# CCC - Continental Coal



## bocky (13 April 2010)

CCC is in suspension at present. They are about to surpass 2 major hurdles that any small mining company will need before they can get bigger
1- Debt finance- you have to grow your company somehow, debt is better for existing shareholders when compared to new share issues
2-Off-take: all their coal is "pre-bought" meaning that they have secured revenues for future production. 

I understand that there is a long way up for this company with the above situation, I am comfortable with a target of $0.12 (currently 5cents) with upside down the track

I also understand the corporate appeal for thermal coal is really heating up considering
-USA has new environmental hurdles limiting coal power generation from USA. Bad for USA thermal coal producers. Good for non-USA coal producers (CCC is African)
-Oil prices trending steadily higher

Any thoughts?


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## Skip1jz (14 April 2010)

Suspension has been dragged out as another two parties have come forward to offer "superior" off-take and funding package than that offered by EDF S.A, which bought about the suspension.

Bocky, from what I understand at the present there will be no dilution with this funding package proposed by EDF, it is purely a loan paid back with X% interest?

Would be interesting to know the current SP if the stock had not gone into suspension.

I hold.


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## Boyou (19 April 2010)

Trading again today. The news looks good ,although,being treated poorly by the market so far....Perhaps the general pullback has something to do with it?

From the Company announcement.

FURTHER OFFTAKE WITH EDF TRADING AND ADDITIONAL US$27m FINANCING FACILITY
Key Points:
•
Second off-take agreement to be entered into with EDF Trading, a leader in the international wholesale energy markets and a wholly-owned subsidiary of EDF S.A., the world’s largest energy utility;
•
Option granted for EDF Trading to provide up to an additional US$20M of funding for the Vlakplaats Coal Mine which will be repaid from coal production;
•
Additional US$27M (ZAR200M) funding agreement entered into with South African investment consortium;
•
Funding package and off-take agreement with EDF Trading is in addition to the US$20M funding and off-take arrangements previously announced on 30 March 2010;
•
Completion of off-take discussions and funding arrangements now allows Continental to complete acquisition and aggressively fund development of its portfolio of coal mines into production over the next 12 months; and
•
First Continental coal mine, Vlarkvarkfontein, to commence first coal sales in May 2010.


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## Skip1jz (19 April 2010)

Yes I think the market reaction to this deal would have been far more postive, I guess when the XAO is down around 1.5% the speculators aren't going to be rushing in. Will continue to hold and hope for some positive sentiment.


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## drillinto (22 April 2010)

April 21, 2010

Continental Coal Is Building Up A Nice Head Of Steam In South Africa, As It Powers On Towards A Production Goal Of Nine Million Tonnes Per Year
By Charles Wyatt
www.minesite.com/aus.html [Free registration]

This year looks like being pretty exciting for Australian-listed Continental Coal, which has its assets in South Africa. It helps, of course, that coal is flavour of the month, but you can have huge amounts of coal but will make no money out of it unless off-take agreements are in place and unless transportation is no great problem. In the case of ContiCoal, as it’s called, it started mining activities at its Vlakvarkfontein mine a few weeks ago, blasting is now underway, and it expects to achieve first coal sales in May. The company has secured up to 300,000tonnes per month of rail allocation for its planned exports of thermal coal. This allocation matches the company’s forecast annual steady state production of export thermal coal from its Vlakvarkfontein, Vaalbank and Project X coal mines in the coming 18 to 24 months. So that is transportation sorted. Meanwhile, Andrew Macaulay and Bruce Buthelezi, chairman and managing director of the company, have combined with director Pete Landau to pull off a blinder as far as off-take is concerned.

As Bruce admits, the deal was a long time in the making, but EDF Energy, Europe’s leading electricity producer, agreed at the end of March to provide a US$20 million financing package for the development of these same mines in return for securing all production of thermal coal for export.  The funds will be repaid over five years from the sale of the coal, with the price based on market AP14 benchmark FOB Richards Bay for an initial period of 20 years. Vaalbank and Project X mines are expected to start production at a combined rate of 2.4 million tonnes per year in 2011, so that fits together very nicely and it is all being tied up on a big red bow with ContiCoal issuing 40 million options to EDF at A$0.05 each and another 40 million at A$0.10 cents each. The present share price is A$0.057, so EDF will not be exercising the options yet awhile, but when it does ContiCoal’s finances will benefit accordingly.  

As a result of this initial deal the company can complete on the acquisitions of its assets and get on with development. Only three weeks on, however, and it has agreed a similar deal for its Vlakplaats coal mine – same amount and repayable out of coal sales.  In no seconds flat Continental Coal has transformed itself from an also-ran into a leading South African junior coal company with first production only a month away. This has not yet been fully recognised in the share price, which has risen only modestly from the A$0.048 cents price they were trading at when the company requested suspension prior to these announcements. Maybe the current noise around coal is so loud that ContiCoal is struggling to make itself heard, or maybe Australian investors are worried about South African politics, or both. 

What they may have missed too is the additional US$27 million funding that has been agreed with a South African resource-focussed investment consortium. This is being delivered by way of a five year debt facility at 10 per cent interest, and will be used to pay off amounts outstanding under the company’s existing debt facility as well as to provide a top -up as required for completing acquisitions and for developing Vlakplaats. There is a fair degree of flexibility over repayments, as they can either be repaid out of cash flow over the five year period, or fully on maturity, or converted into equity on a basis which will have to be negotiated in advance. There is an indication here that the anonymous resource focused investment consortium could be part of a BEE plan, but a word with Bruce Buthelezi shows that this is not the case. ContiCoal’s BEE partner, with a 26 per cent stake, is Masawu Investments. Bruce points out that Masawu is effectively him and some friends. 

All the four coal mines involved in these off-take and financing deals are located in South Africa’s Central Basin, to the east of Johannesburg. This coal mining region accounts for 75 per cent of the country’s total coal resources, and 80 per cent of production. Vlakvarkfontein, Vlakplaats, Vaalbank and Project X lie within 70 kilometres of each other in the Witbank coalfield, where there are 60 opencast and underground collieries in operation. All of which means infrastructure is not a problem. Vlakvarkfontein, in which ContiCoal has a 60 per cent interest, is at the eastern edge of the coalfield and lies less than five kilometres from the Richards Bay rail line and 13 kilometres from Eskom’s Kendal Power Station. 

Vaalbank will be an underground bord and pillar single seam mining operation focussing on the # 4 Seam which averages 2.44 metres in thickness. Its neighbour, the Dorstfontein Colliery, is currently developing 40 million tonnes of resources along this same seam. ContiCoal is working on 75 million tonnes of resources which should give it a 30 year mine life and, like Vlakvarkfontein, it is double washing coal to product export thermal coal and domestic coal. The difference between the two mines is that the domestic coal is expected to sell at a slightly better price, which will push average revenue up to Rand 460 per tonne, compared with costs of Rand 341 per tonne. Vaalbank is only 10 kilometres south of Project X, which is right next door to the Richards Bay rail line and the Komati Power Station. Project X will also be an underground operation, similar to Vaalbank, focussed on the same two products and mining #2 Seam as well as #4 over a 20 year life. It is likely to come into production by the end of this year, several months earlier than Vaalbank. 

There are more mines in the offing, but the last of the four which have funding and off-takes in place is Vlakplaats, a project which is surrounded by others producing 7.4 million tonnes per year, mostly for the export market. Vlakplaats is going to be a combined open pit and underground mining operation  exploiting the same two seams as Vaalbank and Project X will exploit, but the difference is that Vlakplaats has resources of 122 million tonnes, which should keep it going for 50 years. It will produce mostly export A-grade thermal coal, meaning that this mine will probably be the star of the ContiCoal show when production starts at the end of 2011. By that time ContiCoal will be well on the way to its long-term production target of nine million tonnes per year. 

This is a company with a good story to tell, with an excellent portfolio of coal assets and an ambitious production profile in one of the world’s largest coal mining regions, where all the infrastructure is close to hand. It could not have a better BEE partner than its own founder and managing director, and he will be instrumental in further strategic acquisitions. The company now has to spread the story further afield and generate more attention from investors, lest a competitor make an opportunistic bid. Maybe a presentation at one of our Forums would get things moving, as the bullish case for thermal coal exported to China and India remains strong.


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## Boyou (22 April 2010)

Thanks for the detail ,drillinto.

Good to have some flesh to put on the bones of the company announcement.SP has not reflected what I (and many others) expected. Ho hum ..the market is a contrary beast.

It has been suggested on another forum ,that some investors are averse to South Africa's political climate and not too impressed by their inability to keep to schedules/ targets. 

Food for thought.


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## Boyou (10 May 2010)

In Suspension again..

Pending anouncement of (among other things) the appointment of a CEO .I have heard rumours of who it is,but won't post anything but the facts.

If the rumour is true ..it might give these the nudge they seem to be needing.We will know tomorrow...

Good luck to all holders


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## Boyou (31 May 2010)

A Milestone for CCC..

In Continental Coal's (ASX: CCC) transformation into a mid-tier coal producer, the first coal production blast occurred at 1.00pm (SA time) on Thursday 27 May 2010.

An initial parcel of raw coal will now be loaded and transported to local coal wash plants in the Witbank coal field to be washed and analysed.


Full story here:-

http://www.proactiveinvestors.com.a...-south-africas-newest-coal-producer-7522.html


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## Boyou (8 June 2010)

Conti Coal continues to release good news.Great to see they are keeping us well informed of developments.

ASX announcement re the Vlarvarkfontein mine. Also mentions the probable sale of their Vanmag Iron Ore lease..giving them $10,000,000 to advance other coal projects in the pipeline.

