Strategic Pooled Investment listed as SPD in http://www.spd.com.au/html/spd.htm?Link=5 ASX is floating a coal exploration assets.
They are floating the IPO with 60 cents per share with few yet to be explored assets in Qld and British Columbia.
On reading the prospectus I found it was interesting to have an asking price of 60 cents for an exploratin assets with high thermal in Aus and limited Coking assets in British Columbia.
I have just returned to perth from British Columbia after two months stay . Did not hear about this one however then. But I am a metal miner and not a coal one .
the prospectus is referring the strengths on east energy and Bandana energy than its own.
Where the money will go - details in prospectus.
relatively high ash IMO even with a lower sulphur.
the SPD shares were traded between 9 and 13 cents and this big jump of asking price is ambitious.
considering other coal assets GUF, OEX, COK, EER - I would step outside to watch its movement
Bell Direct is its Lead Manager.
Any update from some one who studied on it will be appreciated