I believe there will be some updates out shortly on production and some other corporate activity.
If the mines have continued to perform as they have been performing I would assume we could see some exciting figures or a least more record production and sales.
The annual report will be out soon as well so we will see how or where the company is sitting financially. Based on last year accounts I would expect some write downs to occur. In saying that we have I believe weather the bad storm so to speak and we should be seeing some blue sky from here on in.
One must also look at the balance sheet from a point of view that the past is behind us now and moving forward we will have strong cashflows to support borrowing instead of the constant issuing of shares.(my thoughts)
I do know the directors have been looking at restructuring all of the borrowings of the company as I have asked the question on many occasions. It is my belief that they are looking at this prior to the JSE listing or to coincide.
It is only my belief but I think that would sit well with the JSE listing.
Once the balance sheet is cleaned up and the debt has been restructured I believe this will free the company up to move forward and possibly look at acquiring some cheap assets that are in or close to production.
It just makes sense to capitalise on the strong local coal market while still expanding the export market.
They board has also announced they are discussing with various parties the sale of the none core. Unfortunately this sometimes takes longer than the directors would like as we saw in the past with Vanmag.
CCC Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