They are well on their way to becoming a mid tier producer..BUT ..still the SP languishes......... 

Read all about it.

http://www.aspectfinancial.com.au/d...2VzaWduYWwvZXJyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA


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## Boyou (15 July 2010)

Conti coal have taken a turn for the better,pleased to say 

A reccomendation in Diggers and Drillers and the impending sign off on funding from EDF has brought some much overdue attention 

Over 306 million traded today.

Hoot..hoot.


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## expertspiker (15 July 2010)

when will they finalise the EDF deal?  since april they have been saying it's coming soon but nothing has happened yet.  could this be a worrying sign, or just taking longer than expected?


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## Boyou (15 July 2010)

I wish i could give you a definitive answer on the EDF thing
However, I see a general upward trend in respect to Conti Coal meeting "expectations" 
Coal is being stockpiled and port/,rail access in place for initial shipments..CEO Don Turvey was specifically chosen for his South African connections and his prior experience with BHP 

Just be patient


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## ixalus (16 July 2010)

What do you guys think the chances are that this deal will fall through? I'm not sure CCC will be sustainable at the level it's at if the deal were to fall through.


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## Boyou (16 July 2010)

As I seem to be the only regular poster on this thread,it falls to me to answer.
But first tell me if you have done any research into their history and targets..or are you just jumping on the next big thing?

Sorry to be harsh ,but self help is the best help of all.

 I am a holder of these shares..


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## ixalus (16 July 2010)

I'll be honest, CCC was a recommended buy by a close mate. Been watching this stock for the past 4-6 months. I'm just a casual trader and do not perform any in-depth analysis on company data. The main things I look at is the financial health of the company. Are they to too highly geared? Their capital/cash reserves. The net profit etc... basic fundamentals of the company. My thought is, looking at the details already released, CCC has potential to grow as a company. But I'm in unfamiliar territories as I normally invest in blue chip shares for the long term. Only seeking some expert advice and knowledge.


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## MR CUBE (19 July 2010)

Looks as though holders are about to be rewarded an absolute hive of activity in recent days and now the expected trading halt.


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## Boyou (19 July 2010)

ixalus said:


> My thought is, looking at the details already released, CCC has potential to grow as a company. But I'm in unfamiliar territories as I normally invest in blue chip shares for the long term. Only seeking some expert advice and knowledge.




Looks like the EDF thing is happening  Trading halt will hopefully be short and sweet.

This is where the blue chips all started.


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## MR CUBE (19 July 2010)

Turvey is a great appointment.

Watch for him to bring another asset into the business sooner than later.


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## blackjack (21 July 2010)

Shares: CCC.AX has 1,140,000,000.00 shares of stock outstanding.

thats a lot

but getting in on the bottom floor might be rewarded


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## Boyou (23 July 2010)

Very pleased to see Conti start to move strongly north 

Diggers and Drillers rate the SP at 11.8 c.Finished the day at 6.8

Volumes are high and buyers are outnumbering sellers.

Bonne chance to all holders


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## pixel (29 July 2010)

Boyou said:


> Very pleased to see Conti start to move strongly north
> 
> Diggers and Drillers rate the SP at 11.8 c.Finished the day at 6.8
> 
> ...




She'll come out of a Trading Halt tomorrow. Heard some rumours about a 5.5c cap raising/ rights issue?
Wish I'd seen this thread on the 13th when MACD displayed a strong Bullish Divergence and rising volume


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## drillinto (4 August 2010)

August 03, 2010

Continental Coal Is On The Cusp Of A Merger That Will Create A South African Coal Company Of Real Substance
By Our Man in Oz

All eyes will be on Continental Coal over the next few days, as the company’s management finalises what it describes as a “significant” acquisition, and a few well-tuned ears already appear to have picked up snippets of information about the deal.

To read the full article please visit:
www.minesite.com/aus.html [The registration is free]


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## champ2003 (4 August 2010)

drillinto said:


> August 03, 2010
> 
> Continental Coal Is On The Cusp Of A Merger That Will Create A South African Coal Company Of Real Substance
> By Our Man in Oz
> ...




What a great company making announcement today. As far as rumours go with a SPP at 5.5 cents well it wouldn't surprise me to see a SPP issued at a much higher price than 5.5 cents otherwise CCC would have already announced the issue price??? I'd say that a SPP will come out at a much higher price at some stage over the next few days???


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## pixel (4 August 2010)

champ2003 said:


> What a great company making announcement today. As far as rumours go with a SPP at 5.5 cents well it wouldn't surprise me to see a SPP issued at a much higher price than 5.5 cents otherwise CCC would have already announced the issue price??? I'd say that a SPP will come out at a much higher price at some stage over the next few days???




I'm quite sure the 5.5c is home and hosed. (see today's announcement page 5 "Share Purchase Plan")
Unfortunately, only holders BEFORE the suspension will benefit from that. Johhny-cum-lately has to be happy with today's crumbs. I won't complain though - got in early, traded a few quick swings, and am now sitting on a nice little parcel for keeps.


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## Boyou (4 August 2010)

Thanks for the Minesite article ,drillinto.

Very gratifying to see this news.The assets now at the companies disposal signifigantly re-rate them and the lift in SP ,finally, reflects the quality.

Bit worried about the number of shares on issue ,once the SPP goes through..talk about luiqidity! 
However,I am eligble for some of those at 5.5..and I will grab them. 

Happy times........


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## Call & Put (9 August 2010)

Hi everyone,
Work it out everyone? Look at the news and there projected income with 2 billion shares including options and we have a .21 cents a share in my book? I did the maths. Looking to pick some up tomorrow when the 200,000,000 share get released to market and looking for some softness to pick up a million or 2 and ride the wave in for christmas Sounds like plenty more good news to follow with all the news they plan on giving us, as said in there statements last week?


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## Call & Put (9 August 2010)

Boyou said:


> Thanks for the Minesite article ,drillinto.
> 
> Very gratifying to see this news.The assets now at the companies disposal signifigantly re-rate them and the lift in SP ,finally, reflects the quality.
> 
> ...




They say you can buy upto $15,000 worth at .055cents but if all 4000 share holders take up there allocation of only $11,000,000, my maths tells me you may only be able to pick up $2750 worth? So don't be disappointed?
The first 200,000,000 shares are due out approx tomorrow and the SPP due in middle of September. So even with all the SPP and funding going on the shares should be worth .21 cents today based on my calculations even taking into account the outstanding options due in 2013.


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## Joe Blow (10 August 2010)

Call & Put said:


> So even with all the SPP and funding going on the shares should be worth .21 cents today based on my calculations even taking into account the outstanding options due in 2013.




Call & Put,

Could you please elaborate on these calculations that you claim value CCC at $0.21c. I'm sure those reading this thread would appreciate further detail.


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## Boyou (11 August 2010)

No doubt the SPP will be well oversubscribed,but,for the short term, it is going to put downward pressure on the SP.

All that excess liquidity has to be soaked up by longer term holders before a steady rise can be seen.At the moment it is a traders paradise 

Conti has moved very fast in the last few months.Their acquisitions give them "big player " potential .I, for one, am happy to sit and wait for any rise in price.The value is already there.


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## eddyeagle (12 August 2010)

Have people received their SPP stuff yet in the mail? I am still waiting to receive it... 

I reckon CCC will be extremely volatile in the short term, but I am happy to put this one away for the future...


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## Chargin8 (26 August 2010)

I heard about this company on a share newsletter I get. It was recommended a few weeks ago at about 6.4c. I see its dropped to 5.8c recently, any reason for the drop?
Its a good buy at this price Im hoping?


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## skivvy (31 August 2010)

Chargin8, I dont see any reason fundamentally speaking why CCC is not a good buy at this level.  The recent purchase of coal assets, the increase in the sale of coal and the offtake agreement with EDF and all good reasons to be happy to hold on.  CCC have a good management team with alot of experience in South Africa.
My take is, this recent pullback is due to the impacts of the broader market and the fact that small cap stocks get hit hardest in a negative market.  Technically, support is around the current price of 5.8c and from where I sit a good a spot as any to grab a position in this company.  Like everything else the market sentiment will hold back most stocks and with no positive news flowing into the market the traders lose patience and sell out.

Do your own research and good luck.  I currently hold CCC.


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## malcolml (15 September 2010)

*[CCC]Continental Coal Limited*

I have purchased CCC at 0.055 per share about two month ago, and just last week I increased my holding at the same price through a SPP by the company. The price per share is 0.62 as of today's closing price which is strongly in my favor, apart from that the past price history has also been very satisifying.

If I sell now I will be looking at least 11% growth in just two month, but I am also looking at the mining operation of CCC in next year. Any CCC shareholders or other people who would like to share their opinion?


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## laurie (16 September 2010)

Well lets put it in another way at least the MRRT will not have any effect on the share price and so no Australian Tax which many coal producers in Australia have to bear or should I say shareholders 

laurie


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## springhill (16 September 2010)

laurie said:


> Well lets put it in another way at least the MRRT will not have any effect on the share price and so no Australian Tax which many coal producers in Australia have to bear or should I say shareholders
> 
> laurie




I don't disagree with this at all, i have a NZ based coal interest which has prospered nicely in the last week since Labor forming Govt, IMO no small part due to the MRRT. Am looking hard and fast for coal explorers overseas to capitalise where the opportunity presents.
To be honest theoretically i do like the look of CCC, but has far too many shares on issue for my style of investment.
Best of luck to you laurie


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## laurie (16 September 2010)

springhill said:


> I don't disagree with this at all, i have a NZ based coal interest which has prospered nicely in the last week since Labor forming Govt, IMO no small part due to the MRRT. Am looking hard and fast for coal explorers overseas to capitalise where the opportunity presents.
> To be honest theoretically i do like the look of CCC, but has far too many shares on issue for my style of investment.
> Best of luck to you laurie




Thanks mate yeah totally agree with you CCC investment is like playing Russian Roulette unless of course they do a consolidation when production starts 

laurie


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## ParleVouFrancois (16 September 2010)

Laurie or springhill could you please explain as to why a company having more shares is a negative thing "too many shares therefore not my style of investment"?

