new research reports on ccc

Two prominent international groups release research on South African coal producer Continental Coal

Wednesday , 07 Mar 2012 Continental Coal

South African coal producer Continental Coal Limited ("Continental" or the "Company") is pleased to advise that in the past 24 hours research on the Company has been released by two prominent international groups.

The first note, from US firm Dahlman Rose & Co, under the title "Emerging Mid-Tier Thermal Coal Producer in South Africa" is an initiation of coverage with a BUY recommendation and price target of AUD$0.35 per share.

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The second research note, from UK firm Edison Investment Research, under the title "Investment summary: Strong H112 results" is a follow-up note on the Company following recent release of its H112 Results.

While not giving a recommendation or providing a price target, the analyst did make the following statement within the report:

Conticoal released upbeat semi-annual operating and financial results, posting its maiden positive EBITDA and after-tax profit. In the six months to December 2011, the company saw a 112% y-o-y increase in ROM coal output with export coal sales skyrocketing 380% and revenue rising 284% to A$49.9m. Along with the stellar top-line performance, the company showed stringent cost control, which supported positive EBITDA of A$3.0m compared to a A$28.5m loss in the corresponding period in 2010. All in all, these results reflect the company's success in streamlining its thermal coal business and should be further supportive of the stock.

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