COOL Conti.Coal

 
TIDMCOOL 
 
10 October 2014 
 
Company Announcements Office 
Australian Securities Exchange 
Level 6, 20 Bridge Street 
SYDNEY NSW 2000 
 
Via E Lodgement 
 
                               Corporate Update 
 
The board of Continental Coal Limited (ASX:CCC; AIM:COOL)("Continental" or "the 
Company") wishes to advise shareholders that subsequent to the completion of 
the Rights Issue (see ASX announcement dated 30  September 2014) it has been 
presented with offers from third parties interested in acquiring its 74% 
interest in South African subsidiary Continental Coal Limited SA ("CCL SA"). 
 
The offers include proof of funds and are also of a quantum which provides for 
the satisfaction of key debts at both the parent and 74% subsidiary level 
(namely ABSA and EDF) in accordance with negotiations that have been ongoing 
since the new Board was appointed in February 2014. The offers (if accepted and 
completed) would leave the company with excess cash reserves at its disposal 
and the ability to pursue new opportunities that have been presented to it. 
 
Currently the Board is finalising legal advice with regards to a scenario 
whereby an accepted offer is announced and Shareholders are then offered the 
opportunity to have their funds returned from the Rights Issue, remain in a 
new raising by way of a supplementary prospectus or participate in the new 
raising given the change in circumstances which some Shareholders may want to 
participate in as opposed to the previous Rights Issue. 
 
It is expected that an announcement detailing the outcome of this 
consideration, together with advice received, will be released to the ASX and AIM on or 
before Tuesday 14 October 2014. 
 
For and on behalf of the Board 
 
Peter Landau 
Executive Director 
 
For further information please contact: 
 
Investors | Shareholders              Media (Australia) 
Peter Landau                          David Tasker 
Continental Coal Limited              Professional Public Relations 
T: + 61 8 9488 5220                   T: +61 8 9388 0944 
E: peter@conticoal.com                E : David.Tasker@ppr.com.au 
 
Nominated Advisor                     Brokers(UK) 
Oliver Morse/Trinity McIntyre         Jonathan Williams 
RFC Ambrian Limited                   RFC Ambrian Ltd 
T: +61 8 9480 2500                    T : +44 203 440 6817 
 
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 with a mining right granted in September 2013. 
 
Forward Looking Statement 
 
This communication includes certain statements that may be deemed 
"forward-looking statements" and information. All statements in this 
communication, other than statements of historical facts, that address future 
production, reserve potential, exploration drilling, exploitation activities 
and events or developments that the Company expects to take place in the future 
are forward-looking statements and information. Although the Company believes 
the expectations expressed in such forward-looking statements and information 
are based on reasonable assumptions, such statements are not guarantees of 
future performance and actual results or developments may differ materially 
from those in the forward-looking statements and information. Factors that 
could cause actual results to differ materially from those in forward-looking 
statements include market prices, exploitation and exploration successes, 
drilling and development results, production rates and operating costs, 
continued availability of capital and financing and general economic, market or 
business conditions. Investors are cautioned that any such statements are not 
guarantees of future performance and actual results or developments may differ 
materially from those stated. 
 
                            South Africa    Australia 
T +27 11 881 1420 F +27 862064487           T +61 8 9488 5220 F +61 8 9324 3400 
                       www.conticoal.com    www.conticoal.com 
 
9th Floor Fredman Towers, 13 Fredman Ground Floor, 1 Havelock Street, West 
                        Drive, Sandton 2196 Perth, WA 6005 
 
                PO Box 787646, Sandton 2146 PO Box 684, West Perth, WA 6872 
 
Interim Executive Chairman: Dr Paul D'Sylva Interim Executive Director: Mr Peter Landau 
 
Non-Executive Directors: Mr Connie Molusi and Dr Lars Schernikau 
 
 
 
 
 
END 
 

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