"Thanks mate yeah totally agree with you CCC investment is like playing Russian Roulette unless of course they do a consolidation when production starts"

If they do a consolidation no net shareholder wealth is created or destroyed? Please explain as to why you think it'll be a better investment after consolidation.

E.g. 

CCC now "Russian Roulette"

CCC after a hypothetical consolidation "Not Russian Roulette"

I'm lost as to why you'd think such a thing.


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## potchip (16 September 2010)

The only problem with penny stock price is it prevents some institutions from participating due to their own rules not allowing purchase of shares less than a certain dollar value.

If the current business plan is sustained, CCC is moving towards a mid-cap, which will put it on some institute's radar.


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## springhill (16 September 2010)

ParleVouFrancois said:


> Laurie or springhill could you please explain as to why a company having more shares is a negative thing "too many shares therefore not my style of investment"?
> 
> "Thanks mate yeah totally agree with you CCC investment is like playing Russian Roulette unless of course they do a consolidation when production starts"
> 
> ...




Hi ParleVouFrancois, i'm not necessarily saying it's a bad thing, i'm just saying high share issued companies do not meet my criteria for an investment.
I'm not against share consolidations, one that i hold has this process in the pipeline and i won't be selling because of it.
Each to their own, that's just how i see it.
I have highlighted my thoughts in the thread below.

https://www.aussiestockforums.com/forums/showthread.php?t=20144&highlight=liquidity


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## laurie (18 September 2010)

ParleVouFrancois

A lot of shares is good for market cap of a company but causes lower share price as there are a lot of shares around...



If they do a consolidation no net shareholder wealth is created or destroyed? Please explain as to why you think it'll be a better investment after consolidation.                                                                                                                                                                                  

 because say at .06c and they do a 1:10 and have a billion shares on issue then it becomes 60c  and 100M shares then the theory is they become harder to get as most of the top 20 holders will have the most shares so the price should increase when trying to buy 

laurie


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## djones (13 October 2010)

*Continental Coal Receives Final Approval For Mashala Resources Acquisition

October 13, 2010*

Continental Coal (ASX: CCC) moves one step closer to developing into a mid-tier Southern African coal producer with the final necessary approval from the South African Department of Minerals and Resources to acquire Mashala Resources, through African subsidiary Continental Coal Limited.

The acquisition provides Continental with immediate export coal production from the Ferreira open cast mine which exported approximately 600,000 tonnes during financial year 2009.

Of major importance to move the coal, Mashala has Richards Bay Coal Terminal (RBCT) allocations and Transnet Freight Rail contracts in place, boosting key logistical capabilities.

Mashala has a 300tph wash plant operation and rail siding only 3km from the existing Ferreira open cast mine and Penumbra underground project, where Continental is looking to immediately commence works designed to develop this project into a 500,000tpa export thermal coal operation.

Under sale terms executed on 15 September 2010, Continental will acquire a 64.1% shareholding in Mashala for a cash payment of US$35 million.

The balance is to be acquired on same terms within 12 months of settlement date.

A massive 6.6 Bt exploration target has been identified at the Mashala Coal Project, in Botswana, with 2.7Bt at a shallow to moderate depth, confirmed by independent South African consulting geologists Gemecs.

http://www.proactiveinvestors.com.a...-for-mashala-resources-acquisition-10768.html


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## ParleVouFrancois (13 October 2010)

Hi Laurie I read your post about share consolidation, I fail to see how it effects anything but perception about a share. E.g. 6 cents per share psychologically seems 'worse' than 60 cents, but if the ratio is maintained, e.g. 10 times the amount of shares for the 6 cent level, then there is no difference in value. Market cap is the same, and market cap is one of the most vital parts of valuing a business.

Also as highlighted by a different poster, some funds have rules that include share price, e.g. the managers can't buy any shares of a company if they trade below 1$ or some other arbitary figure.

Primarily the difference between a share before and after consolidation is psychological, the business is exactly the same, just some instos have rules prohibiting investment, thus if a share consolidation would take place I see no real negative impacts on the value of the company (besides the admin costs to perform the consolidation).


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## djones (13 October 2010)

254 million shares traded today, $19.2 million....

Thats a big chunk of the companies shares traded!!


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## jeffTH (13 October 2010)

djones said:


> 254 million shares traded today, $19.2 million....
> 
> Thats a big chunk of the companies shares traded!!




Don't forget with very active day traders some of those shares may have been traded 3 or 4 times.  As a proportion of the company's shares it may be less.

But anyway go CCC!!!


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## cassawary2 (14 October 2010)

*Continental Coal trading halt*

A little learning for a new boy on the block.  Why does CCC show 324 000,000 odd share volume today when in a trading halt?

Been watching (with a few shares) with interest and announcement to ASX today is going to be positive. 

Look forward to your comments


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## adobee (19 October 2010)

CCC to reopen this morning.. should be rather interesting.. 
lot of speculation on this one ..


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## UBIQUITOUS (20 October 2010)

adobee said:


> CCC to reopen this morning.. should be rather interesting..
> lot of speculation on this one ..




I'm surprised that this company didn't run further. For a company that is cf+, in production, gargantuan resources, ex BHP management, $61m capital raised, and with a 20 year offtake agreement - surely this company deserves to be rerated to multiples of it's current $250m fully diluted market cap. I read that Whitehaven have less of a potential resource and are valued at 50x CCC. 

It can only be a matter of days - once Mashala is finalised, i think the rerating will happen.


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## djones (20 October 2010)

UBIQUITOUS said:


> I'm surprised that this company didn't run further. For a company that is cf+, in production, gargantuan resources, ex BHP management, $61m capital raised, and with a 20 year offtake agreement - surely this company deserves to be rerated to multiples of it's current $250m fully diluted market cap. I read that Whitehaven have less of a potential resource and are valued at 50x CCC.
> 
> It can only be a matter of days - once Mashala is finalised, i think the rerating will happen.




Technically by staying the same or slightly increasing despite dilution it did run a bit. Will be an interesting day today!


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## UBIQUITOUS (28 October 2010)

A 12c broker valuation came out yesterday. The current share price is 7.4c. 
12c is not quite the 25c-30c valuation that CCC itself values the company at, but its a good start.

What is interesting about the 12c valuation is that the research report leaves out several of the projects from the calculation, especially the 6.6bt Botswanan coal field.


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## pedalofogus (28 October 2010)

UBIQUITOUS said:


> A 12c broker valuation came out yesterday. The current share price is 7.4c.
> 12c is not quite the 25c-30c valuation that CCC itself values the company at, but its a good start.
> 
> What is interesting about the 12c valuation is that the research report leaves out several of the projects from the calculation, especially the 6.6bt Botswanan coal field.




It's good to see this company starting to get some broker coverage.  Personally i think 12c is quite conservative.  Even though most companies value themselves higher than everyone else, i think CCC's self valuation of 25 cents is pretty fair.


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## UBIQUITOUS (16 November 2010)

It's good. Very good! Continental Coal is now a producer. It's something many juniors can only dream off!



> CONTINENTAL BECOMES SOUTH AFRICAN EXPORT COAL PRODUCER
> Completes financial settlement of US$35M Mashala Resources acquisition as first drawdown of
> EDF Trading US$20M “coal loan” occurs and first export coal railed to Richards Bay
> Key Points:
> ...


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## adobee (16 November 2010)

Still surprised to see this hasnt had a huge run.. I am not sure if it just hasnt had the interest of an institutions or if people dont believe the storey ...
Seems to still be valued as an explorer rather than produced with 20year off take agreement ????


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## lzen5 (19 November 2010)

Its looks like CCC is paying out their management team through options, potentially very dilutive. Havent gone through their books that well. A bit of a blind stab on this one.


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## lzen5 (19 November 2010)

is CCC actually turning a profit at the moment? what is the release date for its next audited ER?


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## ParleVouFrancois (19 November 2010)

Izen, considering that the options that they've recently issued to management (and that you've highlighted as "potentially dilutive") is about 2.5% of the total already issued, I don't think it'd effect the end value of CCC all that much.

CCC is cashflow positive atm, not too sure as for the amount, but definitely cashflow positive. You shouldn't rely so much on "profit", as this can be manipulated much easier than the cashflow figures (still manipulatiable, but less so).


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## adobee (19 November 2010)

CCC is really under the raidar.. price has hardly moved on the change form explorer to producer ..  will keep buying up low 7c range.. just a matter of time till some investors and the market catches onto it..


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## pixel (19 November 2010)

adobee said:


> CCC is really under the raidar.. price has hardly moved on the change form explorer to producer ..  will keep buying up low 7c range.. just a matter of time till some investors and the market catches onto it..




Shhh! Don't tell anybody! 
I'm with you. Also check out CCCO = 5c by February 2013. They're still trading as if the heads couldn't get above 10c within the next 2 years.


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## slow_trader (19 November 2010)

adobee said:


> CCC is really under the raidar.. price has hardly moved on the change form explorer to producer ..  will keep buying up low 7c range.. just a matter of time till some investors and the market catches onto it..




With the recent announcement of becoming coal producers and having contracts to buy coal produced why would the SP remain steady?  On the surface this looks like positive news for the company so I am surprised that the market has not acknowledged this.


