ccc is way under valued, page-100

Broker recommendation Dahlman & Rose

Recommendation
Rating: Buy
Price Target (in AUD):AUD0.35
Price Target (in $3.50)

Expected Return: 52.2%
Dividend: NA
Enterprise Value (MM): AUD 98.6

Company Provides Update on Penumbra Development activities at the Penumbra Coal Mine in South Africa have continued to accelerate. The majority of the civil work on site has been completed, with the pollution control dam, silt traps, and storm water channels completed. Power supply has been installed.

Penumbra Mine twin declines are significantly advanced, and key underground mining equipment orders have been placed. First production is expected in 3Q12 with full
production to be achieved by year-end 2012.


http://www.conticoal.com/broker-reports.html