I had a good chat with Gary yesterday and as always he was very forthcoming with details of production and their plans to lift the rate.
He said Dom is off his feet with negotiations and perhaps best to be left alone in terms of updates on offtake - rest assured he is working on a binding deal. Some deals which were offered a little too good to be true so they are being cautious. The big trading house wanted a long period for DD and cokal are not going the Renjian path again.
He has also indicated they are working on a deal with cornerstone investor to share the upside and downside. If an investor comes in as part of the deal it is logical to assume they would be offered shares at a premium (20-30%)
But Ive been burned by high expectations on cokal many times so keeping a level head.
Yes expect announcement to come anyday but could be few weeks away as well.
CKA Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