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## UBIQUITOUS (20 November 2010)

pixel said:


> Shhh! Don't tell anybody!
> I'm with you. Also check out CCCO = 5c by February 2013. They're still trading as if the heads couldn't get above 10c within the next 2 years.




Pixel, I only hold CCCOs and lots of them. The leverage offered is tremendous considering the company is derisked to  such a degree. Now that the DeWittekrans complex will begin to be developed, there will be a marked improvement in the 2 broker valuations due at the end of the month. 

Gradually the public, partly thanks to the CNBC and Bloomberg adverts, are becoming aware that this a major producer (2mtpa) and not an explorer.


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## optic (20 November 2010)

The 2 broker reports expected next week should help. Also expect a significant holder notice too.

It's only a matter of time before CCC moves IMO.


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## prawn_86 (23 November 2010)

So a few back of the envelope calculations from me:

Current Production - 
Vlak: 1.7mtpa @ $5PT = $8.5m pa
Fer: 180ktpa domestic @ $3pt + 450ktpa export @ $20pt = $9.5m pa

Incoming (by 2012) production - 
Penum: 500ktpa export @ $30pt = $15m pa
De Witt: 2mtpa domestic @ $5 + 3mtpa export @ $30 = $100m pa



Current MC circa 250m including optionsso trading at PE of 13 based on current production or PE of just 1.8 based on future production.

Disclaimer is these $ figures come from presentaion stating "margins" so i dont know if that is nett or gross margins.

Anything else im missing?


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## adobee (25 November 2010)

Only thing missing is the reason why the market isnt believing this storey ? 
And why they need to advertise on tv to try and get noticed ?


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## adobee (26 November 2010)

$110m market cap for a producer seems very cheap ..
They will have cashflow  ??!?

Still cant figure this one out ..


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## prawn_86 (26 November 2010)

adobee said:


> $110m market cap for a producer seems very cheap ..
> They will have cashflow  ??!?
> 
> Still cant figure this one out ..




The sums i did showed a MC of around 200 - 250m depending on if you include the options.

WHere did you get 110m from?


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## adobee (26 November 2010)

Straight from my broker research.. not sure if it takes into account the options ?


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## prawn_86 (26 November 2010)

adobee said:


> Straight from my broker research.. not sure if it takes into account the options ?




And possibly not the new shares issued either. As my broker shows circa 100m also, but according to the companies latest presentation their MC is just above 200m


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## laurie (26 November 2010)

With approx 2.2Billion shares on issue that may be a bit dilutive for some and may well be holding back the sp so IMHO a 5:1 consolidation will move the price up that will bring it back down to approx 400M shares on issue and hopefully .35c per share it did wonders for EXT 

laurie


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## pixel (27 November 2010)

laurie said:


> With approx 2.2Billion shares on issue that may be a bit dilutive for some and may well be holding back the sp so IMHO a 5:1 consolidation will move the price up that will bring it back down to approx 400M shares on issue and hopefully .35c per share it did wonders for EXT
> 
> laurie




Hi Laurie,
I may be missing some options. The sums I get from my Fundamental data table are -
1,655,951,767 shares CCC
   312,500,006 options CCCO, adding up to
1,968,451,773 total shares after exercise.

Close to your figures, and they should indeed consider a consolidation to lose that "penny dreadful" label. (Unless the directors enjoy that tag


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## laurie (28 November 2010)

pixel said:


> Hi Laurie,
> I may be missing some options. The sums I get from my Fundamental data table are -
> 1,655,951,767 shares CCC
> 312,500,006 options CCCO, adding up to
> ...




Near enough I think there is some employees options to be included the point I was trying to make is to have consolidation at some point in time

laurie


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## prawn_86 (28 November 2010)

I think a consolidation would also help. How would it go with CCCO though? Just move the strike price as per the consolidation figures?


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## kgee (28 November 2010)

Just a general question...I don't have much experience with consolidations.
Years back I was on ARH when  they did a consolidation and if I remember correctly they went into a trading halt for a couple of months b4 it was all sorted out.
Anyone have any guesses or experiences as to how long this usually takes?


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## prawn_86 (29 November 2010)

kgee said:


> Anyone have any guesses or experiences as to how long this usually takes?




If it is properly planned then it happens without a hitch. Co will notify ASX and holders then on the set date they will trade at consolidated price


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## adobee (13 December 2010)

wow this just isnt getting any traction for a producer...  I am really surprised by this, I will buy what I can below 7c...  has to be just a matter of time.. coal is becoming super hot at the moment..


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## adobee (13 December 2010)

http://www.edisoninvestmentresearch.co.uk/research

14c val from edison investments...
Would have like a bit of a higher val to get it moving.. but still going backwards...


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## UBIQUITOUS (13 December 2010)

adobee said:


> http://www.edisoninvestmentresearch.co.uk/research
> 
> 14c val from edison investments...
> Would have like a bit of a higher val to get it moving.. but still going backwards...




I agree Adobe. It is very strange indeed. It's like CCC are trying all that they can to get the price moving. Somebody posted this on another forum, and I wouldn't be surprised if it is by CCC.

http://conticoalers.com/

The Edison report seems to be a little conservative. Let's hope we get an upgrade soon


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## Miner (13 December 2010)

UBIQUITOUS said:


> I agree Adobe. It is very strange indeed. It's like CCC are trying all that they can to get the price moving. Somebody posted this on another forum, and I wouldn't be surprised if it is by CCC.
> 
> http://conticoalers.com/
> 
> The Edison report seems to be a little conservative. Let's hope we get an upgrade soon




good reference site and interesting information on the site and in this thread about consolidation.

some times companies split (like FMG) for spread and some times they consolidate like CCC as suggested here. I am confused any way on the  impact on the holders.

disclaimer - a holder


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## indeck (14 December 2010)

i've been on the sidelines with this stock but might put in a spec buy in the lower 6's if it gets that far down.  broker recommendation isnt stellar but i'll probably take a punt.


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## kgee (15 December 2010)

Today ended with a common doji...looking over the charts the last 3 months it seems everytime this happens the price goes up the next day.
Surely they're due for a good day


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## adobee (16 December 2010)

considering the money they are spending on pumping it .. tv advertisement, broker reports etc.. i think they would be better off if the directors just started buying some shares on market.. it might inspire some confidence as at the moment it appears there is none..


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## pixel (16 December 2010)

adobee said:


> considering the money they are spending on pumping it .. tv advertisement, broker reports etc.. i think they would be better off if the directors just started buying some shares on market.. it might inspire some confidence as at the moment it appears there is none..




Just out: 
MININGMAVEN “MINES, CAMERA, ACTION!” VIDEO INTERVIEW RELEASED

meanwhile, the sp slips lower and lower - 6.5c at latest checkpoint


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## Miner (16 December 2010)

pixel said:


> Just out:
> MININGMAVEN “MINES, CAMERA, ACTION!” VIDEO INTERVIEW RELEASED
> 
> meanwhile, the sp slips lower and lower - 6.5c at latest checkpoint




Probably the video not being X or R rated, did not appeal the investors 

Jokes apart  I would ask if the interview was made much earlier why they did not publish the transcript earlier (I have not checked however if they did publish0.

small holder and patiently waiting to reenter on correction or next dip below 6 cents. Not enough money to buy now


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## prawn_86 (20 December 2010)

Ann out today stating that Penumbra mining has been approved and they hope to have it going by this time next yr. This will be their third operating mine for a co with a market cap under $300m diluted


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## noirua (3 January 2011)

CCC's CEO is quoted in 'Minesite' UK 14/12/2010 that the company is to obtain a quote on London's AIM market to raise US$30 million in the float. Coal mining in South Africa can be tough as CoAl of Africa ASX:CZA found - looking good are CCC but very high risk on politics and a bit of anarchy in out to stop coal mining terms.


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## UBIQUITOUS (3 January 2011)

noirua said:


> CCC's CEO is quoted in 'Minesite' UK 14/12/2010 that the company is to obtain a quote on London's AIM market to raise US$30 million in the float. Coal mining in South Africa can be tough as CoAl of Africa ASX:CZA found - looking good are CCC but very high risk on politics and a bit of anarchy in out to stop coal mining terms.




Just to correct you and update you:

1. CCC is not listing on AIM to raise money. They are listing on AIM for global exposure reasons. Whether they raise money or not is currently unknown.
2. CZA had environmental issues over one of their projects. Try drilling for oil in the Barrier Reef and you'd experience greater resistence.
3. SA as of last week joined BRIC. This puts paid to any chances of mine nationalisation.

http://www.atimes.com/atimes/China/MA04Ad02.html


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## noirua (4 January 2011)

UBIQUITOUS said:


> Just to correct you and update you:
> 
> 1. CCC is not listing on AIM to raise money. They are listing on AIM for global exposure reasons. Whether they raise money or not is currently unknown.
> 2. CZA had environmental issues over one of their projects. Try drilling for oil in the Barrier Reef and you'd experience greater resistence.
> ...




CCC have announced that they will be floating on the UK AIM market in the first half of 2011 and will issue new shares to raise $30 million. [the main blog site on CCC states they can be retained in a UK ISA and of course SIPP, which is good news]
http://www.minesite.com/nc/minews/s...-month-in-london-as-a-uk-listing-looms/1.html


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## snowking (6 January 2011)

strong move today closing at 8.4 cents, up nearly 12%. Looks like some big players are making a move, there are some pretty big parcels going through on the buy side. Hopefully more to come.


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## easylikesunday (6 January 2011)

188 million shares traded today. Managed to break out of a decending triangle which wasn't looking promising!

Edison have valued this one at .14c which I dont think included the Botswana project, which is surrounding a project from Asenjo Energy.

