Fundamentals further strengthening ,share price will follow. Just a matter of which day will the share price react. One thing to consider ,is that the cash flow Conti are producing will be very welcome for their development plans and short term funding needs .
From Proactive Investors UK.
Continental Coal accelerates development work at Penumbra
8:52 am by Philip Whiterow
The majority of the civil engineering work at Penumbra has been completed, Contintental Coal (LON:COOL) said today both its operating mines increased production in the first two months of 2012 while development work at Penumbra also sped up.
The South Africa-focused coal miner group said it has completed the majority of the civil engineering work at Penumbra, with emphasis now switching to the twin declines. These will have a final length of about 390 metres.
One of the declines will be equipped with a conveyor and the second will serve as a trackless equipment travelling route. Currently the conveyor road has advanced down 60m and the travelling road down 16m, the firm said.
Meanwhile, the Ferreira mine produced ROM 105,119 tonnes in January and February, a 14 per cent increase over budgeted levels.
Total production of 100,986 tonnes of a high quality export thermal coal product was achieved at the Delta Processing Operations, 16 per cent above budget while sales of 96,709 tonnes of high quality export thermal coal exceeded budget by 23 per cent.
The Vlakvarkfontein Coal Mine nachieved ROM coal production of 200,783 tonnes, a 1 per cent and 6.5 per cent increase on the average monthly ROM coal production in the December and September 2011 quarters respectively.
Continental has a 74 per cent stake in the two operating mines.
CCC Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
