what can we expect from conti this week, page-8

Possible cap raising at 12c or 1.2c in old money.

Production of pen to stop because of funding.

Kicked out of south africa for not having a bee partner.

Hairy - you are being disingenuous with those comments. Even though there have been long & frustrating delays in tying up deals - the announcements below answer your pessimistic & unsupported suppositions:

AGREEMENT EXECUTED WITH BROAD BASED BLACK ECONOMIC EMPOWERMENT PARTNER WITH INITIAL ZAR140M CAPITAL INVESTMENT INTO SOUTH AFRICAN MINING OPERATIONS

18 November 2011

African focused coal mining investment and production company Continental Coal Limited is pleased to confirm that established and highly successful Broad Based Black Economic Empowerment Company, the Sishen Iron Ore Company Community Development Trust (“SIOC-cdt”) and the Company’s South African subsidiary, Continental Coal Limited (South Africa) (“CCL”) have formally executed Subscription and Shareholder Agreements under which SIOC-cdt has become the Company’s new partner in South Africa.

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US$65M in funding secured with ABSA Capital for Penumbra mine development

14th September 2011

- Committed financing offer received from ABSA Capital for development of Penumbra Coal Mine in South Africa,
- Final credit approval received and due diligence completed, with legal documentation nearing completion,
- Loan draw down schedule has been agreed between parties

SALE OF VANMAG FINALISED

9 May 2011

The sale of its shareholding in Vanmag will result in net proceeds of US$10 million (ZAR 81.44m - on current x rates @ 7/1/2012) to be received by the Company. As a condition of the sale of its shares in Vanmag, Continental has received irrevocable bank guarantees from the purchasers’ South African bank as security for the obligation of the purchaser to pay the acquisition price. The irrevocable bank guarantees are held by Continental's lawyers in South Africa.

UPDATE ON PENUMBRA MINE DEVELOPMENT AND COAL MINING OPERATIONS

15 December 2011

Ferreira and Vlakvarkfontein Coal Mines report thermal coal sales of 158,652 tonnes and unaudited aggregate EBITDA of ZAR14.9m for month of November and ZAR59.5m year to date