the story so far

Sifting through all the postings, and information floating around over the last few days, I've come up with the following:

1. The CCC share price fell on Monday afternoon to a last sale price of 6.4c

2. On Tuesday morning CCC announced a Trading Halt, pending a 'significant acquisition'.

3. During the day Tuesday posters on HC revealed that a broker in WA had sent out E-mails advising of a capital raising of $16 million at 5.5c a share, well below the last sale price.

4. There will apparently also be $11 million raised via a share purchase plan, with shares also priced at 5.5c, and $25 million raised via a Convertible Note raising.

5. The total number of new shares is apparently in the order of 800 million, taking the total number of shares to about 2.2 billion, with another 650 million 5c options.

6. The 'significant acquisition' is apparently Mashala Resources, a South African coal company. It is not clear what % of the company is being acquired.

7. It is expected that somewhere in the order of $40 million will be allocated for the purchase of Mashala Resources.

8. The new shares are likely to be released in a couple of lots, in view of the number being released.

9. CCC is likely to come out of suspension prior to the market opening next Tue or Wed, with the first lot of new shares released within a week or two.

Quite a detailed picture has emerged, and it seems reasonable to assume we will find that this information is essentially correct, which really does beg the question - why is it available to so many people yet not a bit of it has been released to the market yet?

Are we meant to believe that none of the sellers on Monday afternoon had prior knowledge of the pending release of discounted shares?

I realise that as usual nothing will be done about this, and that we just have to accept that those in the know get richer whilst the rest just tag along, but it really isn't good enough.

I admire all the optimists who are hoping for a short term double figure share price, but with so many new shares coming into the market over a short period I just don't see it, though for selfish reasons I do hope I'm wrong.

Long term I agree that the sky's the limit.