[miningmx.com] – CONTINENTAL Coal said it had submitted documents to the Johannesburg Stock Exchange ahead of its planned listing, but said the timing of its debut turned on refinancing of the company.
“The company has recently submitted its draft pre-listing statement to the Johannesburg Stock Exchange for review. The listing timeline will be impacted by the timing and structure of the refinancing of the company’s convertible debentures,” the company said in an announcement.
The refinancing of the debentures is being studied by a specially comprised finance committee established by Continental Coal. “The committee will be evaluating the funding structures under review against stringent criteria,” it said.
A further progress announcement on the refinance will be made in December 2013, said Continental Coal.
