Thanks. But I do understand accounting, I wont take offence to your comment, and recognize that like all other companies listed on the ASX they provide consolidated accounts and not parent accounts. Like you and I hope most I look into the detailed accounting notes to try to get a better understanding, such as the BEE shareholder loan that is shown as a loan on the consolidated accounts but will only be repaid on dividends from the subsidiary when CCC will receive dividends of 3 times that in return. And unfortunately it is true they will get the double hit of carrying 100% of those liabilities, when really it is as you say only 74% such as the loan at the Penumbra Mine
Definitely treating it with care which is why I wait for a turnaround in coal first and to see them get that new mine up to full sales levels. The numbers on the new mine look good against others in Australia and the hedging is good positive, but I think lots have to happen in coal sector first before any big movements . Does look like it is moving in right direction though that is why it has my interest. Very few coalies making money at mine over past year, even that one in NZ that Kiwi should know BTU cant make money and is almost down as much. Big boys like Whitehaven struggling and lots mines closed in Australia due to costs and low prices
CCC Price at posting:
3.7¢ Sentiment: Hold Disclosure: Not Held
