Yes Trime that was the story that lead to the stock more than doubling. They don't mention selling non-core assets which you said though, rather all or part of their South African business. After the draw down of ABSA which will happen based on the large payables balance in the accounts, CCC will have debt and other liabilities including deferred payment for Mashalla and royalties of around $70m. So if they sold all the SA business, they would need to sell it for 4.4x the market cap stated of $16m just to repay those. To justify the current market cap, you would need to sell for 6x that old market cap. The rationale for the rally was a bit flawed I'm afraid. Not the first time posters have run off on the wrong track and caused a false rally!
The only hope for that story is if when the company originally said some of the offers were for multiples of the current market cap, they meant the offers implied returns of multiples of the current market cap. I doubt that though. You have to assume if there were offers like that on the table they would have to disclose them. There are several other factors that suggest an offer that would imply the market cap multiplies is very unlikely:
The SA business is not profitable;
Coal prices are leaking back toward the lows; and
CCC has said they are trying to refi the convert and raise another $15m debt facility.
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