Agreed forro on sov risk being a red herring and upcoming financials being key. However, in my view, you ARE missing something.
I established a large position in CCC last year because I was looking for a thermal coal play, managements story was very good and they had credibility because of the EDF funding.
Since then a number of contradictory statements, inaccuracies, ommissions, shameless promotions (including tv ads) and, to me anyway, implausible statements have eaten away at that credibilty. I know some people think these things are minor, or not unique to CCC as you say. I believe its what holds CCC back. In my view it would be better for investors if you held CCC mgt to a higher standard rather than encourage more of this behaviour.
Finally, I find it ironic that you mention the need for careful management on a thread which started with a JB email suggesting that maxiumum debt funding is the way forward. These guys are ambitious, perhaps even visionary would fit but careful? Surely a careful mgt would focus on developing the many existing projects not buying up all of Africa. And "Steady as she goes" mmmm, not sure what will happen but CCC not likely to be as boring at that suggests.
CCC Price at posting:
76.0¢ Sentiment: ST Sell Disclosure: Not Held
