Ann: Continental Coal Enters into Binding Term Sh, page-16

re: Ann: Continental Coal Enters into Binding... Maybe I was a little harsh in my earlier post. In fairness today's announcement talks of 2 leases not the 3 that they held.

But we have been hearing about Botswana partners for 2.5 yrs now. See p 5 of this announcement ...

http://www.asx.com.au/asxpdf/20110322/pdf/41xl63hnd403ll.pdf

As for VMR not sure about their strategy, but the CCC consolidation and AIM listing all got delayed, so maybe the JSE listing will too. Anyway, I think VMR has at least another 6 months to pick up the remainder of their 3-4% stake, whilst JSE listing is planned for Q4 (based on July 2013 announcement).

Really VMR just needs to sit tight. They're on the board, they know what's planned, CCC can continue to clean things up and VMR can patiently pick up any weak holdings in the interim. Worst case scenario they pay up to 10c for the remaining stake when the time is right.