"We’re quite advanced in talking to parties interested in...

"We’re quite advanced in talking to parties interested in restructuring/refinancing those notes. That will also expand our investor base and make it more institutional, which is critical for us,” Turvey told Mining Weekly Online.

Currently the company has a strong retail following mainly out of its main listings in Australia and London."

Strong retail following????????
You can only shake your head.

And as for Insto's. Well they have had a great old time on CCC. Haven't they. (Leading out shares to short for example)
Baycrest Capital LLC. Investec.
One could say they are part of the problem.

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So it seems VMR are taking on some of the con note debt.
I'm basing this on the below.

There are two notes convertable in Nov 13.
Interestingly if this is not sorted before end Nov.
VMR get 4,094,940 convertible notes after Nov. An extra $682,900 for the same $3,412,450 debt. ?????

"If these conditions precedent are satisfied before 30 November 2013, VMR will be issued with 3,412,450 convertible notes for assuming debt owed by the
Company of $3,412,450.

If the conditions precedent are satisfied after November 2013, VMR will be issued with 4,094,940 convertible notes for assuming debt owed by the Company of $3,412,450"

Why is this?????

Adding another 98,278,560 shares to the register.
(C&P 13%)

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For the first time that I have seen. They have told us who holds the $10,000,000 con note.

Susquehanna LLC

They have been given 10,681,818 in March of this year for interest payments. (Res 9)

Res 10 tells of even more dilution as Susquehanna LLC will get more shares oi lieu for another $500,000 interest payments.

"the deemed issue price will be 95% of the average market price for Shares calculated over the 30 days on which sales in the Shares are recorded before the day on which the issue is made or, if there is a prospectus, over the last 30 days on which sales in the securities were recorded before the date the prospectus is signed;"

That's another 18,796,999 more shares at today's price.
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Res 11.

On 20 March 2011, the Company entered into a Loan Agreement with a third party lender (Lender) to borrow up to $2,500,000 from the Lender (Lender Loan).
In satisfaction of part payment of the principal amount of $640,000 under the Lender Loan, the Company issued a total of 10,000,000 Shares to the Lender.

More shares to be issued for the rest of the principal????

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Res 12

In satisfaction of outstanding royalty amounts due to certain royalty holders pursuant to the Facility Agreement totalling $559,386, the Company issued a total of 11,802,894 Shares and 15,000,000 Options to certain royalty holders.

Note this was an outstanding amount due.
Coal production continues. More Royalty's to be paid.

Res 13.

Resolution 13 seeks Shareholder approval for the issue of up to that number of Shares, when multiplied by the deemed issue price, will equal $500,000, to
certain royalty holders of the Company in satisfaction of royalties that are due and payable pursuant to the Facility Agreement (Royalty Issue)

As with Res 9. Another 18,796,999 more shares at today's price to be issued.

Just on above. This adds 155m more shares.

And most of the con notes are still outstanding.

Dilution! Dilution! And more dilution!

Maybe CCC should be called DDD.