Miner Continental Coal suspends shares STRUGGLING junior miner Continental Coal has warned it may have to call in a voluntary administrator if it cannot recapitalise the company. The Perth-based company today requested a voluntary suspension of its shares as it struggles to recapitalise to settle its convertible notes that mature from November 2013 to February 2014, as well as other creditors. It if cannot refinance its debt, the company said it would not have the funds to meet its repayment obligations. It said talks with the note holders and other creditors had failed to produce a solution all parties could agree on but that discussions were continuing. The company, which operates thermal coal mines in South Africa, said its financial position had been affected by the production impact of the previously announced availability of the continuous miners at its new Penumbra operation. Continental Coal said that had resulted in lower than expected production in recent months. "While the production will be augmented by the implementation of an additional conventional drill and blast production section, the ramp up of production from this is expected to take several months placing additional pressure on the company's working capital requirement," the company said in its announcement