new report on ccc out, page-31

Id be primarily looking to the Botswana drilling for more resource at this stage.

Imo paying for more resource would not exactly be retaining shareholder value espc when they are looking at potentially 100M+ profit in 2-3 years.They could fund further acquisitions from cash flow if needs be.

This is the last point made in the Botswana drilling annmnt.

http://www.hotcopper.com.au/asx_announcements.asp?id=217574

"Continental has, upon completing the acquisition of Mashala, committed to a 21 hole drilling program at the Botswana projects with the AIM OF DEFINING an initial JORC compliant resource and providing coal quality analysis."

This statement

"An Exploration Target of 6.6 Bt of coal has been determined, of which 2.7 Bt of coal at shallow to moderate depth can potentially be exploited by conventional mining methods. It should be noted the Exploration Target is conceptual in nature and is not compliant with the JORC standards for reporting ore reserves under the ASX Listing Rules. To delineate a resource on this project that is JORC Compliant significant levels of drilling is required."

to me is saying that they have STRONG suspicions that this particular project,which is the Kweneng license and is adjacent to CIC's project,is POTENTIALLY a viable project.

The VERY inetersting thing is, if you have a look at the shallow to moderate depth numbers of the A and K seams the insitu estimate is 700MT.

This would certainly push CCC's total up towards 1500MT.

Im betting the majority of the drilling will concentrate on this particular Kweneng prospect.Bear in mind that these licenses must relinquish 50% of any nominated part of the 100Km2 license after 3 years and then another subsequent 50% two years after that.So CCC must get on with deciding which part of what prospect/s they want to relinquish.

So it might be worth asking in that email if there is any intention to concentrate drilling on Kweneng given that there is a high possibility that CIC's and CCC's projects may reside in the same basin and therefore have similar coal forming geomorphologies.

d.