funky, page-20

"Or should they have constrained on bring the mines they had into full production first."

And not picked up the other Dewitt/Mashala assets to significantly transform it into the Dewitt complex?

As far as lack of funding goes we are yet to see how this pans out but it has been stated before Penumbra IS funded.

Dewitt is a different matter. BUT given EDF have already said they are taking all the coal CCC can produce from these assets its hard not to see them stumping up another wad of cash for DeWitt.

A consolidation will fix the liquidity issue but then imo the original placement takers are still playing this so CCC wont go with any consolidation until these placemets instos/brokers have made their hay.

The fact of the matter is that if thermal coal stays above $100/T then the model is a sound one.Theres nothing saying that thermal coal hasnt got the future demand not to do so.

d.