company presentation, page-30

vayama i know the report is commissioned report so who knows it may be a little biased, but so far its the only in depth research we have available until we get some more information. Commodity prices will fluctuate up and down but im a coal bull and i see india, china and ofcourse SA demands increasing over the years, not to mention the many reports that SA will require something like 40 coal mines to meet demand over the coming years. So i factor this in my decision that although the margins might be slim now, we are in a GFC so the outlook will be better (thats my opinion)

Either way you look at it, even using your assumptions CCC will be making money, now i say it again i cannot find another company valued at $50m with a hope in the world of turning a profit. So once again i say the downside is limited here, no premium whatsoever has been priced in. This differs to companies like FAR (previously), MEO, BUY, MMR etc which have ridiculous premiums based on the assumption they might hit something big one day. Those are the companies i trade, but never invest in.

by the way, having said all that thanks for your input, you do make very good points.