3 year outlook?, page-4

MCC ATM $12.92,production going to 9MTPA by 2014,from current 5 MTPA.80% of 12.92 = 10.34 + 12.92 = 23.25.

I think with all CCC's projects coming on line we can easily get to 10MTPA by 2014, and beyond it.

MCC will have to do raisings to get there IMO,we have done our raisings. We will have much more coal in the JORC saddlebags than MCC too.

Currently our combined shares/options are approximately 11 fold MCC's, so dividing MCC's conservative 2014 SP by 11 gives a rock bottom value to CCC's SP of $2.11 cents.

Botswana/Mozambique/JV's/ramping up production 2-3 times current 2014 estimates can be achieved by our dream management team IMO. So to my way of thinking $2 is very conservative.Hope this helps.

Cheers, Jake.