"During the 2009 financial year Continental Coal Limited may have acquired a controlling interest in the shares of Golden Falls Trading 565 (Proprietary) Limited. BDO have been unable to obtain the financial statements of Golden Falls Trading 565 (Proprietary) Limited nor sufficient evidence to determine if Continental Coal Limited owns a controlling interest in the shares of Golden Falls Trading 565 (Proprietary) Limited. As a result, there is no investment in relation to Golden Falls Trading 565 (Proprietary) Limited recorded by Continental Coal Limited. Due to this limitation of scope, we have not been able to determine what effect, if any, the recording of this investment in Golden Falls Trading 565 (Proprietary) Limited would have on the 30 June 2010 accounts of Continental Coal Limited, nor what effect, if any, non-consolidation of Golden Falls Trading 565 (Proprietary) Limited would have on the 30 June 2010 accounts of the consolidated entity."
CCC Price at posting:
18.5¢ Sentiment: None Disclosure: Held