potentail? sp falling? comparisons?

The SP is a function of a lot of things beside poor world markets. And making comparisons with similar companies is alway difficult.

Conti has a lot of unanswered questions, false promises, fluffy announcements that beg more detail, poor starts and lack of transparency IMO. Here are a few issues:

1. when is Penumbra really going to start and what is keeping it from commencing? (last we heard it was purely administrative and procedural in nature to get the land surface rights, right!) fully permitted???

2. drilling to commence in Botswana? was to start in June but no word on contracts for drilling team or commencement of exploration activities.

3. new BEE company, but no details yet? company wants approval to pay $5.4m worth of shares to current partner that owes in the order of $30m! very unusual business. A new BEE partner comes on board and pays part or all of the debt. We vote on this resolution on the 29th, only 7 trading days to let us know! maybe this resolution should be scrapped.

4. $25m funding facility - no details by whom? seems to be no real commitment here by the company to take it up.

5. Coal resources appeared to have shrunk? After Mashala was acquired the resource stood at 632Mt, now it is 565Mt. There is no detailed explaination as to why the resources have fallen by 12%. Vaalbank was previously quoted as having 54Mt measured, now zero measured...why? Project X had 25Mt, now only 14.6Mt. Investment decision were based on facts/figures which have now been downgraded with no explaination.

6. AIM market lisiting still slated for July? Not sure how this will be possible if 20 trading days are required from lodgement to listing. In order to list on the last day being the 29th the company would need to lodge no later than 1st July. Is the CPR completed?

7. How will the funding of the balance of the Mashalla acquisition be financed? Share issue on AIM?

8. Consolidation? After telling shareholders at the AGM last year that the consolidation wouldn't happen until the company was in a stronger financial position, I find it amazing that this is now being fast tracked.

Don't get me wrong I still like the story but have a few concerns, particuarly with timetables not being met and what I see as a lack of transparency in reporting. Hope this all improves. Not happy seeing a SP heading towards 4 cents!!!