Continental Coal (ASX: CCC) has been valued at up to $0.56 per...

Continental Coal (ASX: CCC) has been valued at up to $0.56 per share, well over double the company’s current trading price of $0.19, by GMP Securities.

The investment dealer maintained its ‘buy’ rating on Continental and increased its price target from $0.52 after the company released the preliminary draft Bankable Feasibility Study for its De Wittekrans Coal Project.

When in operation the project is expected to produce over 0.8 million tonnes of export sales, over 1.7 million tonnes of domestic sales, and annual EBITDA in excess of US$50 million.

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Norman Vincent Peale