"CCC has good announcement today" - archie88Yes, it was good to...

"CCC has good announcement today" - archie88

Yes, it was good to see Penumbra moving along. But this passage was not so good with regards to Ferreira:

"EBITDA of ZAR1.2m (after mining, processing, administration, materials handling, export, exploration closure and indirect costs) decreased from the ZAR2.4m of average monthly EBITDA reported in the March 2012 quarter."

50% lower earnings for the month. Annualised, that's an EBITDA of AUD$1.8M from Ferreira. This in a nutshell is the effect that lower coal prices have on a low margin miner. When you consider that some AUD$7M was spent last quarter alone in corporate and adminisatrative matters, today's selling may be partially related to that in addition to the entire market being sold off at large.