Gavin Wendt

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.


Please sign in to comment on this wire.
Medium screen shot 2016 01 12 at 2.25.34 pm

James Marlay

This is definitely an interesting move Gavin. I haven't had a look at who the bidder is but an all cash offer definitely points to an opportunistic buyer. CLR was a market darling back in 2011 but has fallen deeply below the radar for the past few years.

Join the conversation