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Friday, February 1, 2013 2:00 AM

31 January 2013

                REPORT FOR THE QUARTER ENDING 31 DECEMBER 2012                 

Continental Coal Limited ("Continental" or "the Company") is pleased to provide

its operations report for the quarter ended 31 December 2012.



* The Company now operates 3 thermal coal mining operations in South Africa

with a combined targeted ROM production rate of 2.8Mtpaof thermal coal

* First coal production and first export thermal coal sales completed from

the Company's newly commissioned 3rd mine, the Penumbra Coal Mine

* Run-of-mine thermal coal production for the Quarter of 468,469 tonnes from

    the Ferreira, Penumbra and Vlakvarkfontein Coal Mines
  * Thermal coal sales for the Quarter increased 10% quarter on quarter to
    449,203 tonnes
  * Run of mine coal production at the Ferreira Coal Mine increased by 44%
    quarter on quarter to 152,280 tonnes

* First drawdown of the ABSA Capital ZAR253m (approx. US$30m) seven year term

loan facility completed with funds to be applied towards the outstanding

    capital, mine equipment and working capital costs of the Penumbra Coal
  * Financial settlement of the first Penumbra Coal Mine hedge contracts

completed with proceeds of ZAR3.0m received demonstrating the benefit of

the Company's hedging program (664,550 tonnes of coal at an average price

    of ZAR1,057/t (approx. US$117/t))
  * Optimisation work on the De Wittekrans Project, the proposed 4th mine
    development, demonstrated the opportunity to enhance the technical and
    financial fundamentals with proposed exports of 2.4Mtpa of thermal coal
    over an initial 30 year mine life

* Renewal of the Company's three coal Prospecting Licenses in Botswana by the

Botswana Department of Mines for a further 2 years

* Settlement of the sale of the Company's interest in VanMag proceeds with

initial payment of approx. US$1m received and the US$9m balance due this


* Company continued with its negotiations with various parties in respect to

an acquisition and/or strategic joint venture of specific operating and

development projects, with the process to be concluded this quarter

During the second quarter of the 2012/13 financial year, the Company commenced
production from its Penumbra Coal Mine in South Africa. The commencement of
underground coal mining activities at the Penumbra Coal Mine, the Company's
third operating thermal coal mine, is a major milestone for the Company and all
its stakeholders.
In addition, the Company aachieved several major operational milestones at its
3 coal mining operations in South Africa, at its proposed 4th mine development
and at its exploration projects in Botswana.


Health and Safety

During the Quarter, no Lost Time Injuries were reported at any of the Company's mining and processing operations. Management, employees and the Company's contractors remain committed in ensuring continual improvement and focus on health and safety initiatives and policies across all its operations.

Coal Mine and Processing Operations

                        SEP 12         DEC 12         Change        FY 2013    
                       (Actual)       (Actual)    QTR on QTR (%)      YTD      
ROM Production                                                                 
Vlakvarkfontein        422,253        313,495          -26%         735,748    
Ferreira               105,757        152,280          +44%         258,037    
Penumbra                  0            2,694           n.a.          2,694     
Total ROM Production   528,010        468,469          -11%         996,479    
Feed to Plant                                                                  
Ferreira               161,648        161,605           0%          323,253    
Penumbra                  0            3,260           n.a.          3,260     
Total Plant Feed       161,648        164,865          +2%          326,513    
Export Yields                                                                  
Ferreira                69.8%          66.2%           -5%           68.0%     
Penumbra                 0.0%          26.2%           n.a.          26.2%     
Domestic Sales         296,395        351,264          +19%         647,659    
Export Sales           111,811         97,939          -12%         209,750    
Total Coal Sales       408,206        449,203          +10%         857,409    

During the Quarter, the Company's operations continued largely unaffected by
the industrial action that was experienced in South Africa with strikes at a
number of platinum, gold, iron ore, coal and diamond mines.
The Company experienced no striking action at any of its operations and during
the Quarter successfully concluded its wage negotiations at its Ferreira Coal
Mine and Delta Processing Operations without any days lost to strikes.
Run-of-mine ("ROM") thermal coal production of 468,469t was achieved from the
Vlakvarkfontein, Ferreira and Penumbra Coal Mines over the Quarter. Total
thermal coal sales of 449,203t were 10% above the previous quarters sales of
Vlakvarkfontein Coal Mine

The Vlakvarkfontein Coal Mine produced 313,495t for the Quarter, a 26% reduction on the record 422,253t ROM achieved in the previous quarter.

