notice received -botswana result, page-15

It's hard to see this being the game-changer for Conti.

Conti has missed the boat on Botswana coal - a year or two ago the market was interested in billion-ton deposits of low-quality stranded Botswanan coal, but with the performance of coal prices and coal stocks in general, this couldn't come at a worse time.

Which is ironic given Conti said they would release this six months ago.

Remember, these deposits are the very bottom of the profitability pile and as the coal market heads down, these are the first to get the chop.

As for the results, I would expect to see a roughly 1-2 Bt inferred JORC resource of low thermal value, relatively high ash coal. If the market is willing to give us even 1c/t we'll be doing well IMO.

I've never had a serious investment in Conti, just a little flutter, and I didn't buy anywhere near the top, so it's interesting for me (rather than particularly upsetting) to note today that if the price drops by another pip, my holdings of Conti become an unmarketable package!

I won't sell though. I find a certain black humour in the ride of train-wreck Grand Guignol that is Conti. I do feel very sorry for those who have lost buckets, though.