I've uploading a 67mb version of the audio, which is far better...

I've uploading a 67mb version of the audio, which is far better quality.

Might take me a while to transcribe the meeting properly - lots there!

If you open the jpeg files I just posted then it will be much easier to follow DT's audio presentation. Next year I will have to go high tech and invest in a HD video camera. But only if Conti is at least 20c!

These are from my rough notes & memory (may be out on a couple of details, slightly):

Don said that the capex costs for DeWitt (alone) would be $70m. To understand the whole time-line & rational of project developments in this newly named "DW Complex" it's best to listen to the audio. My memory is not that good. If anyone wants to find where it is on the audio track, please give the time reference.

Botswana - drilling 90 holes, 20,000 metres. Cost ZAR 20m. Mashala rigs will be used on SA operations. Botswana drilling is being contracted out.

VanMag will be sold before end of year. Waiting for section 11 approval. Have an irrevocable agreement (?) to sell this asset to "DeMindex" (spelling?)

There will be a share consolidation. Wait until SP is 50c. Then probably do a 5:1 split. Timing is very important, as consolidations can go pear-shaped if not managed properly. Ideally company would like to have an issue of 500 - 600m shares.

RenCap is placing 6% of their shares from the 276m issue to OchZiff Capital (as mentioned in GMP report). Look out for a "significant holder" notice soon. These guys will more than likely hold their stock. Can not guarantee that those who have received the rest of the 475m will not dump their shares. PL reckons this would give us little guys another opportunity to buy some cheap stocks! Thanks Pete, but I'm already fully loaded :)

Company targeting MC of $500m - $1B within next 6 months.

Preferred method of growth is organic. More opportunities for debt funding (like a rolling overdraft facility) from EDF.

Mashala managers would prefer to take an equity position in the company, via the JSE listing next year. Listing price at a 30 day VWAP.

PL very happy about the volumes CCC turns over - much better than it's peers by a long stretch. Since 1/7/2010 CCC has turned over $344m worth of stock.

Directors can not buy on market shares as they have too many restrictions with insider trading regulations. They have access to 13(?) separate pieces of information which would prevent them from legally buying shares.

More to follow ...