Dancer have you checked out the recording of the recent general...

Dancer have you checked out the recording of the recent general meeting. There CCC admitted pretty much being near insolvency. No cash available or assessable at the hold co level, $6m of annual expenses there and large short dated liabilities. They said they had 8 weeks and then would require emergency issue unless could sell SA assets. When asked how this could happen, they said "#hit happens". Its not the posters making stuff up or exaggerating. And its not just the market I'm afraid! The group structure is very flawed. Even if they sell a stake in the operating assets, its seems unlikely there will be any material net value left at the hold co.