Quite an interesting read. Continental Coal South Africa and its...

Quite an interesting read.

Continental Coal South Africa and its wholly owned  subsidiary  companies - MashalaResources and Penumbra Coal Mining - entered into business rescue proceedings in terms of Chapter 6 of the Companies Act, 71 of 2008 in November 2014. The court appointed business rescue practitioners initiated a sale process on the Penumbra asset in February 2015, with IchorCoal being selected as preferred bidder for Penumbra following approval of the business rescue plan at a meeting of creditors on 14 April 2015.