Low coal price and debt will drive ccc share price much lower in coming months, IMO.
Total liabilities more than $70 million.
Current liabilities around $35 million, this amount they have to pay back in 1 year. Average $3 million per month. You should read carefully annual report which will be released on Sep 30, could be more than this figure.
Two mines now are cashflow negative at this moment due to low coal price and high cost. CCC can only raise more fund from shareholders to pay back debt. CCC have to issue more shares to acquire remaining part of Mashala.
CCC Price at posting:
5.5¢ Sentiment: Sell Disclosure: Not Held
