buy, sell,hold: rio tinto and continental coal, page-6

They are not in the same sentence, here is the full article.

Continental Coal (CCC)

Analyst: Matt Fernley, GMP Securities

Recommendation: Buy

Price target: A56c

Thursday’s close: 19c

Comments: Continental Coal reported initial results from a draft bankable feasibility study for its De Wittekrans project with plans to produce 3.6Mtpa of ROM coal for 33 years, yielding about 1.7Mtpa of domestic coal and 0.8Mtpa of export coal at a cost of $US55 per tonne of export coal. The study suggests an initial capex of $219 million, of which $60 million can be saved by using existing infrastructure and $107 million for underground development is to be incurred after one year of operation. We have included the discounted cash flow valuation for the project in our model assuming the start of open cast mining in 2015 and underground mining in 2017. We have assumed a slow ramp up of the project to target 3.6Mtpa of ROM production in 2019.