From their website Ansejo are producing around 2.35 billion tonnes of coal at this area! 

More here, incl. pictures (http://conticoalers.com/2010/12/20/meet-the-neighbour/)


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## UBIQUITOUS (6 January 2011)

noirua said:


> CCC have announced that they will be floating on the UK AIM market in the first half of 2011 and will issue new shares to raise $30 million. [the main blog site on CCC states they can be retained in a UK ISA and of course SIPP, which is good news]
> http://www.minesite.com/nc/minews/s...-month-in-london-as-a-uk-listing-looms/1.html




Not true if you phone the company. No shares to be issued on AIM is what they are saying. We'll have to see. The market is speaking today and doesn't seem to mind either way.


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## adobee (7 January 2011)

looks like some sense is prevailing.. still in need of big re-rating unless there is something everyone else knows apart from me ..


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## drillinto (8 January 2011)

CCC - Continental Coal Ltd.

Candlestick Analysis - The Weekly Commentary
http://www.aussiebulls.com/weekly/StockPage.asp?CompanyTicker=CCC.AX&MarketTicker=Australian&Typ=S


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## prawn_86 (9 February 2011)

Quarterly came out last week. Aside from the usual progression of export sales and BFS of next mine the 2 main points i noted were:
1. Debt to be fully paid down by end of this quarter, with only about 5m remainging at the moment
2. Have been approached for an AIM listing before end of June. If this goes ahead perhaps that will provide the re-rating we are waiting for


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## indeck (9 February 2011)

ccc definately has run out of steam the last few weeks which is a bit of a shame


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## prawn_86 (21 February 2011)

Not a lot of love either here or by the general market.

Unless i'm missing something it's just a matter of time before the value is realised. I've given myself a 3 yr timeframe for this one and by then they should be making profits...


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## Miner (22 February 2011)

CCC was recommended and appears to be good value with production on.
But I am not understanding how come the SP going south constantly.
Is there something not available in the public domain ?
What was the falacy of secondary raising clean up either ?
Just asking in the forum if any one please shed some light.


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## Miner (1 March 2011)

TODAY CCC announced its interim result.
Before the result was published the share price went north.
But I do not get it. 
Revenue gone up by 1000% and profit dived down by more than 100%.
what should be the level of inefficiency to get such result  ?
what will happen when the revenue goes down then profit will further go down
How the market is going to react tomorrow ? 
How could so many pundits recommend this as a buy ?

http://www.asx.com.au/asxpdf/20110228/pdf/41x47xjwm1h2cp.pdf


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## prawn_86 (1 March 2011)

Have only just looked over it briefly, but profit is down due to acquisitions and costs of getting the new mines up and running.

A couple of things that grab my interest as to why they are so high:

1. Cost of Sales is slightly more than revenue income  Included in this is 4m worth of 'bought in coal', what exactly are the referring to here??
2. 10m worth of consulting costs. Seems very high to me despite the takeovers that happened this year


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## easylikesunday (9 March 2011)

CCC seems to be stuck in a 'run & retrace' trend. 3 almost identical runs and then retraces over the last 6-7 months. I noticed the Stochastics and Twiggs are sitting in virtually identical positions before each run.

IF we do get a repeat of the past 3 trends then we may see a run to 9.5 - 9.8 at the start of April. 

Then again, maybe not.

I just like playing with my charts


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## Slipperz (9 March 2011)

easylikesunday said:


> CCC seems to be stuck in a 'run & retrace' trend. 3 almost identical runs and then retraces over the last 6-7 months. I noticed the Stochastics and Twiggs are sitting in virtually identical positions before each run.
> 
> IF we do get a repeat of the past 3 trends then we may see a run to 9.5 - 9.8 at the start of April.
> 
> ...




Worryingly it has broken through long term support at 6.5 and the rising trendline.

Markets being as they are atm looks like an each way bet for Friday. Might be worth a look next week if it can break the downtrend ( all IMHO of course)


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## prawn_86 (18 April 2011)

Update out today.

Co has exported 129k tonnes at and average price of $121 per tonne. *This is close to 16m worth of incoming cashflow this quarter.* Also sold 200k tonnes domestically, which is another $1m at worst case pricing.The update doesnt provide anything about costs though unfortunately. 

Next mine is project to start mining Q1 2012 ramping up to full capacity by Q3 2010


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## pixel (16 May 2011)

prawn_86 said:


> Update out today.
> 
> Co has exported 129k tonnes at and average price of $121 per tonne. *This is close to 16m worth of incoming cashflow this quarter.* Also sold 200k tonnes domestically, which is another $1m at worst case pricing.The update doesnt provide anything about costs though unfortunately.
> 
> Next mine is project to start mining Q1 2012 ramping up to full capacity by Q3 2010



 Another update today: 
Following the issue of OTC ADRs in the US, a US trading house has commenced coverage and published a new report.


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## vimuttirasa (16 May 2011)

Link to MW report

Highlights from the report:

"Continental Coal is strategically well positioned to benefit from continuing growth in coal demand in China, India and other developing Asian economies. Recent initiatives, particularly the acquisition of Mashala in September of 2010, should catapult the company to mid-tier coal company status in South Africa. Due to Continental’s solid resource base (of over 600 Mt) and demonstrated ability to access necessary rail and port infrastructure for thermal coal exports, we believe the company is poised to ramp up production substantially. Management is targeting production of 7 Mtpa by 2012, up from an existing 2 Mtpa of capacity.

“Nonetheless, we have modeled relatively more conservative operating and financial assumptions. We do note that macro tailwinds such as continuing pricing momentum should be an incremental plus. We view Continental’s relationship with EDF as strategic and beneficial. Domestically, we expect Eskom’s pricing structure to improve in the coming years although we do expect less near-term clarity. We expect 2012 EBITDA to turn positive (despite high capex needs) and to expand meaningfully in 2013. Our rating of Accumulate and 12-month price target of A$0.09 are based on a discounted cash flow valuation and NAV analysis. While we believe the longer-term upside is significant given EBITDA ramp-up potential and positive coal macro fundamentals, we continue to monitor resolution of macro issues (infrastructure, domestic pricing, regulatory issues) as well as successful execution on the two upcoming mining projects (Penumbra and De Wittekrans)."

Recent M&A transaction confirm implied valuation. Recent M&A transactions highlight the value of Continental’s asset base. On May 4, 2011 Optimum Coal (OPT SJ, ZAR 29.00, Not Rated) announced a deal to pay ZAR 420 million in cash for Umcebo Mining’s two prospecting rights containing an in-situ coal resource of about 120 Mt of thermal coal. At the implied resource value of US$0.52/t, we calculate a resource-based per share value of CCC shares at A$0.08. As Continental unlocks the value of its extensive resource base and ramps up EBITDA, we would expect the share price to more clearly reflect the underlying value of the company’s assets.” p. 26 MW report

also some coverage on Proactive Investors Australia today:

Continental Coal receives bullish 12 month target from US Investment Bank Madison Williams


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## Miner (21 June 2011)

Right or wrong - sold CCC at a loss after holding for a significant time.
Dealers and Diggers have also stated in their update that CCC is no more  a darling for them and has reached Sell figure. Ironically the shares dived two points once the report came today.
In core of my heart I think CCC is a charm but my head said - sell it 

It will be only the outcome of Government of Botswana and its plan to see better days for CCC.


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## vimuttirasa (21 June 2011)

*ASX:CCC - Open Briefing Interview with Jason Brewer*

Jason Brewer discusses FY12 ROM production targets for Vlakvarkfontein and Ferreira mines, the Penumbra Coal Project development commencing and maiden reserves statement & AIM listing and new BEE partner

Open Briefing interview:
Continental Coal recently announced that in May 2011 both the Vlakvarkfontein (CCC 44.4%) and Ferreira (CCC 74.0%) thermal coal mines exceeded their monthly production targets, with total run-of-mine (ROM) production from both mines now expected to exceed 500,000 tonnes in the June 2011 quarter. This compares with total ROM production of 318,800 tonnes in the March 2011 quarter. How was the higher than expected ramp-up in production achieved and what is the outlook for ROM coal production from the Vlakvarkfontein and Ferreira mines over FY12?

Executive Director Jason Brewer

The record ROM production in May 2011 was particularly encouraging for the Company as we’ll now book our fifth successive quarter of increased ROM production from our South African thermal coal operations. This result is due to our operational management team’s continued focus on optimising the existing opencast operations at Vlakvarkfontein and Ferreira and our strong and clearly successful relationship with our mining contractors at both operations.

The Vlakvarkfontein mine is a very conventional opencast mining operation with a low strip ratio. After a prolonged period of ramping up production and having secured land access over the majority of the project area, we are in a fortunate position of having established a large open pit operating area. This gives us significant flexibility in our mining operations both in terms of scale of operations, increasing production rates and the actual coal qualities we can target and extract.

The Ferreira mine is a far more challenging mine than the Vlakvarkfontein mine. In November 2010, following Continental assuming operating control of the Ferreira mine, management made two very significant operating decisions, with the appointment of a new mining contractor and the commencement of the new southern opencast mine. The increases in production achieved since November are very pleasing with the mine now exceeding the targeted production we set at that time. Our new mining contractor at the Ferreira mine is performing very well and we believe that the operation has a lot more to offer over the next 12 months.

Going forward we are confident that quarterly ROM production targets of 465,000 tonnes can be achieved in FY12.
Development of the Penumbra Coal Project (CCC 74.0% post acquisition of the 35.9% balance of interest in Mashala Resources) is scheduled to commence shortly, following a delay to its initially expected February 2011 start. Can you provide some further background on the project, as well as the main project milestones ahead of achieving full production, currently targeted for the first quarter of 2012?

