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Not sure if this is the bottom for coal stocks, but a cash bid for Carabella Resources (ASX: CLR) has pushed it up by 122%

Gavin Wendt

MineLife

Not sure if this is the bottom for coal stocks, but a cash bid for Carabella Resources (ASX: CLR) has pushed it up by 122%. A Chinese group that already holds an 11% stake in the company has offered a cash bid of $0.42 a share. Coal has been amongst the most unloved of commodities over recent years, so it's not surprising that a large private Chinese group has spotted value.

Gavin Wendt
Gavin Wendt View Profile
Founding Director
MineLife

Gavin has been a senior resources analyst following the mining and energy sectors for the past 25 years, working with Intersuisse and Fat Prophets. He is also the Executive Director, Mining & Metals with Independent Investment Research (IIR).

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