I believe DT's job is to protect ABSA's investment in Mashala.
ABSA has given CCC a chance, but it isn't working out.
In the meantime DT has improved the BBBEE partner and Penumbra has first coal due before Xmas. DT has a new CFO and new board members ready to takeover if/when needed.
No cash can be sent upstream for at least the next year to CCC, but CCLSA can muddle through.
DT has been the only full time executive at CCC/CCLSA for the last 2 years.
I think it was bmloho who said it awhile ago that this is poised for a change of control. I agree and unfortunately for CCC shareholders I don't see any premium for that change of control.
SIOC-cdt has 26%, Mashala minority holding outstanding is about 14%. It won't take much now for control to pass hands especially if some debt needs to be settled.
CCC Price at posting:
7.3¢ Sentiment: None Disclosure: Held
