CCC continental coal limited

time to buy, page-3

  1. 2,130 Posts.
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    Hope2008. I don't want to put you off having a try for the bottom. I know CCC is subject to some big rallies. But for me, what you've said is sort of true but a bit misleading if taken at face value.

    1. NTA 27c. If you mean net tangible assets, I'd say no. The majority of the assets are intangibles, capitalised dev/exploration expenses self generated and on acquisitions. The tangible assets, plant and equipment are in the books at $5m or about 1cent a share.

    2. Cash backing 5 cents. Well gross cash is 5cents. But cash banking would normally refer to net cash. Else you can just borrow more money and have higher cash backing! Here debt, including EDF, the convert and short term loans are about $27m exceeding cash balances.

    3. Free cash flow is projected at about $25m. I don't know about expected by many. Based on the companies free cash numbers for the two existing mines they should be generating $25. Instead they are only really covering group overheads. In theory they should move to cash generation of over $20m with Penn. But until they can explain the discrepancy between previous cash flow guidance and reality, I don't think many will price it in.


 
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