Total thermal coal sales during the Quarter from the Vlakvarkfontein Coal Mine
were 351,264t, a 19% increase on the 296,395t in the previous quarter and 7%
above budget. Record monthly sales of 153,072t were achieved in November 2012,
improving the previous monthly record of 112,088t delivered in May 2012.
The above budget coal sales made during in the Quarter were achieved despite
the national road transport strike in South Africa early in the Quarter, which
meant that coal could not be transported from the mine site by Eskom's road
haulage contractors for a 3 week period.

Sales during the quarter comprised 244,033t for Eskom and 107,431t of non-select coal sales.

The Vlakvarkfontein Coal Mine is forecast to exceed budgeted ROM production and thermal coal sales for FY2013.

Year to date mining costs at the Vlakvarkfontein Coal have averaged ZAR76/t ROM
(approx. 24% below budget). Total FOT costs year to date have averaged ZAR125/
sales tonne (approx. 11% below budget). Average sales price received year to
date was ZAR181/t.
Ferreira Coal Mine

ROM coal production at the Ferreira Coal Mine for the December 2012 quarter totaled 152,280t. Quarter on quarter an increase of approx. 44% was achieved, from the 105,757t of ROM coal produced in the previous quarter.

The increase in ROM production followed the establishment of the new opencast
mining operations in the adjacent and adjoining Prospecting Rights that were
acquired in April and May 2012 and for which the Company received approval from
the Department of Mineral Resources to develop in September 2012.
During the December 2012 quarter, ROM coal production increased from 38,433t in
October 2012 to 57,551t in December 2012. ROM coal production in December 2012
was the highest monthly production to date in FY2013 and was achieved despite
the seasonal holidays. Monthly ROM production at the Ferreira Coal Mine has now
increased for the past 5 consecutive months.
ROM coal production for the Quarter, exceeded budget and exceeded the ramp up
production profile advised in the September 2012 Quarterly Report, where
125,000 tonnes and 150,000 tonnes of ROM coal production were forecast for the
December 2012 and March 2013 quarters.
Year to date mining costs at the Ferreira Coal Mine have averaged ZAR264/t ROM
(approx. 12% below budget). Total FOR costs year to date have averaged ZAR563/
sales tonne (approx. A$63/t and 12% below budget) with total FOB costs to
Richards Bay Coal Terminal of ZAR689/sales tonne (approx. A$77/t).

Penumbra Coal Mine

During the Quarter first ROM production and first thermal coal sales were achieved at the Penumbra Coal Mine.

The decline development contractor, Murray & Roberts completed the decline development, with the twin declines to a full face of the C-Upper and C-Lower Coal Seams in mid December 2012.

ROM production of 2,694t was achieved during the Quarter from the Penumbra Coal Mine.

All underground production mining equipment was delivered to site during the
Quarter, with the first of the two 14HM15 Joy Continuous Miners successfully
commissioned and in operation by the end of the Quarter. First production coal
of the C Lower Coal Seam was cut with the Continuous Miner on 17 December 2012.

ROM production is forecast to increase in the current quarter with the commissioning of the second Continuous Miner.

In FY 2013, sales of approx. 200,000t of a high-quality export thermal coal are forecast from the Penumbra Coal Mine at total free-on-board (FOB) costs of ZAR471/t (approximately US$55/t) and forecast to generate approx. US$17m in revenue this financial year.

Revenue from the Penumbra Coal Mine is forecast to rise to approx. US$45m in
FY2014 on full year export thermal coal sales of 500,000 tonnes, and generating
between US$15m and US$20m of forecast cashflow based on current export coal
The Penumbra Coal Mine is approx. 90% complete with a total forecast cost to
complete of ZAR325m (approx. A$39m). Remaining underground capital development
and surface infrastructure is forecast to be completed by April 2013. The mine
capital development is forecast to be completed within the approved budget with
no identified cost overruns.

Delta Processing Operations

During the Quarter a total of 164,865t was processed through the Delta Processing Operations, 2% above the previous quarters 161,648t of ROM processed. Feed to the plant was primarily from the Ferreira Coal Mine, with 161,605t and 3,260t from the Penumbra Coal Mine.

Export yields of 66.2% for the Ferreira Coal Mine and 26.2% for the Penumbra
Coal Mine were achieved. Export yield for coal from the Penumbra Coal Mine is
forecast to increase in the current quarter towards the budgeted 67.0%.

