I think you are spot on bullbar. The market is always 'right', but it doesn't have to make sense!
Purely in terms of the share price CCC is a victim of it's own rapid growth, as this has been achieved with a significant increase in shares on issue.
From a company perspective it's been an exciting period, and I see solid foundations being laid for a busy and productive next couple of years, but the share price is unlikely to reflect this for some time yet.
Look at the following list one poster made regarding the perceived benefits of XCD:
"-10mil cash -market value of one of their coal resources is 18mil -only 65million shares on issue -55mil jorc coal resource -near term producer -feasibility study to be completed short term -jorc increase probable -in talks to secure an offtake agreement -next to power plants -transport close by."
CCC is better on paper in nearly all areas, but the share price languishes. It's difficult, on the basis of available information, to see any other reason for this than the number of shares on issue. I guess we will know whether this is the case post consolidation.
Perhaps, though, there is no logical reason, and at some point CCC may be just like XCD, become the flavour of the moment for those with more money than you and I, and take off?
CCC Price at posting:
37.0¢ Sentiment: None Disclosure: Held
