CCC continental coal limited

Hairy,You got it all wrong, they covered this off in the...

  1. 100 Posts.
    Hairy,

    You got it all wrong, they covered this off in the qtrly..

    Settlement of VanMag and Acquisition of Minority Shareholders In Mashala Resources
    During the Quarter, the Company announced that settlement of the sale of its shareholding in Vanadium and Magnetite Exploration and Development Co (SA) (Pty) Limited (“VanMag”) had proceeded with an initial non-refundable payment by the purchaser of approx. US$1m. Final settlement of the US$9m balance is to be made in the current quarter.
    The proceeds received were used to meet part of the ZAR76m purchase price for the outstanding minority interests in Mashala Resources (“Mashala”) not already held by the Company’s principal subsidiary in South Africa. Final payment of the outstanding interests is scheduled on 28 February 2013 and is to be made from the US$9m due from the final settlement of the VanMag transaction.


    Hahahaha

    On a serious note what is news is 'scheduled on 28/2'. Prior they made no indication this was the day, maybe semantics ...

    Why would you schedule the payment the final day of an extension on an extension.

    A great opp to settle early and crush some doubt

    Webk
 
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