Export thermal coal sales of 97,939t was railed and sold FOB Richards Bay Coal Terminal during the Quarter.


De Wittekrans Coal Project

During the Quarter the Company announced the preliminary results from optimisation work completed on the De Wittekrans Coal Project.

The results of the initial optimisation work are summarized below.

                                    Initial        Optimisation      Change    
                                   Feasibility       Results                   
                                 Study Results1                                
Reserves and Mine Life                                                         
Mine Life                           33 years         33 years           -      
Saleable Reserves                    43.8Mt           43.8Mt            -      
Gross In Situ Resources              167.0Mt         167.0Mt            -      
Run of Mine (ROM) Production                                                   
Annual ROM Production                 3.6Mt           3.6Mt             -      
Total Open Cast ROM Production        6.1Mt           6.1Mt             -      
Total Underground ROM Production     110.0Mt         110.0Mt            -  
Primary Wash Plant Yields (%)                                                  
Open Cast Primary Yield              29.16%           78.00%          +167%    
Underground Primary Yield            26.26%           75.00%          +186%    
Coal Sales                                                                     
Annual Domestic Coal Sales        1.7Mt (Eskom)         -               -      
Annual Export Coal Sales              0.8Mt           2.4Mt           +200%    
                                   (6 000 kcal     (5 000kcal                  
                                     Export)         Export)                   
Forecast Sales Revenue                                                         
Annual Domestic Coal Sales          ZAR 306m            -               -      
Annual Export Coal Sales            ZAR 645m        ZAR 1,292m        +100%    
Total Annual Sales Revenue          ZAR 951m        ZAR 1,292m        +37%     
Estimated Operating Expenses                                                   
Average Unit Operating Expenses   ZAR 140/t ROM   ZAR 251/t ROM       +76% 
Average Operating Expenses          ZAR 614/t    ZAR 367/t Export     -30%     
Estimated Capital Costs                                                        
Total Capital Costs to First        ZAR 342m         ZAR 161m         -53%     
Surface Infrastructure and          ZAR 554m         ZAR 444m         -20%     
Coal Wash Plant                     ZAR 308m            -               -      
Underground Development             ZAR 838m         ZAR 838m          0%      
Forecast Cashflow                                                              
Annual Free Cashflow After Tax      ZAR 215m         ZAR 276m         +28%     
Assumes ZAR:USD of 8.75:1, Eskom coal sales at ZAR9.00/GJ, 6 000kcal API4 coal
price of US$90/t and a 30% discount in pricing to API4 for the 5 000kcal Export

1 Feasibility Study Results have been updated based on the revised exchange rates and export thermal coal prices above.

The optimisation work has confirmed the potential to substantially improve the project economics and reduce the capital expenditure identified in the 2011 Feasibility Study to bring the De Wittekrans Coal Project into production.

The work has identified the opportunity to develop the De Wittekrans Coal
Project to be a major exporter of up to 2.4Mtpa of a thermal coal product,
ideally suited for the Asian Coal Market, over an initial 30 year mine life. As
a result total annual sales revenue have been forecast to increase by over 35%
to up to approx. US$145m p.a. and annual forecast free cashflow after tax
increases by approx 30% to up to approx. US$30m.

The work has demonstrated that the De Wittekrans Coal Project is a significant asset that has the potential to become the Company's "flagship" project.

Based upon the preliminary results of the optimisation and infrastructure study
work completed, the Company plan to appoint an independent technical consultant
to update the 2011 Feasibility Study. The Company believes that the results
from the initial optimisation work done to date have indicated the potential
for further improvements to be achieved through this process.



During the Quarter, the Company announced that the Botswana Department of Mines
had approved the renewal of the Company's three coal Prospecting Licenses in
Botswana for a further 2 years.

Through its Botswana subsidiary, Weldon Investment (Pty) Ltd, the Company holds three coal prospecting licenses that cover an area of approx. 475kmĀ². The Prospecting Licenses, PL339/2008 and PL340/2008 are together known as the Serowe Coal Project, whilst PL341/2008 is known as the Kweneng Coal Project.

The Company's licenses are considered very well located strategically, with the
Serowe Coal Project located immediately north of Botswana's only major
producing thermal coal mine, the Morupule Coal Mine, whilst the Kweneng Project
is 25kms west of CIC Energy's Mmamabula Coal Project that was recently acquired
by Jindal Steel and Power Ltd of India for US$116m.

