May 23rd 2012 - Edison Investment Research today published a report on Continental Coal entitled "Coking Coal Exposure". In summary, the report says:
Continental Coal (Conticoal) has signed an exclusive option agreement to acquire a 50% interest in a producing Colombian coking coal mine for US$15m. The final decision on the deal is subject to the successful completion of due diligence. The mine, which produces a high-quality hard coking coal (HCC), is understood to have a medium-term production potential of 0.5mtpa sold directly on exports. Given the high-quality product and the relatively undemanding price to be paid, we believe this asset should be a good addition to Conticoal’s growing coal project portfolio.
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