why are we here?

Here are two of many reasons as i had to remind myself.

1: Penumbra
Key Points:
Acquired by Continental in November 2010
Located 3km from Ferreira mine and Delta Processing Operations
Conventional underground thermal coal bord and pillar mining operation
Feasibility study considered very conservative with opportunity to extend mine life to +20 years
Capital development costs of ZAR284m (~A$40m) to be funded from existing cash, operating cashflow and debt facility
Tender process for the awarding of the 12 month mine development contract to full production well advanced
Civil contract to be awarded in January 2011, with portal development to commence in February 2011

2:Botswana
Overview
Continental has interests in 3 Prospecting Licenses in Botswana
Prospecting licenses cover an area of 964km?over Botswana?s coalfields
Botswana?s coalfields are considered highly prospective and are largely an extension of South Africa?s Waterberg coalfield
Botswana?s coalfields are estimated to contain 212Bt of thermal coal, approx. 65% of Africa?s total coal resources
Prospecting licenses were awarded to Mashala?s wholly owned Botswana subsidiary, Weldon Investment (Pty) Ltd in February 2009
Independent geological consultants have determined an Exploration Target* of between 6‐7 Bt of coal of which 2.7 Bt of coal was identified to be at shallow to moderate depth
Planning for a ZAR20m, initial exploration and drilling program is currently being finalised by the Company?s geological consultants
RC drilling is forecast to commence early in the June 2011 Quarter
Completion of initial drill program and the release of results is forecast over the September and December 2011 quarters
First coal from Penumbra underground mine from Q4 2011 from mining the C-lower seam at an average height of 1.8m and depth of 50m - 115m
Targeted export sales of 500,000t
Budgeted export sales for 2012 calendar year of 500,000t
Average forecast export margins of between US$50/t to US$60/t based on current export coal prices