Conti.Coal Share Discussion Threads

[6kenny] 08/1/2014 00:11

Yep....game over...

[thiopia] 08/1/2014 00:02

They are still working on the refinancing. Given themselves a few more days by the looks of it.

[mayroad2] 07/1/2014 23:48

News out in Aus - looks like the games up

[saikat] 07/1/2014 15:15

And then there is Sioc-cdt with nearly twice the loan to Cool, `Plus' 26% of equity in subsidiary. Sioc-cdt is not insolvent and will not let noteholders get away easy - they may approach Sishen or Anglo for help worst comes to worst.

[the heed] 07/1/2014 14:38

I think we might not be quite sunk!...

Remember all the loan note holders ,creditors and royalty holders are unsecured behind EDF and ABBSA so in the event of liquidation they might not get alot if anything.. its in their interest for COOL to continue and be a success...

just saying.. the singer wearing the fat dress... can sit down!..

in fact, kindle exit the stage door and leave the theater!

[queenwood] 07/1/2014 14:26

howard you only created a profile on the 13th so go away lad c3 ime with you and i have my reasons :0)

[29howard] 06/1/2014 22:29

Missed this one, another topinfo pump and suspension lot how many is it now ?

[6kenny] 06/1/2014 21:51

Shame they can't last long enough to develop and sell De Witts....

[stockologist] 06/1/2014 21:50

The problem with loan notes is they could be traded and then you have no idea who holds them. If some got into the hands of a hedge fund they could short the equity with impunity as they have the leverage of the debt instrument to fall back on and could vote down any rescue proposal ?

Otherwise of course most lenders if it came down to it would want something rather than nothing.

[6kenny] 06/1/2014 21:44

Maybe this is tied into the JSX listing they mentioned recently. List on their at a rock bottom price and raise enough dough to continue for longer and hope coal prices rise ....

[code677] 06/1/2014 21:40

c31161, there's a tiny possibility our investment isn't lost but best to assume the worst in these cases. I recall AIM horror show Subsea Resources suspending pending clarification but coming back a month later after a placing & loan conversion at 75% discount to its 6-month average so an escape route is possible. (It then appointed administrators a year later after talks with loan holders broke down so maybe not the most reassuring example to use)

[6kenny] 06/1/2014 21:38

C3...

I hope you are correct...

[c31161] 06/1/2014 21:33

I think they have refinanced and even if it doesn't look that good I think it's now priced in, anything that looks positive could make the share price fly, remember there not that many people in at these low level so IMO it wouldn't take much buying pressure to make a huge difference, I'm hoping.

[6kenny] 06/1/2014 21:32

No need to be harsh or wish ill on people....I bought in at 5p...

[stockologist] 06/1/2014 21:31

mug punters were warned continuously...

cool debt

hxxp://hotcopper.com.au/post_single.asp?fid=1&tid=1936815&msgid=11320878

Trime61. Good on you for making some cash out of CCC. I don't follow it much any more but I don't think the negativity is just because people lost money. Its because of the problem that's been created at the hold co level which is where ordinary shares sit. Even if you think operations are ok the problem remains liabilities and no access to cash at the holdco level. (Personally I think thermal coal in SA not so hot anyway, I mean EBITDA is only flat and a plenty of cost below that line. CCC themselves had started to look at getting into coking coal before they moved into survival mode).

Have you read the replay of the GM from last year? This link probably works.

hxxp://kiwi6.com/file/11151opbxa

Its fairly topical I would say as the convert at that level is maturing and they mentioned in the report that they were looking to refinance it. How can they do that when they said that they can't upstream cash to the holdco? I don't know. Maybe something has changed but there has been no mention of it as far as I can tell. Just vague comments that bids have been received.

Anyway, just interested, are you factoring the holdco situation? Do you think its somehow been resolved?

Here some comments I made at the time:

Much more than their reputation on the line 5hareholder. They are saying that they have 6-8 weeks to close something or will have to do a massively discounted rights issue. Of course, with 10,000 holders they may not be able to do that anyway. As I've said before its not very clear that there is value at the holding company level to enable an underwrite at any price.

Pl actually said that the easiest thing to do would be a dilutitive rights issue to "solve all our problems". Obviously that would keep all their payments going, He's basically saying that he's doing shareholders a favour by trying to avoid that. Hence why he got irate at times.

They have revealed that there are $6m of holdco costs on top of need to pay out Mashalla and I assume the RR loan. There is currently no cash at that level and upstreaming cash is restricted both by the bank and BEE2. The people who described it as a ponzi scheme have been proven correct to some extent. They really need to keep issuing at hold co level to meet those expenses. The global expansion was supposed to be the latest story for issuance I think but shareholders rejected it this time. (Nice try JB, your a nice man).

Most the asset sale options such as selling down CCL, a process which has already begun, don't seem very advanced. He said Vanmag was 2 weeks away. People will laugh but he seemed pretty convinced it was possible and I think that is the only realistic hope of avoiding the worst case scenario her

[stockologist] 06/1/2014 21:31

The fool C31161 bought this at about 8p this time last year on a spike

I don't think with it at 1p he will have any great insight on it

[mrshaungcm] 06/1/2014 21:29

stuck wat was left in CHL
this is a ramp LOL

[6kenny] 06/1/2014 21:29

C3....


What is your take on today's RNS?

[c31161] 06/1/2014 21:27

So you mean you are worrying in case you sold out too early

[c31161] 06/1/2014 21:21

MrShaun you are just worrying in case you made a mistake selling

[6kenny] 06/1/2014 21:19

9 times out of 10 when you see that line in an RNS it's curtains....we'll find out on Wednesday...