Chris7: "The simple facts are they are not performing in most facets of thier (sic) operations at the moment"
Can you please elaborate? How & where are they not performing? Did you read the announcement today?
Mines producing above budgeted rates - CCC can not control the price of coal - profitability is affected by the drop in RB prices. What did you think of hedging agreement for Penumbra coal sales at ~$130t prices?
Almost all domestic coal sold to Eskom now, under recently competed offtake agreement - at higher margins. Why would Eskom agree to receive supply from Conti, after almost 2 yrs of DD, if Conti were "not performing in most facets of thier (sic) operations". Ditto EDF.
Sioc-cdt confirmed BBBEE partners (recently lauded in media by the deputy mines minister), paid ZAR40m with ZAR100m due later this week
Outstanding health & safety records - shows exemplary care towards employees, and establishing a good reputation for Conti in SA - where mine safety is a hot issue
Penumbra well on track (see pictures), on budget, civil works effectively completed - Murray & Roberts, South Africa’s leading engineering, contracting and construction services company are responsible for the decline development - who would you rather have build the mine? Coal has already been mined!!!
Strengthening of the Board with the appointment of Mike Kilbride, Johan Bloemsma and Connie Molusi as non-executive directors of the Company (100+ years of experience).
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I'm looking forward to your answers Chris - I'll be happy to forward your criticisms & analysis to Don & Jason
CCC Price at posting:
18.5¢ Sentiment: LT Buy Disclosure: Held