our new conti

So when it's all said and done we have received $20,000,000 in exchange for placing:
23,496,240 Tranche 1 shares
27,901,786 Tranche 2 shares
2,000,000 (Not sure why they distinguished these from the other lot?)

53,398,026 in total which represents 14.33% of our issued capital (at this stage)

Then you got the options
Tranche 1 of 11,748,120 exercisable for 4.4c each which would bring in $516,917
Trance 2 of 13,950,893 exercisable for 4.122c each which would bring in $613,839

If they choose to exercise their options total contribution from Socius will be $21,130,756 for shares of 79,097,039 which makes their effective entry price

26.71c

But wait, there's more. With regards to the repricing shares if we close below 34.2c on the 5th trading day after the consolidation we will be giving away more shares to Socius as well as options...for free!
Their entry price would probably end up around 25c per share or 2.5c on the old scale.

So their incentive to drive the share price down is much larger now because for every 1c lower they get more FREE shares+options.
Let's hope we are all wrong about their intentions and they stay put for a few years and maybe even buy on market.

Our shares on issue accounting for all of Socius shares to date will be 372,662,067 so our market cap at 3c for the next few days should be $111,798,620. I say for the next few days as we will be giving away some shares for the listing to one of the brokers from memory and we may be giving more to Socius.

If all of the options as per the last Appendix 3B are exercised we will have 479,204,759 shares on issue and that doesn't include the 12,000,000 of options due in Oct 2011 (for NKP i think) nor any repricing shares to Socius, UK brokers or Turveys incentive shares+options.

Sorry for the long post but it's important to know exactly what beast we are dealing with post consolidation. For all my bitching and complaining about the Socius deal it's time to move on and focus on the real Conti Coal.

Most consolidations doesn't work because the aim of the consolidated company is to issue more shares to fleece shareholders, simple as that.
You'll know when you are invested in one of these companies because they usually have 1 asset which was acquired midway through the boom of that particular commodity, some of the key staff change frequently so lots of resignation/appointment notices, cashburn is higher for administration v's exploration etc etc, and in the rare case that an asset comes to be worth something the company will be brought to the bring of insolvency on purpose only to be salvaged by a private equity fund buying out the particular asset for a bargain which gives the company enough cash to buy some new ground and the show starts all over again.

But on the other hand, every now and then you get a GEM line CCC who have the goods from assets to management (at least in SA) and a consolidation is the big piece of the puzzle that needs to be complete if they are to be taken seriously as a mining company. Like it or not, the perception is totally different when you talk about a share trading at 3c v's 30c...simple as that. How many of you just now looked at that 372m shares on issue and said to yourself, that's not so bad?? Or how many of you get weird looks when you tell you mate about the next big thing, CCC, trading at 3c per share. Perception is reality.

If we are ever to get to the elusive $1 mark/party/group hug we need a company valued at $372m.

What would justify such a valuation?
In my opinion that's Conti with Kenya in the bag, Penumbra starting to produce, De Wit at constructing stage, Ferrier with extended mine life, Botswana with some good exploration and most important of all, export price staying over $100 USD p/t.

Then further drivers to the $500m to $1b mark you got De Wit producing, the JV with Koreans, potential JV for Kenya, additional acquisitions in SA and surrounding regions, (maybe coking coal too), further increases in export and domestic price, more substantial holder notices, sale of Botswana....

We may have a little more pain to go through until the AIM listing but after the 20th of Sep there should not be anyone left that would have an interest in driving the share price down.
By the end of December 2011 we'll have a fair idea of what the real market thinks of CCC.