In August 2012 following completion of its Phase 1 drilling program, the Company announced a maiden JORC Compliant Inferred Resource of 2.2 Billion Tonnes on the Kweneng Coal Project and a further Exploration Target in excess of 9 Billion Tonnes across both the Kweneng and Serowe Coal Projects.

The renewal of the Prospecting Licenses for a further 2 years now allows the
Company to finalise its proposed Phase 2 exploration drilling program across
both the Kweneng and Serowe Coal Projects with the principle aims being to
increase existing resources, increase the level of confidence in the extent,
continuity and quality of the known resources as well as to convert a
significant portion of the Exploration Target into JORC compliant resources on
the Serowe and Kweneng Coal Projects.
The renewal of the Prospecting Licenses will also allow the Company to advance
its discussions with several strategic parties that have already expressed an
interest in participating in the Company's exploration activities across the
Serowe and Kweneng Coal Projects.

[1] It should be noted that the Exploration Target at the Serowe and Kweneng Projects is conceptual in nature as there has been insufficient exploration to define a Resource and that it is uncertain if further exploration will result in the determination of a Resource. To delineate a resource that is JORC Compliant will require significant more levels of drilling.


Settlement of VanMag and Acquisition of Minority Shareholders In Mashala Resources

During the Quarter, the Company announced that settlement of the sale of its
shareholding in Vanadium and Magnetite Exploration and Development Co (SA)
(Pty) Limited ("VanMag") had proceeded with an initial non-refundable payment
by the purchaser of approx. US$1m. Final settlement of the US$9m balance is to
be made in the current quarter.
The proceeds received were used to meet part of the ZAR76m purchase price for
the outstanding minority interests in Mashala Resources ("Mashala") not already
held by the Company's principal subsidiary in South Africa. Final payment of
the outstanding interests is scheduled on 28 February 2013 and is to be made
from the US$9m due from the final settlement of the VanMag transaction.

ABSA Capital Debt Facilities

The Company completed the first drawdown of its secured debt project finance
facility with ABSA Capital. The ZAR253m (approx. US$30m) seven year term loan
facility and ZAR17.5m (approx. US$2.1m) standby facility are limited recourse
debt facilities that are to be used to fund the outstanding capital, mine
equipment and working capital costs associated with the development and
commissioning of the Penumbra Coal Mine.

An initial drawing of ZAR132m was made by the Company during the Quarter. Further drawings of the term loan facility are scheduled in the current quarter.

Repayment of the term loan facility is scheduled to commence in August 2014, with subsequent quarterly repayments averaging US$1.3m to be made from operating project cashflow up to November 2019.

As part of the ABSA Capital Debt Facilities the Company has implemented a coal
and foreign exchange hedging program to mitigate its exposure to a sustained
fall in US$ coal prices or an appreciation of the ZAR:US$. The hedging program
comprises 664,550t of coal over the life of the term loan facility at an
average price of ZAR1,057/t. As at the end of the Quarter the hedging was
approx. ZAR8.6m (A$0.9m) in-the-money. The Company has further entered into an
interest rate swap to mitigate its exposure to a rise in interest rates.

During the Quarter, financial settlement of 12,900t of coal hedge contracts was completed and a hedging gain of ZAR3.0m (approx. A$0.36m) was realised.

Acquisition and Direct Investment in the Company's South African Coal Assets

During the Quarter a due diligence and bidding process was completed with a
number of Indian based coal and power utility companies, major global commodity
trading and private equity groups with offers received for the Company's
interest in its South African business and for acquisition and/or joint venture
of specific operating and development projects.

Negotiations in respect to these offers continued throughout the Quarter.

In addition following the Company's announcement of the positive optimisation
study on the De Wittekrans Coal Project in November 2012, a number of further
interested parties approached the Company in regards to a potential long-term
off-take agreement, strategic partnership and funding and/or joint venture
arrangement on the project.

The Company has been encouraged by the high level of interest in the De Wittekrans Coal Project from these parties and is currently progressing its discussions with these parties.

An update is planned to be made in the current quarter on these discussions and negotiations.


Summary financial and operating results for the Ferreira, Penumbra and Vlakvarkfontein coal mining operations for the FY2013 year to date are provided below.

