China Coal Corporation V.CKO

under value

[mewbuddy]

3. Deposits:The Company cumulatively paid $3,282,408 (2010: $312,715) as a refundabledeposit to Hami Zhongmei Energy Co., Ltd. ("Zhongmei"), the Company's jointventure partner to engage and pay for future exploration work on a certainproperty. This deposit was ultimately paid to the owners of the Yuan Feng CoalMine in the Xinjiang province, PRC, as the first payment required under anagreement to acquire a 60% interest in the coal mine. This acquisition is definedunder Exchange policy as a "Fundamental Acquisition" and is subject to TSXVenture Exchange acceptance, The deposit is either fully refundable or convertibleinto an approximate 9% working interest in the mine, should the transaction notclose as envisioned in the agreement.

[mewbuddy]

the deposit is refundable. and it has not much debt. just did a pp @ 5cents. looks CIBC cleared its entire position.

[Ziggy9999]

China Coal closes $209,799 private placement2011-12-14 17:38 ET - News ReleaseMr. Mark Roth reportsCHINA COAL CORPORATION ANNOUNCES THE COMPLETION AND FILING OF NON-BROKERED PRIVATE PLACEMENT FINANCINGChina Coal Corp., subject to TSX Venture Exchange final approval, has closed a non-brokered private placement, in total consisting of the sale of 4,195,996 units at a price of five cents per unit