prsentation looks good., page-13

"..purely look at the presentation they do sell it well.."

Of course they do! That's what sucked so many (including me) into this stock in the first place.

That presentation pays no respect to the fact that they will share Penumbra production with a BBEEE partner, that they don't own Mashala outright, that the coal price hedge is most likely void due to a busted spot price, and that Conti is locked out from cashflow for a year (as per PL's words in the GM).

As it stands CCC only owns 63.6% of Penumbra in their own name, but why let the truth get in the way of a good old spiel.

Who can take these guys seriously when PL had it in him to promise an outcome with Vanmag 2 weeks after the GM and still there has not been a word on the matter since. Who can take them seriously when they used funds raised for Mashala to pay off working capital and their own pay cheques instead. Who can take them seriously when they can't report quarterly cashflow figures, let alone announce their own cash and debt positions rather CCCSA's.

The whole thing has become a joke. They recently paid for another analyst report to tell the same story that they've been shoving down the market's throat for the past two years. Now they bring out this presentation; conveniently done so BEFORE the the financial results release on Monday. I dare say not a single member of that board would be brave enough to stand in front of a crowd next week after what I believe will be a very telling financial report that will shed some light on where exactly all of this raised money has gone to over the past year.