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CCC - Continental Coal

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Looking back even strong recommendaiton earlier from ASI weekly it was not a bad move .
CCC is still going south
 
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.
 
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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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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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).
 
Vader said:
was another one that they have converted $500k worth of debt to equity.
Click to expand...

...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.
 
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
 
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)
 
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
 
springhill said:
Breakaway research report lobbed in my inbox today.
http://www.breakawayresearch.com/breakaway_research_continental_coal
Click to expand...

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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