any lawyers out there!!!

From Todays announcement

About Continental Coal Limited
Continental Coal Limited (ASX:CCC/AIM: COOL) is a South African thermal coal producer with a portfolio of projects located in South Africa’s major coal fields including two operating mines, the Vlakvarkfontein and Penumbra Coal Mines, producing approx. 2Mtpa of thermal coal for the export and domestic markets. A Feasibility Study was also completed on a proposed third mine, the De Wittekrans Coal Project.


From notice to the ASX on 16-11-2010

South African focused coal mining company Continental Coal Limited (ASX: CCC) (“Continental” or “the Company”) is poised to become the country’s latest export coal producer, following the settlement of the Company’s South African subsidiary Continental Coal Limited’s (“CCL”) acquisition of unlisted South African thermal coal mining and export coal producing company Mashala Resources (“Mashala”). The financial settlement of the acquisition of Mashala is a major milestone for Continental as it looks to establish itself as a successful mid-tier coal mining company producing 10Mtpa of run-of-mine thermal coal by 2015.

“The acquisition of Mashala will have a fundamental impact on Continental’s development path and profile in South Africa and will now allow us to become a significant exporter of thermal coal much earlier than we had originally planned.” Continental’s CEO, Don Turvey said. “


For newbies ,so that you know what earlier investors were expecting.

And that was before a 10 for 1 consolidation

And an explosive proliferation of shares

And have a look at the conditions and timeline in the latest announcement.

Where the heck is ASIC ??????????????????????????????

Sentiment is sell as there is no RUN