Executive Director Jason Brewer

The development of the Penumbra Coal Project is the Company’s key priority. Its development is critical in demonstrating to not only our shareholders but also potential institutional investors that we are on our path of achieving our targeted ROM production rate of 7 million tonnes per annum (Mtpa) in the next 18 months.

We are confident that development of the Penumbra Project will successfully ramp up over July 2011 following the Company attending to mine operation optimisation and unavoidable delays due to changes in the operating environment affecting new coal operations in South Africa. First production is expected to be achieved early in the first quarter of 2012.

The Company appointed consultants in December 2010 to both manage and complete the construction and commissioning work at the Penumbra Coal Project, including surface site construction, civil and earth works, pollution and co-disposal dams, electrical supply, decline development and procurement of all the underground machinery. During March 2011 further detailed engineering and optimisation work on the project was completed ahead of a planned commencement of site works. As a result of this work the Company made the decision to relocate the shaft portal excavation and initial decline development site. This required an amendment to be made and Governmental approvals to the Company’s existing permits and development plans. It also initiated a period of additional consultation with local landowners and other nearby affected parties.

As our shareholders are aware, operating in South Africa has its rewards as well as its challenges, and increasingly over the past 12 months, the Company has become aware of an increased focus by environmental groups and non-governmental groups on both new mine development and current mining operations. Many of our peers in South Africa have indeed experienced this first hand, with delays in permitting and restrictions on operations and development activities.

As a company, we need to demonstrate and ensure that at all times we are applying industry best practices and not exposing the Company and its shareholders to any unfounded or unnecessary criticism or unwarranted public attention that may impact our ability to operate as a good corporate citizen in South Africa. To this end the Company will continue to engage with all governmental departments and affected stakeholders to ensure we maintain an exceptional operating record, continued compliance and ongoing improvement at each of our operations. This may at times result in extended timelines and potential delays but the Company believes this will in the long term enhance our position with the various South African governmental departments and stakeholders in our projects to allow us to gain their full and ongoing support.

It is important to put the four month delay into perspective. The Penumbra Mine is scheduled to produce 900,000 tonnes per annum (tpa) of ROM production over an initial 10 year mine life. Only last week we announced an increased resource for the project of 68.3 million tonnes (Mt) an increase from the 25 Mt previously reported which should (upon further feasibility work) lead to a substantial increase of the initial mine life.


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## vimuttirasa (21 June 2011)

part 2:

openbriefing.com

Continental Coal recently announced an updated reserves and resources assessment for its South African projects, including a maiden reserve statement for the Vlakvarkfontein and Ferreira mines and Penumbra Coal Project. What are the key results from this update?

Executive Director Jason Brewer

This report is by far the most definitive review completed over the projects we manage in South Africa since we acquired our initial interests in many of these projects and acquired the majority interest in Mashala Resources in November 2010.
The maiden reserve statement and updated resource statements were completed as part of the Company’s proposed listing on the Alternative Investment Market (AIM) of the London Stock Exchange and form part of an independent technical report completed by global mining experts SRK Consulting. 

Independent geological consultants, Gemecs (Pty) Limited, Ukwazi Mining and CCIC Coal (Pty) Ltd completed the updated resource and reserve assessment as part of their review and audit of the Company’s South African thermal coal projects.
The maiden reserve statement of 19.9 Mt for the Vlakvarkfontein and Ferreira mines and the Penumbra project is a significant milestone for the Company and its ability to demonstrate bankable reserves.

Major increases in the resources at the Penumbra Coal Project from 25 Mt to 68.3 Mt and an increase in the measured resources at the De Wittekrans Coal Project (CCC 74.0% post acquisition of Mashala Resources) from 8 Mt to 13 are also very significant for shareholders given that these two projects are forecast to be brought into production over the next 18 months. The resource increase at our Vlakplaats Coal Project (CCC 37.0%), where we have a joint venture agreement with KORES, the Korean State Mining and Exploration Company, to 188 Mt up from the previous 122 Mt is also a significant result.

In addition to the many positives that we can take from the updated resource and reserve assessment, there are a number of discrepancies from earlier resource statements that have prompted management to complete further work and drilling. In certain projects (such as Vaalbank and Project X (CCC 51.8%)), a proportion of our previously reported inferred resources have now been determined to require additional limited drilling in order to be classified as inferred resources.

openbriefing.com

Continental Coal has proposed a 10 for one share consolidation that will be put to shareholders for approval at the Company’s General Meeting scheduled for 29 June. What is the rationale for seeking a share consolidation?

Executive Director Jason Brewer

A consolidation of the Company’s share capital has been discussed with many of our shareholders and several international institutional investors and investment funds over the past 12 months. Indeed it was a discussion point at the Company’s AGM last year.

Increasingly we have been approached by institutional investors and investment funds in Europe, North America, Asia and Australia regarding potential significant investments in the Company. The large majority of these institutions have made it very clear to the Company that, irrespective of our growth potential or current market capitalisation and value proposition, their investment mandates preclude them from investing in Continental with its shares trading at their current “penny-stock” price levels.

Based on these discussions and after further feedback from our advisors, we are of the firm opinion that in order to attract significant investment into the Company from international institutional investors and investment funds, we need to create a more efficient capital structure and share price for a listed entity of Continental’s size and market capitalisation.

The Company currently has more than 3.0 billion shares on issue due to historical equity- based capital raisings and corporate transactions. This is disproportionate versus our peer group listed on the ASX and AIM. We believe that the proposed share consolidation will result in a far more appropriate and effective capital structure for the Company and a share price more appealing to a wider range and larger number of institutional investors globally.

openbriefing.com

At the Company’s upcoming General Meeting, shareholders are also being asked to approve the issuance of equity to Masawu Investments Limited (Masawu) your current Black Economic Empowerment (BEE) partner, subject to a new BEE partner acquiring Masawu’s 26 percent interest in the Company’s South African subsidiary and repaying all or part of the intercompany loan that Continental has provided to Masawu to allow it to fund its interest in Continental’s subsidiary. Can you provide some further background on the new BEE partner, the timing of the transaction and its significance for Continental’s shareholders?

Executive Director Jason Brewer

As we advised in the Notice of Meeting the Company is in very advanced discussions with a broad based BEE group that is proposing to acquire Masawu’s 26 percent interest in the Company’s South African subsidiary. We are very close to finalising this transaction and anticipate being able to announce more details on it, including the specific BEE group, in the next few days.

It is anticipated that should the acquisition proceed, the new BEE will enhance the Company’s position in the South African investment community and political framework. In addition the new BEE has a robust balance sheet and the financial capacity to fund its pro rata share of development costs of our portfolio of coal projects in South Africa going forward.

This is particularly significant for the Company’s shareholders, given that to date the Company has funded 100 percent of the development costs in South Africa and like many international investors, financially carried its BEE partner into production. The repayment of all or the majority of the approximate US$30 million intercompany loan that has accrued since October 2008, and is contemplated to be made as a condition of this transaction, will also allow the Company to re-invest this immediately back into its South African business and aggressively advance a number of its other projects and initiatives.

openbriefing.com

Continental Coal plans to list on AIM in July 2011. Why have you chosen to list on AIM, what is the status of the proposed listing, and what is the significance of the timing of this decision?

Executive Director Jason Brewer

The Company is very well advanced with its proposed listing on AIM. A Pre-Admission Document is undergoing its final review by our Nominated Advisor RFC, by our joint brokers in London, GMP and Renaissance Capital, and by our other consultants.

A Competent Persons Report completed by leading independent South African mining consultants, SRK Consulting, has been finalised and will be released to the market shortly. Legal and financial due diligence is being finalised by South African and Australian based lawyers and consultants and our AIM share registry documents have already been executed.

The timing for releasing the 20 day Pre-Admission Document is being finalised but is expected to be on 30 June allowing for an AIM listing date on 29 July. The Company is excited by the opportunity the AIM listing offers. It will provide the Company with improved access to global investors and institutional support and to a market that has a proven record of having invested and supported resource project development since the turn of the last century. A number of the world’s largest mining companies have their primary listing in London. The simultaneous rapid expansion of AIM has seen analytical coverage broaden substantially. There is a good understanding of investing in Africa, supported by geographical proximity and similar time zones. In addition it is expected to enhance our profile in the European markets and allow us to leverage our strategic and financial relationship with EDF Trading, part of Europe’s largest power utility.

The timing is very important as it comes ahead of a significant year of growth for the Company with the planned development of the Penumbra and De Wittekrans projects, feasibility study work on the Vlakplaats project, drilling in Botswana and potentially a new BEE partner in South Africa. With all of this planned, we believe the Company will be particularly attractive to London and other European institutional investors.
Thank you Jason

http://conticoalers.com/2011/06/21/open-briefing-interview-with-executive-director-jason-brewer/


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## vimuttirasa (22 June 2011)

Re: the sell recommendation from "that" publication - CCC can now flush out all those impatient short term traders, and people too lazy to do their research, or set their own stop losses. On the topic of nationalisation which the author gives as a reason for selling, have a look at this: http://www.youtube.com/watch?v=BO-XKyUUoOo&e=45
and this: http://www.miningweekly.com/article...-costs-of-nationalisation-debate-2011-06-21-1

And Eskom is calling for R100 billion to be spent over the next 7 years, with at least 15 new mines needed in Mpumalunga (where CCC are) to source enough coal to meet SA electricity needs - go & ask Julius & his numbskull ZanuPF cronies where that money is coming from? How well is Zimbabwe doing now Julius? They just had to shut down their airline, because of not paying fuel bills - what a joke!

