RE:What's going on?Price of Met Coal at record highs. Management and insiders top ten investors own over 40% of Colonial Coal.
No liquidity so any one trying to pick up or sell a position over 200,000 shares will cause share price to move more than the average liquid stock. Today hit a 9 yr high $1.07 last time over a $1.00 was back in May of 2012. I started to invest 9 years ago in CAD in Aug 2012 around 0.69 and have added as low as 0.045 and sold a bit over the years.
Its one of the most undervalued pure play Met Coal investments for sale in Western Canada / Northern BC.
Management has bought and sold a coal company before for several billion.
The multi billion dollar question is can they do it again ?
At full value CAD could fetch over $10- $20 per share hence the undervalued tag. Buyers have been around and inspected property's over the last few years, no more drilling required as over 700ml tonnes already drilled. Company has plenty of cash to hold properties and they have a legal claim on a deep water port. Properties are next door several other Met Coal deposits and operating mines, with power and rail close by. This higher risk investment in my view and Rosseau Asset Management Ltd, a canadian hedge fund holding over 26ml shares of CAD is not an if but a when.
Current investors are mostly all long term not day traders.