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Why the big drop today?

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Jechlojoes
Contributor
Anybody got any comments on why this share is taking such a beating toaday?
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5 REPLIES 5
AJT
Super Contributor
from Reuters - JOHANNESBURG (Reuters) - South Africa's Mpumalanga provincial government has ordered Coal of Africa to address environmental concerns at its Mooiplaats colliery or face closure, a company official said on Wednesday - more available on the "key market statistics" option...
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CHATTYCHAT
Super Contributor
on sens: RESPONSE TO MEDIA ARTICLE REGARDING MOOIPLAATS COAL the coal mining and development company operating in South Africa (ticker: CZA) and listed on the AIM, ASX Limited and JSE Limited, notes recent press articles published by media in South Africa on 3 November 2010 regarding the Company's activities at the Mooiplaats Colliery in Mpumalanga. The Company acknowledges that it has received a notice from the Department of Economic Development, Environment and Tourism, Mpumalanga ("Department"), noting its intention to issue a Compliance Notice in terms of section 31L of the National Environmental Management Act in relation to activities undertaken by the Company on portions 1 and 9 Farm Mooiplaats 219 IT in Ermelo ("Notice"). However CoAL would like to take this opportunity to state that, contrary to the media reports, it has not been asked to stop activities at the mine. Pursuant to the terms of the Letter, CoAL may make an application for rectification within 10 days of receipt of the Letter, being 11 November 2010, following which the Department has stated that it may decide not to issue the Company with a Compliance notice A detailed response will be issued in due course AUTHORISED BY:JOHN WALLINGTON Chief Executive Officer
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Quakedog
Super Contributor
This one will make you feel rotten!! Bad invest!
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WR
Regular Contributor
sjoe..hope not. they must fix and get going
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jakon
Occasional Contributor
What do you all sugest? im down 15% after the drop. Keep for a couple of months and ride the storm or get out? Its only part of my portfolio so can keep it for a while.. help!
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