CWK - Coalworks Limited

[Bushman]

Guys - this one will be a hot float. It's listing today.

From the website about their flagship Oaklands project:

'Coalworks completed a drilling program at Oaklands in 2008 which delineated an inferred JORC resource of 280 Mt of coal in the southern zone of the Coalworks EL. Potential exists in the north of the Coalworks EL to increase this resource. A further drilling program is planned to upgrade this resource and advance technical studies.' Coal is thermal coal. Has moderate ash content though. So they are going to market with a 280 Mt inferred JORC resource that will presumably be quickly delineated and has the portential to be expanded.

They also have two further prospects - an additional coal deposit and a limestone deposit.

Be interesting to see how it goes. IPO was for 18m shares at $1. I think it will zoom over the next week or so, then settle as we wait for newsflow.

Anyone get on this? It closed oversubscribed which is not surprising.

I will get some more nfo on the projects on the weekend.

Cheers

B'man

 

[michael_selway]

Guys - this one will be a hot float. It's listing today.

From the website about their flagship Oaklands project:

'Coalworks completed a drilling program at Oaklands in 2008 which delineated an inferred JORC resource of 280 Mt of coal in the southern zone of the Coalworks EL. Potential exists in the north of the Coalworks EL to increase this resource. A further drilling program is planned to upgrade this resource and advance technical studies.' Coal is thermal coal. Has moderate ash content though. So they are going to market with a 280 Mt inferred JORC resource that will presumably be quickly delineated and has the portential to be expanded.

They also have two further prospects - an additional coal deposit and a limestone deposit.

Be interesting to see how it goes. IPO was for 18m shares at $1. I think it will zoom over the next week or so, then settle as we wait for newsflow.

Anyone get on this? It closed oversubscribed which is not surprising.

I will get some more nfo on the projects on the weekend.

Cheers

B'man

Wow need to keep an eye on thsi one

thx

MS

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[ta2693]

90c to $1.20 seems to me a very fair price range
102m market cap at $1
280t coal
$0.35/ton for a coal explorer
compared with
AVA is $0.1/ton
Rey is $0.3/ton
I think the value is fair.

 

[YOUNG_TRADER]

Will take a look

Thanks for the heads up Bushman

I'm tearing apart the ASX to add some good coal stocks to my portfolio ranging from specs to more advanced, this one looks like it could 'fit the bill' of more advanced/potential producer in the coal portfolio

 

[Caliente]

90c to $1.20 seems to me a very fair price range
102m market cap at $1
280t coal
$0.35/ton for a coal explorer
compared with
AVA is $0.1/ton
Rey is $0.3/ton
I think the value is fair.

hey ta2693, I can't find the marketcap anywhere. I thought it was only subscribed for 20 million? At 100 million you'd think their current progress is pretty much priced in already.

Also looks like their projects are all thermal which is a bit of a disappointment. Know any good coking coal plays that aren't in the billion+ market cap? Cheers!

-Cali

 

[ta2693]

hey ta2693, I can't find the marketcap anywhere. I thought it was only subscribed for 20 million? At 100 million you'd think their current progress is pretty much priced in already.

Also looks like their projects are all thermal which is a bit of a disappointment. Know any good coking coal plays that aren't in the billion+ market cap? Cheers!

-Cali

I am using the information from top20 shareholder list. You can find the list in the recent announcement.

 

[StockPiles]

A bit of recent movement back in this stock in May ...

Starting the Bankable Feasabillity study .

Production projected to start in 2011 ..

at 20 odd cents, in my opinion this stock is cheap .. Sure Coal has a bit of bad press with the whole global warming paranoid activists but the export potential to China etc is money in the bank !

 

[tehnoob]

A bit of recent movement back in this stock in May ...

Starting the Bankable Feasabillity study .

Production projected to start in 2011 ..

at 20 odd cents, in my opinion this stock is cheap .. Sure Coal has a bit of bad press with the whole global warming paranoid activists but the export potential to China etc is money in the bank !

I bought in last week at 25c, seriously considering putting more up if the SP stays where it is. I agree they are quite cheap, given a resource of 760m tonnes. It's odd to see the SP go down over the last week even with all the momentum in the wider market.

 

[Nero64]

Wonder what's up with the trading halt.

Hopefully it's another significant drilling find or even a takeover from a big name such as Yanzhou for 50c. Then Xstrata come in with a higher offer. They go toe for toe until the share price reaches $8.37(Images of PES)...yeah dreaming!

Hope it's no captial rasing or exploration setback. Oh maybe they made another U.S coal acquisition...yippe

 

[JTLP]

Wonder what's up with the trading halt.

Hopefully it's another significant drilling find or even a takeover from a big name such as Yanzhou for 50c. Then Xstrata come in with a higher offer. They go toe for toe until the share price reaches $8.37(Images of PES)...yeah dreaming!

Hope it's no captial rasing or exploration setback. Oh maybe they made another U.S coal acquisition...yippe

TH regarding a significant ann from the company regarding 2008 tendering process for some coal leases by the looks of things...

DNH

 

[tehnoob]

Does anybody have an idea why CWK has gone from around .20 a week ago to .305 at today's close? There was solid volume, no announcements.

 

[growing]

Lots more units to buy then sell on this one for a long time but it hasnt seemed to make much difference to the share price.

 

[Nero64]

12:40:05 PM 0.300 20,000 6,000.00 XTBKOS
12:40:05 PM 0.300 20,000 6,000.00 XTBKOS
12:39:53 PM 0.300 30,000 9,000.00 XTBKOS
12:39:53 PM 0.300 30,000 9,000.00 XTBKOS
12:39:53 PM 0.310 1,391 431.21
12:39:40 PM 0.300 200,000 60,000.00 XTBKOS
12:39:40 PM 0.300 200,000 60,000.00 XTBKOS

What's going on here?

Some cross trade overseas buy back. Sounds confusing and complicated, but what does it mean?

 

[growing]

GREAT, this company is finally moving a little on that news about INDIA wanting/needing more coal...

About time, it has been sitting low for so long with very limited movement.

 

[growing]

WOW, lots of buying pressure on this one at the moment ..

48 buyers for 1,178,896 units 13 sellers for 211,248 units

Could mean something, havent seen that kind of ratio on this stock for some time .. unless of course someone is trying some manipulation

The price is gowing up nonetheless

 

[growing]

Getting some legs again after dropping recently .. Yeah we all know the MEDIA in Australia takes the government position on "climate change" and COAL is not as popular as it once was but HELLO ?? Coal is needed and WILL be required around the world -- this stock is oversold IMO, especially when INDIA is knocking on the door

HAPPY NEW YEAR from NEW YORK CITY

 

[growing]

Eureka report released some news on this one, since then the buyers have WAY, WAY outnumbered the sellers and the stock has been rising ever so sloooooooooooowly

 

[copashark]

The buyer to seller ratio is extrodinary for this stock. The buyers are normally in the single digits, but it has recently blown out. The sp has not really moved out of its normal trading range though, despite this alleged buying pressure.

 

[growing]

The buyer to seller ratio is extrodinary for this stock. The buyers are normally in the single digits, but it has recently blown out. The sp has not really moved out of its normal trading range though, despite this alleged buying pressure.

Look again, Share Price is going crazy and no end to the upward pressure in sight.

Not sure why? Rated too low for too long IMHO but others have said the same thing.. or an announcement is on the way ??