get rid of Mitchell and Firek as Directors.

Bring it on -
This looks like GREAT news.
Think about this - who will be the only Director unchallenged !?! Yep, Ian Craig (Nathan's man).
So at the last AGM when Nathan and Maquarie voted to get rid of Directors who put themselves up for re-election, they got rid of them. All resolutions were defeated EXCEPT re-election of Ian Craig.
Bottom line is that Nathan and Maquarie are still pulling the strings - the Directors have little chance as Board and management only hold 12% - I wonder who Platinum represent !?!
Bring it on and we'll all see a big payday ......

[kiwitrev]

For those that are interested in CWK the inevitable offer from WHC has materialised @ $1 ps, closing SP Friday 85.5cps. Will this be enough to clinch the deal, no other buyers on horizon so it will be interesting to see how it turns out. Congrats to anyone else out there?

[soulman]

U striked a winner there kiwi. Looks like the only thing in double digit green.

[kiwitrev]

Thank for that SM. Only sorry couldn't convince more to join in.