Other comapnies in the sector have been hit hard aswell. But their are companies in the secotor who are up over 50% this year. So we need to have a balanced opinion. It seems they focus more on their competition then they do on ccc.
Even if a sector has been hit hard, the sentiment of the sector does not affect the following.
1) DISCLOSURE. Simple things like their margins. Volcano, you talk about FMG, FMG provides their shareholders with the little details like the margins. In the quartlerly, CCC highlights that we are substantially on budget while good management like FMG inform their shareholders that they are 600 million over budget. Are we supposed to gues what substantially means? THats enough examples og that one.
2) Vanmag. The "secured bank guarnatee" they supposedly had. Where is it? Did it even exist? Looks like we are back to sqaure one in looking for a bidder now.
3) Market sensetive information? If the Vanmag fell through that is market sensitive information i would believe so why wasnt it disclosed to the market the day it fell through?
4) CCC or CCL. To be honest i dont know which assets CCC owns. It looks like CCL owns majority of it
5)Botwana. The last couple of years they always write in their quarterly drilling has been completed but we are awaiting assay results. Weve been waiting a fari while now.
6) All the figures are given from a CCL point of view. Gross profit relates to CCL's group mining activities and excludes corporate expenses. Once again are we supposed to guess what their expense are?
7) Other companies also provide a quartlerly cashflow report so their shareholders are informed what is the cash burn rate? WHile we dont.
8) Production targets. I believe we underperformed in terms of coal production and yet it wasnt mentioned in the report.
9) I can keep going on here but i do have a life so that is all for now.
Junak
All information is just my opinion only.
CCC Price at posting:
7.9¢ Sentiment: Sell Disclosure: Held
