coal announcement today, page-32

Rich,

Although I generally agree with your and others sentiments on existing shareholders participating in capital raisings it is important to note that at times it is in the interest of the Company and its shareholders to also develop the shareholder base.

I do not think Continental at the moment have any substantial shareholders, maybe some one else can add to that, however I think this raising may represent a step into the institutionalisation of the share register.

Given Continental is a near producer (therein lies the mid and long term upside to the SP) and has some great projects that will require mine development funding, this raising may provide an entry point for leading investment institutions that will be possibly important sources of capital for progressing the Company's projects.

Will be interested to see the major shareholders list in good time.

regards, JJ