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0.1¢ continental coal limited

Please wear fireproof gloves when reading this prospectus, page-24

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riverbrae

2,515 Posts.

29/08/14

18:03

Post #: 13896776
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Originally posted by mogo77 ↑

And this,
"The Company currently owes $29,285,114 to creditors. Refer to Section 5.1 for details of the use of funds under the Offer. Shareholders should note that, if the Offer is not fully subscribed, the Company may be unable to meet its payment obligations to its creditors and meet short-term working capital requirements and, as such may not be able to remain a going concern."
Hmmm, I won't be opening my wallet.
Only positive I see is Coalers are re-rating on the expectation that the coal price low has been put in. If the price of coal does rise then it can only be good news for CCC's future if it makes it back onto the Bourse.
But with this dilution I think I'll have to reach Noah's age to see any benefit from this "investment" . . .

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Hi
mojo77

With the options at 9:1 and nobody taking them up (If that happens) existing shareholders are going to be left with less than 13% of a company that's almost broke.

Be laughable if it was not so serious
RB

CCC Price at posting: 2.0¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

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