Detailed financial data for the 6 month period up to 31 December 2012 will be
included in the Half Yearly Results and audited financial review to be released
on or before 28 February 2013.
                  MINE OPERATIONAL AND FINANCIAL PERFORMANCE                   
                          2013 FINANCIAL YEAR TO DATE                          
                            Ferreira           Penumbra        Vlakvarkfontein 
                            Coal Mine          Coal Mine          Coal Mine    
OPERATIONS (tonnes)                                                            
ROM Production               258,037             2,694             735,748     
Feed to Plant                161,648             3,260                -        
Export Yields                 68.0%              26.2%                -        
Coal Sales                                                                     
Export Sales                 208,896              854                 -        
Eskom Sales                     -                  -               540,328     
Other Sales                     -                  -               107,331     
Total Sales                  208,896              854              647,659     
FINANCIAL (ZAR'000)                                                            
Export Sales                 144,792             3,671                -        
Domestic Sales                  -                  -               113,149     
Other Sales                     -                  -                3,827      
Total Revenue                144,792             3,671             116,976     
Production Costs                                                               
Mining Costs                 68,104              1,826             55,769      
Processing Costs             22,857               177              12,102      
Materials Handling            3,060               50                  -        
Indirect Costs                6,092              2,845              2,368      
Export Costs                 26,379               126                74        
Bought in Coal Costs           625                 -                  -        
Administration Costs          4,895                -                5,126      
Stock Movement               12,516                -               (1,878)     
Total Production Costs       144,528             5,024             73,562      
Gross Profit                   263              (1,353)            43,415      
Financial performance at the Ferreira Coal Mine reflects the increased costs
associated with the new mine development into the adjacent and adjoining
Prospecting Rights as well the impact of the delay in obtaining the Section 102
application which limited production in the September 2012 quarter. Sales for
the quarter were impacted with only 12 of a budgeted 15 trains railed to RBCT.
The financial performance of the Ferreira Mine is forecast to improve as steady
state operations are achieved this quarter.
Financial performance at the Penumbra Coal Mine reflects commencement of ROM
coal production and first thermal coal sales late in the Quarter. The Penumbra
Coal Mine is forecast to be cashflow positive this current quarter with
forecast ROM coal production of 95,000t increasing to 185,000t in the June
quarter. The Vlakvarkfontein Coal Mine is forecast to continue to perform
strongly in the current quarter with thermal coal sales to Eskom of approx.
For the Quarter, based on the unaudited management accounts, the Company
reported sales revenue of A$14.4m, total production costs of A$12.7m and a
gross profit of A$1.7m. Revenue for the Quarter of A$14.4m was 7.7% lower than
the previous quarter, total production costs were in line with the previous
quarter. Group EBITDA year to date of A$0.9m was achieved. EBITDA is forecast
to improve over Q3 2013 and Q4 2013 with the Penumbra Coal Mine increasing
production and the Ferreira Coal Mine achieving steady state production in the
newly developed adjoining Prospecting Rights.

The Company continues with its various initiatives that it has implemented in the previous quarters to counter the impact of lower export thermal coal prices. The Company believes that these initiatives will result in improved earnings in Q3 2013 and Q4 2013.

Total cash and cash equivalents as at the end of the Quarter was approx. A$4m.
The Company has available approx. A$13m under the ABSA Capital Debt Facilities
to fund outstanding capital expenditure and working capital costs associated
with the development and commissioning of the Penumbra Coal Mine. During the
Quarter the Company progressed discussions with financiers regarding the
establishment of a Standby Funding facility for up to A$15m, and a refinancing
of its existing convertible note facilities.

Yours faithfully
Don Turvey
Chief Executive Officer

For further information please contact:

Investors/ shareholders                                         
Jason Brewer                              Don Turvey             
Executive Director                        Chief Executive Officer                            
T: +61 8 9488 5220                        T: +27 11 881 1420                                                           
E: admin@conticoal.com                                                                                         
W: www.conticoal.com                                                         
Media (Australia)                         Media (UK)                           
David Tasker                              Mike Bartlett/Jos Simson            
Professional Public Relations             Tavistock Communications         
T: +61 8 9388 0944                        T: +44 20 7920 3150                  
Nominated Advisor                                                              
Stuart Laing                                                                                          
RFC Corporate Finance                                                                                    
T: +61 8 9480 2500                                                             
Joint Brokers                             Joint Brokers                        
Mark Wellesley-Wood / Chris Sim           Andrew Young                     
Investec Bank plc                         GMP Securities Europe LLP                                        
T: +44 20 7597 4000                       T: +44 20 7647 2800         

