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Continental Coal director increases shareholding in company

Continental Coal (ASX: CCC) executive director Jason Brewer acquired 63,333 shares indirectly at $0.19 per share on 14th October in an on-market trade.

The purchase was for a consideration of $12,166 and Brewer now holds an indirect stake of 475,000 shares and 5 million unlisted director options exercisable at $0.075 on or before 31 December 2013.

In September Continental Coal completed its debt funding and related coal, foreign exchange and interest risk management facilities to be used for the development of its Penumbra Coal Project, its third coal mine in South Africa.

The company has also recently commenced a 60 hole and 9,000 metre exploration program in Botswana, with drilling now underway at the Serowe Project and to commence shortly at the Kweneng Project.