Cockatoo Coal (ASX: COK) has responded to some recent media speculation about the company, with an announcement to the ASX.
Cockatoo acknowledged it is in discussions with SK Networks Co. Ltd potentially acquiring a significant interest in Cockatoo.
The company stated:
'Cockatoo has a significant portfolio of Australian coal assets, including an operating metallurgical coal mine, as well as extensive metallurgical and thermal coal development and exploration interests.
'Cockatoo has previously flagged in its public documentation that it is actively exploring various corporate and portfolio development and funding alternatives including asset sales, capital injections and asset injections to support the development of its asset portfolio and broader growth ambitions.
'Cockatoo confirms that discussions have been held with a number of industry participants, including SK Networks, however these commercial-in-confidence discussions are preliminary and incomplete.
'There is no certainty as to whether an agreement will be reached, or the timing of any such agreement.'
In lunchtime intra-day trading, the market has pushed Cockatoo's shares 14% higher to $0.40.