I wonder if his many subscribers knew that the good “Doctor” is in fact a veterinary doctor.  Anyway, here is a great take on that publication & its ethics:

“i understand that he cannot publish the stop-loss level on each stock beforehand for obvious reasons but the fact is that the decision mechanism remains non-transparent, how do people know he didn’t sell just because a conversation with one of the CCC managers didn’t please him etc.
1 thing i can say is that the way he presents his performance is VERY misleading
i’m a qualified CFA and know 100% that i could never do this for moral and ethical reasons
1. he removes the bad performing stocks and leaves the performance without the realised losses
2. he often puts annualised returns in his tables even if the stock has been held for less than 1 year (a big no no)
3. he goes from BUY recommendation (BUY CCC up to 15c) to straight SELL
i could go on but just wanted to highlight how very misleading these types of newsletters are
i actually subscribe to his e-mails to know when to be cautious on buying stocks (i have made it a rule to never BUY one of his recommendations or short where appropriate)
hope newbies pay a little more attention to his fancy rhetoric and tables in the future, why ASIC lets him continue in this fashion (return presentation) is beyond me but I’m not surprised, the regulation of the investment community in Australia has been broken for a long time”
””
thanks to “Chimera” for that great piece – first posted on HotCCCopper.

Now we wait to find out who BEE2 is, what they bring to the table, and if CCC will use the $20m – $30m cash to pay off the 36% balance of Mashala. From the wording used by Jason, this BEE transaction should be a game changer for CCC. CCC will not need to raise more funds when they already have strong revenues & profitability, $10m from VanMag sale, $5m still from EDF, potentially $30m from the new BEE partner (which can pay off Mashala), as well as a likely commitment from them (read the OB below again) to fund their 26% share of capex & operating costs.

Good luck to all bargain hunters – I picked up more oppies at 1.7c yesterday – they look set to bounce hard & fast from here.

There are some great articles out on Mining Weekly today which have a lot of relevance to CCC: http://www.miningweekly.com/page/africa
Especially the one on the TKR starting construction next year, along with other African coal rail infrastructure developments. 

Great close to the trading today at 4.2c on very strong volume - let's see if tomorrow & Friday can give us a bullish reversal confirmation candle or two.

http://www.conticoalers.com


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## Miner (22 June 2011)

vimuttirasa said:


> Re: the sell recommendation from "that" publication - CCC can now flush out all those impatient short term traders, and people too lazy to do their research, or set their own stop losses. On the topic of nationalisation which the author gives as a reason for selling, have a look at this: http://www.youtube.com/watch?v=BO-XKyUUoOo&e=45
> and this: http://www.miningweekly.com/article...-costs-of-nationalisation-debate-2011-06-21-1
> 
> xxxx
> ...




Excellent feedback through your research . I do mean it even if I have sold CCC. With June ending I needed to divert the fund some where else without seeing any good result.
But nevertheless your observations and research on CCC are good pieces of inforamtion and thanks for that

I however could not stop laughing on your observations that the Editor with a Dr is a VET. Probably to handle Bulls and Bears we do need a VET 
I do share with your finding on his annualised returns which I do believe presented by D & D in a wrong way. Ironically I never got any reply from the VET doctor and trying to match 2+2 reading your notes - why. 

I may back to CCC again but will wait for July now


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## vimuttirasa (30 June 2011)

Many people on HotCCCopper & elsewhere keep throwing up incorrect MC figures, so here it is, with some notes:

Current undiluted MC = 3.8c x 3.1B shares = $118m
Options listed & unlisted = 930m (120m expire October 2011 at 15c/20c - unlikely to be exercised) for all strike prices/dates: see page 9 of "Notice of GM" http://www.conticoal.com/fileadmin/...o_Fund_Penumbra_Mine_Development_02.06.11.pdf 

ABSA Project Funding announced - $35m for Penumbra
Existing EDF loan payed back via ABSA ($15m - minus amt already paid back in Ferr. coal)
Working capital facility ABSA = $15m 
VanMag proceeds = $10m
Cash at hand = $5m (this is just a guess!)

post BEE settlement August:
Cash from BEE2 = $20m
Debt to CCC from BEE2 = $10m

Annual Free Cashflow (not including BEE2 26% share, post settlement August)

approx 500ktpa * $40 on current margins @ Ferreira = $20m x 64% = $12.8m

1.2mtpa * $7pt on current margins @ VlkVk = $8.4m (100% to CCC as BEE partner not yet earning in)

= free cash p.a. approx $20m (include Ferr. domestic coal). Ferr mine life = approx 2 years

At the GM yesterday it was reported that CCC have just achieved record quarterly export railings to RBCT & record quarterly production at both operating mines. So cashflows should be increasing. 

Resources statement here: http://conticoalers.com/2011/06/15/continental-coal-resources-reserves-jorc-update/

Total SA Resources @ 565mt. Next project Penumbra: resources just announced increase of almost 300%

This from recent Madison Williams report on CCC:

Recent M&A transaction confirm implied valuation. Recent M&A transactions highlight the value of Continental’s asset base. On May 4, 2011 Optimum Coal announced a deal to pay ZAR 420 ($US60m) million in cash for Umcebo Mining’s two prospecting rights containing an in-situ coal resource of about 120 Mt of thermal coal. At the implied resource value of US$0.52/t, we calculate a resource-based per share value of CCC shares at A$0.08. As Continental unlocks the value of its extensive resource base and ramps up EBITDA, we would expect the share price to more clearly reflect the underlying value of the company’s assets.

+ potential 2.7Bt shallow resource coal at Botswana*** - drilling to start next month

+ Kenya*** (possible 300mt resource for an outlay of approx $3m - CCC execs confident of being granted rights to one of the 4 coal blocks on offer)

+ potential JV with Eskom on a new project (Eskom to fund all development costs) with Eskom to pay CCC on a cost + basis for domestic coal - as announced at GM yesterday

*** these are/will be held alone by CCC, and BEE partners have no rights over these assets/potential assets 

Some more notes from yesterday's GM at UWA (where all 8 formal resolutions were passed by shareholders, including 10:1 consolidation & approval of BEE transaction):

- Late July AIM listing - no share issue on listing 
- Increased export railings over last quarter, despite the RB line being closed for maintenance for 20 days
- Only 3% of CCC's total resources being utilized at current operating projects
- Will be releasing quarterly cash flow reports in future
- Op costs for next 2 projects ~ $65pt USD FOB (including the recent 30% increase in rail costs)
- EDF loan (~$14m being paid back via ABSA loan - some already paid back in coal) - still available for CCC to use for future projects, if necessary. ABSA loan has no attaching options/equity etc (non-dilutionary) - gives 3rd party validation 
- Eskom looking for broader LT relationships/partnerships in SA - where Eskom will JV & fund all capital costs, if they can secure LT supplies, on a cost + basis. Essential for "social license" & access to rail/port allocations. Looking at developing a new domestic mine with Eskom JV (not on current portfolio).
- Have all necessary permits to start Penumbra, have contractors on site already. Expect to start very soon.
- 95% of BFS at DeWitt finished, including wash plant study. Over July the BFS results will be released.
- Botswana is a strategic asset - will be a while before it's commercially developed owing to lack of infrastructure.
- JB very enthusiastic about Kenya was there two weeks ago, met with almost all govt ministers - confident CCC will get one of the coal blocks, and have good relations with Kenyan govt.
- Rail/Port allocations: still waiting for increased Quattro allocations (they were due 1/4/2011 - a lot of politicking involved). All export coal produced in SA is being sent out (not stockpiled) - just a matter of how it gets out, via own allocations or by using another party's. Opportunities to use Mozambique ports (will be done for Vlakplaats). CCC very confident that rail/port allocations will be available, esp. given its strategic alliance with Eskom to make sure at least 50% of CCC's coal is for domestic market. New BEE partner will raise the company's credibility & increase ease of access to infrastructure. Transnet are spending a lot of $$ to make sure RBCT can raise capacity to 80mt in next 2 years.
- Nationalization issue discussed: SA is an inherently difficult place to do business. CCC has good relations with ANC. Malema has the support of a large proportion of black population who have missed out on the promised benefits of BEE legislation, which has only benefitted a very small elite of blacks. PL says SA mine nationalization will not happen - not workable. Oil & gas is much easier to nationalize, ala Venezuela. Nationalization issue is a mainly means to achieve political goals. But as long as this is a live issue, SA will struggle to attract o/s investment capital. Coal is one of the most secure sectors, given its strategic importance to SA's energy security & value to national growth prospects. There has been a sea change in last few weeks, with many leading figures arguing strongly against nationalization. 
- James Leahy's appointment is a big coup for CCC - he has a brilliant reputation in UK & Europe. Was been approached by 30 different resource companies to join their boards, after leaving Mirabaud - Conti was his first choice. James decided to take options rather than a big salary package as he can see the LT value in CCC.
- New BEE (BEE2) group have a massive balance sheet. Received a dividend from parent company of ~$US60m last year. One of the few Community Development Trust Broad Based Black Economic Empowerment (BBBEE) groups that serves the true role of the BEE legislation to benefit local/community groups. BEE2 will fund their 26% share of development costs. BEE2 requested their name not be released until deal with CCC is completed.

- PL & JB both reinforced the message that world class companies like EDF, KORES, ABSA/Barclays & BEE2 have all done enormous, and painstaking DD on CCC, and analysed CCC inside out. You don't get these groups signing deals with CCC if it's a dud!


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## mr. jeff (30 June 2011)

Won't dispute that it has the goods.





but someone does not think so and they are SELLING. 

perhaps they have finished.


