who is selling at these prices, page-8

This one is going to the dogs because the current company guidance is that they might not be profitable even when Pen comes online, hence all the free cash flow nonsense instead of a profit estimate.

Macro picture isn't boding well for coal prices.

Company is operating marginal mines.

CCC Seems to be struggling for capital (hence crazy Bergen cap raisings).

Lots of people are worried that the whole shebang will just keep churning out losses, and that further capital raisings/dilution is on the way. I don't know if they are but the risk/reward wasn't where I wanted to be.

The company persists in being a non-transparent entity, all that I can conclude is that CCC is just a vehicle for ripping capital out of retail investors hence the lack of institutional support.

Hoping I'm wrong and that holders see good gains when the annual report is released, but it seems many aren't willing to take the chance. Remember lots of those shorts might just be traders seeing the trend and going with it, seems more likely than manipulation.