If we did not have any exposure to CCC, the whole saga since IPO, would make an entertaining Schoolboy story in "How to blow up shareholder value"..
Correct me please,
but we were led to believe (Sept 2012 Mkt announce/there were several Private Equity & Investors lined up to pay "several times market cap " for CCC South African Coal Assets..by OCT 15 2012.
Guess they all ran off &/ or the negotiating team acting for CCC had no grip on Market Reality...EV or Book Value is (Mkt Cap + Debt-Cash)
Sadly in this market Buyers will only get interested in buying assets selling for less than Book Value.
So lets hope this is the bottom for CCC & a turn around is on the way..
then CCC is either Buy or Hold at these prices...
Otherwise.If the view for the Company is Administration..(IT is not mine) Suck it UP ,SELL quickly & Chalk it up to experience.Albeit a Bad one!
In any case ,for all Investors , this has been & continues to be a most tiring experience.
Good Luck to all Holders.
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