ccc hard facts why this is junk!

Update, so now could sell all?
or get another mate investor which will further dilute SP....

Has $46.2 Million debt + additional Expenses,Pennumbla for all we know could have issues and cost blow outs which CCC cannot afford.

A week ago told us will extend Ferrira Mine, for a few extra months, no details of costing....short mine life, less than a year , high cost miner, so who will pay for this loss making, depleted mine....Value $0

Vlak domestic, maybe Eksom might show some interest at a bargain basement price, receiving approx $17 to $20 per ton for this inferior domestic dirty coal...How is this ever going to make money.....Value $1

Pennimla , chances are cost blow out, irrespective what they telling us and production numbers are not sales, so until they start making shipments production numbers mean nothing....FY 2013 forecasting 225000 Tons, not enough to pay the bills, interest on loans alone at approx 8% is 3.7M pa on top $46.2m
So debt far exceeds their assets,earnings cannot make any in-roads to debt, the 2 existing mines not profitable.


Other assets Botsowana and other grasslands, non core assets , just land not economic viable to develop...Value ? sell it as vacant land, plenty of that in Africa....Zebra and Elephants and a lot of porkies!

So whats left, 0 mines + Debt + dodgy management = Hole in investors wallets......

As I stated in past Penubra is the only viable asset, but not with all the other crap, Avoid