$16mill sales this qtr - is this enough, page-12

BBB - you obviously missed my earlier post re: non-SA assets & BEE partners. BEE shareholdings only apply to SA assets. Any sale of Botswana assets, will go only to CCC (after they have fully acquired Mashala) & any JV partner they may be obliged to share the asset ownership with.

here is what I posted on 14/01/2011:

"After the acquisition of Mashala there will be (and is) a corporate restructure to simplify the holdings in the respective subsidiary and operating companies.

Regarding all of CCC's South African based investments - they will of course be (and are currently) held through the 74% subsidiary Continental Coal Limited (CCL South Africa).

Any non-SA interests, such as Botswana, will be held through new wholly owned subsidiary companies in that country. Any such subsidiary company will be subject to the investment conditions (i.e. in Botswana) and may well require further joint ventures or subsidiary companies to be established, to incorporate government or commercial interests if/where they are applicable."

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So, we can now be certain that the BEE partner's 26% holdings do not automatically apply in non-SA countries that CCC invests in, unless they are able to come up with the capital to form a new (non-BEE conditional) JV with Conti &/or any govt/commercial entity which may be required to participate in the project."

link

Note that this was a reply from JB, to questions formulated by HC members Septa & Smoosy.