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## vimuttirasa (30 June 2011)

Thanks Jeff. Let's hope so. It's interesting to note that the majority of CCC's volume is generated by one or two nominee accounts who are churning the stock - ie. buying & selling almost equal amounts each day, in order to make 0.1c gains. Not sure how on earth they can make any money doing this. Conspiracy theorists might presume that they are being employed by a "higher power" to suppress the SP. Also worth noting that the SP has been falling on lower volumes than when it went up - which suggests there are still a lot of people holding on, waiting for the turn/recovery. 

Any chance you could offer an analysis of the candles & other TA indicators? I'm still very much a novice on the TA side of things.

Cheers


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## grandia3 (16 August 2011)

vimuttirasa said:


> Annual Free Cashflow (not including BEE2 26% share, post settlement August)
> 
> approx 500ktpa * $40 on current margins @ Ferreira = $20m x 64% = $12.8m
> 
> ...




A very rough NPV according to this info
discounted using a rate of 15%
$20m for the next 2yrs, and $8.4m increasing at 10%pa for the following 7yrs (I like the number 7)

will give $62m NPV

divide by 3.1billion shares
equal to roughly 2cents/share 

Feel free to correct me, I'm still learning


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## Ubershrewd (18 August 2011)

The selling pressure has abated, good announcement just before the EGM today. Profit here I come?


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## prawn_86 (18 August 2011)

Good to see they are going ahead with the consolidation. Personally i would have preferred to have seen a 20:1 instead of a 10:1


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## indeck (18 August 2011)

so glad i averaged down at .029

i didnt think the ann was anything people didnt know about but happy for some positive sentiment finally.


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## notting (18 August 2011)

Well done with your averaging down.
Did you get out?


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## LRG (18 August 2011)

With the huge volume today and the 28% 1 day gain - expect this to hit newswires and maybe a short piece in some of tommorrows newspapers.

Then we might see some more buying tmw int the 4 - 4.5 range.

With the ammon of consolidation we may see it creep back towards 9 cents by september then it will automatically become a 90 c stock and start getting on more radars and head up further as the year progresses.

IMO a great media release today on ASX for the TRIPLE C's!!


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## indeck (19 August 2011)

notting said:


> Well done with your averaging down.
> Did you get out?




not yet, my avg is .04 so i'll wait it out a bit longer I think.  See how she goes, im not in a massive rush to sell.  I'll be happy if it can get back to .05 area


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## LRG (28 August 2011)

A week ago i bought a couple of million of these.

Friday they just went 10:1 consolidation and next month they list on the uk markets.

Hel up okay on friay after consol at 29.5c.

Imo they may have reached thier bottom and are ready to move up now towards 50c maybe in sep/ oct.

With consol i have 200k of them just to clrify.


Hope this one goes off - any thoughts?


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## skc (29 August 2011)

LRG said:


> A week ago i bought a couple of million of these.
> 
> Friday they just went 10:1 consolidation and next month they list on the uk markets.
> 
> ...




Perhaps you may articulate and share the thinking behind such hope?


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## prawn_86 (1 September 2011)

Prelim report out and i'm not really impressed i must say...

50m cashflow from sales with cost of sales alone being 47m  including 12m of "bought in coal". Im hoping this is just a once of due to the mines ramping up to full capacity.

They do seem to have taken onboard a lot of debt from a lot of providers so lets see if they actually do know what they are doing and can leverage into coal demand instead of blowing up.

Personally i would like to see them stop expanding and focus on getting the co profitable now...


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## alexc2005 (30 September 2011)

Another share consolidation gone bad.

consolidated at 36c, 16c this week.

now on its way back up, preopen indicates 23c open today.

Been watching this one for a while, glad i didn't buy in ages ago, but kinda wish i hadn't cancelled my order at 17c.

Trigger finger is sensitive these days.


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## Miner (3 October 2011)

Miner said:


> Right or wrong - sold CCC at a loss after holding for a significant time.
> Dealers and Diggers have also stated in their update that CCC is no more  a darling for them and has reached Sell figure. Ironically the shares dived two points once the report came today.
> In core of my heart I think CCC is a charm but my head said - sell it
> 
> It will be only the outcome of Government of Botswana and its plan to see better days for CCC.




Looking back even strong recommendaiton earlier from ASI weekly it was not a bad move .
CCC is still going south


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## Gringotts Bank (1 March 2012)

Double bottom plus 'cup and handle' plus descending triangle patterns all ready to break to the upside simultaneously.

Waiting in line at 26 - almost filled.  If it pops it should be a decent run, if not well, I suppose I'll sell.


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## Gringotts Bank (1 March 2012)

That's annoying to have a partial fill, but I reckon I might be filled tomorrow.  Triangle broken to upside.  DB and C&H about to do the same.


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## Gringotts Bank (19 March 2012)

Good potential remains with CCC. Decided not to sell at 23.5 since it represented another small double bottom.

So we've got a double bottom within a double bottom and a perfectly shaped cup with a handle that broke upwards (1st Mar) then failed.  It didn't fail miserably, it just wasn't ready, hence the messy trading this last week.  26-28c is a buying zone I'm waiting on.  Buyers will appear at that price.


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## Vader (2 July 2012)

There was a bit of action with this one today... up 11% on decent volume, and then an announcement after the close that one of the directors purchased $50k worth of shares on market and tucked away at the bottom of that announcement (shouldn't this have been reported separately?) was another one that they have converted $500k worth of debt to equity.

...add to this a different director buying $13k worth of shares last week and things seem a bit fishy IMO.

(no, I don't hold any, but is worth a bit of research I think).


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## Vader (2 July 2012)

Vader said:


> was another one that they have converted $500k worth of debt to equity.




...after a bit more digging, it appears that this is related to the Columbian Coking Coal mine they announced in May that they have an option to acquire 50% of the JV. It's 10% of the convertible note facility they announced, so I'm guessing it's progressing their due diligence stage.

More importantly though, their new underground coal mine appears to be on track to start production in September, and combined with their other operations (and their other growth opportunities - some interesting reading in their last quarterly activities report), they look cheap to me at 10c, I think I might try to pick up a small amount tomorrow if they are still trading around the 10c mark... worth a little interest I think.


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## prawn_86 (3 July 2012)

Trading at 10c is the same as 1c before they did their consolidation last year 

Seems between this and HOG i'm not too good at picking those small cap producers who get recognised by the market. Maybe i should stick to larger stocks


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## Vader (4 July 2012)

Well, CCC has really started to take off this week... yesterday was reasonably strong buying, but the buyers have really jumped in today and the price has moved from 10c to 12c on the back of high volume. Might be just starting to see some signs of short term profit taking at the 12c mark (1m or so shares just traded, bumping the price back to 11c)... but if it breaks through the 12c barrier (already back to 11.5c), there seems to be enough interest that might take it a bit higher yet. 

(and still 3 months until their new mine opens)


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## springhill (8 August 2012)

*MAIDEN INFERRED COAL RESOURCE OF 2.2 BILLION TONNES IN BOTSWANA EXPLORATION TARGET INCREASED*


● Maiden JORC Compliant Inferred Resource of 2.2 Billion Tonnes on the Kweneng Coal Project, one of the Company’s three prospecting licenses in Botswana
● Results from Phase 1 drilling campaign confirm a further Exploration Target in excess of 9 Billion Tonnes across both the Kweneng and Serowe Coal Projects
● Drilling confirms that there are shallow coal seam areas at the Serowe Coal Project that are suitable for open cast mine development
● Coal washability tests confirm potential for low grade exports from the Kweneng Coal Project
● Planning for Phase 2 drilling program underway to further define resources and convert Exploration Target to JORC Compliant resources


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## springhill (30 August 2012)

Breakaway research report lobbed in my inbox today.
http://www.breakawayresearch.com/breakaway_research_continental_coal


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## prawn_86 (30 August 2012)

springhill said:


> Breakaway research report lobbed in my inbox today.
> http://www.breakawayresearch.com/breakaway_research_continental_coal




I for one cannot figure out why the market doesn't like this stock. It has been in a solid downtrend since its consolidation and is now back to where it was pre-consolidation 

Management always seem to deliver projects on time and they have cash-flow as opposed to other pure explorers. With MC only 5m above cash value i can't for the life of me figure out what i am missing and what the market has noticed to drive it down to such levels...


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## springhill (30 August 2012)

prawn_86 said:


> I for one cannot figure out why the market doesn't like this stock. It has been in a solid downtrend since its consolidation and is now back to where it was pre-consolidation
> 
> Management always seem to deliver projects on time and they have cash-flow as opposed to other pure explorers. With MC only 5m above cash value i can't for the life of me figure out what i am missing and what the market has noticed to drive it down to such levels...




I don't follow CCC, but for me, even post consolidation there are far too many shares on issue. Under those circumstances the MC:Cash position becomes less of a pull factor. I would be waiting until they were dead even before starting to contemplate buying CCC.

Is CCC able to be shorted? I am not interested in that sort of thing, so wouldn't know.
Other scenario is a substantial holder is dumping stock for a continual decline like that to be happening.

Other than that, I can't give any further insights. Your guess is as good as mine.


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## darajman (22 July 2013)

Continental Coal’s Vlakvarkfontein Coal Mine generating free cash flow

http://www.proactiveinvestors.com.a...oal-mine-generating-free-cash-flow-45152.html

Im considering buying... Any reason why I shouldn't?


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## GusBricker (22 July 2013)

darajman said:


> Continental Coal’s Vlakvarkfontein Coal Mine generating free cash flow
> 
> http://www.proactiveinvestors.com.a...oal-mine-generating-free-cash-flow-45152.html
> 
> Im considering buying... Any reason why I shouldn't?




Not sure, hopefully this will jolt them into some movement now!


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