About Continental Coal Limited

Continental Coal Limited (ASX:CCC/AIM: COOL/US-OTCQX:CGFAY) is a South African
thermal coal producer with a portfolio of projects located in South Africa's
major coal fields including three operating mines, the Vlakvarkfontein,
Ferreira and Penumbra Coal Mines, are set to produce at an annualised rate of
2.8Mtpa of thermal coal for the export and domestic markets. The Company's
first underground mine, the Penumbra Coal Mine, commenced development in
September 2011 and produced first coal in November 2012. In 2011, a Feasibility
Study was also completed on a proposed fourth mine, the De Wittekrans Coal
Project and further optimisation studies completed in 2012. The Company has
further concluded strategic off-take and funding agreements with EDF Trading
for its export thermal coal production, signed a joint development agreement
with KORES, Korea Resources Corporation and secured debt funding from ABSA
Capital to fund its growth.

Competent Persons Statement

The information in this report that relates to the Coal Resources and Reserves
has been prepared in accordance with the Australian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves as published by the
Joint Ore Reserves Committee (JORC Code). The Australasian Joint Ore Reserves
Committee (JORC) and the JORC Code requires that Competent Persons must belong
to the Australasian Institute of Mining and Metallurgy (AusIMM), or the
Australian Institute of Geoscientists (AIG), or a Recognized Overseas
Professional Organisation (ROPO). ROPOs are professional organisations that the
ASX, acting on advice from JORC and its parent organisations, accepts as bodies
to which Competent Persons may belong to for the purpose of preparing
documentation on Exploration Results and Mineral Resources, on which reports to
the ASX are based. The South African Council for Natural Scientific Professions
(SACNASP) as well as the Geological Society of South Africa are considered as
The information in this report that relates to Exploration Results and Coal
Resources is based on data and coal resource estimates completed by Mr. Nico
Denner, a full time employee of Gemecs (Pty) Ltd. Mr. Denner is a member in
good standing of the South African Council for Natural Scientific Professions
(SACNASP No. 400060/98) as well as a Member and Fellow of the Geological
Society of South Africa. He has more than 15 years' experience in the South
African Coal and Minerals industries. Mr. Denner has sufficient experience
which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined by the 2004 Edition of the `Australasian Code of
Reporting of Exploration Results, Mineral Resources and the Ore reserves.
Within the constraints mentioned above, all work undertaken by Mr. Denner and
related to the resource estimate was carried out following industry best
practice standards using the South African Code for Reporting of Mineral
Resources and Mineral Reserves (the SAMREC Code, 2007) in conjunction with the
South African guide to the systematic evaluation of coal resources and coal
reserves (SANS 10320:2004) as a basis. As such the resource statements
contained in this report may be considered compliant with the JORC Code. Mr.
Denner consents to the inclusion in the ASX release of the matters based on his
information in the form and context in which it appears.

Forward Looking Statement

Certain statements made during or in connection with this communication,
including, without limitation, those concerning the economic outlook for the
coal mining industry, expectations regarding coal prices, production, cash
costs and other operating results, growth prospects and the outlook of
Continental's operations including the likely commencement  of commercial
operations of the Penumbra and De Wittekrans, its liquidity and the capital
resources and expenditure, contain or comprise certain forward-looking
statements regarding Company's development and exploration operations, economic
performance and financial condition. Although Company believes that the
expectations reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have been correct.
Accordingly, results could differ materially from those set out in the
forward-looking statements as a result of, among other factors, changes in
economic and market conditions, success of business and operating initiatives,
changes in the regulatory environment and other government actions,
fluctuations in coal prices and exchange rates and business and operational
risk management. For a discussion of such factors, refer to the Company's most
recent annual report and half year report. The Company undertakes no obligation
to update publicly or release any revisions to these forward-looking statements
to reflect events or circumstances after today's date or to reflect the
occurrence of unanticipated events.
It should be noted that the Exploration Target at the Serowe and Kweneng
Projects is conceptual in nature as there has been insufficient exploration to
define a Resource and that it is uncertain if further exploration will result
in the determination of a Resource. To delineate a resource that is JORC
Compliant will require significant more levels of drilling.
                           South Africa Australia                              
  T +27 11 881 1420 F +27 11 881 1423 W T +61 8 9488 5220 F +61 8 9324 2400   
                      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         
 Independent Non-Executive Chairman Mike Kilbride Chief Executive Officer Don  
                    Turvey Executive Director Jason Brewer                     

Non-Executive Directors: Johan Bloemsma Peter Landau James Leahy Connie Molusi

(Source: PR Newswire )
(Source: Quotemedia)


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