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Mining Weekly reported that for the six months ended December 31, 2013, Continental Coal Ltd.’s (ASX:CCC,LSE:COOL) net loss attributable to members jumped by 146 percent, to AU$15.79 million.
Mining Weekly reported that for the six months ended December 31, 2013, Continental Coal Ltd.’s (ASX:CCC,LSE:COOL) net loss attributable to members jumped by 146 percent, to AU$15.79 million.
As quoted in the market news:
The company’s basic loss a share also increased to 2.29c from 1.37c previously, although its revenue increased by 28% to A$39.9-million during the six-month period.
Continental, however, pointed out that post December 31 it received A$5-million initial bridge funding as part of its recapitalisation strategy, adding that larger recapitalisation plans were also well advanced.
‘[As a result of the bridge funding], Continental has made key payments to current creditors and negotiated a three-month standstill period to recapitalise the group and restructure its financial arrangements,’ the company said.