If the broker that's in their pocket is highlighting this, there is hope. There was a real chance On pg 15 (future strategy) to focus on reducing costs. They had plans of grandeur that have driven us to thr brink
Tell you what I'll swap ii) & iii) for culling admin costs (halve the board) and staying thr hell out of US/Columbia.
Fix your backyard!!!!!!!
(ps further improve shareholder wealth.. How about saving the company)
To further improve the Group’s profit and maximise shareholders’ wealth, the following developments are intended to be implemented in the near future; (i) The Group expects commissioning and first coal from its third coal mine (Penumbra) in Q4 of 2012, has completed a Feasibility Study on the De Wittekrans Coal Project and is in the process of completing additional optimisation studies; (ii) The Group’s vision is to continue to expand its coal interests in South Africa and develop these investments to production through its South African subsidiary Continental Coal Ltd; (iii) The Group will consider diversifying its portfolio into other African countries. To date it has received a maiden inferred JORC resource of 2.2 billion tonnes at its Botswana project; and (iv) TheGroupwillpursuethesaleofnon-coreassetsandevaluateapotentialstrategicinvestmentintotheSouthAfrican and Botswana businesses by an established business partner. These investment opportunities, together with the current strategy of continuous improvement and an adherence to quality control in existing markets, are expected to assist in the achievement of the Group’s medium-term goal of investing in highly prospective coal resources in South Africa, with early cash flow to fund its ongoing financial requirements and minimum equity dilution. Webk
CCC Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
