Continental Coal has appointed Deloitte, Perth as independent financial advisor to conduct a solvency review on the company as part of the ongoing recapitalization efforts following lower output than expected as Penumbra in Mpumalanga.

“This assignment will include a review of the overall funding and restructuring strategy as well as a balance sheet and working capital review,” Continental Coal said in a statement. “Deloitte will be presenting their findings to the board of directors early next week and advise the board on appropriate steps to be taken given their assessment of the financial position of the company.”

The company’s shares are currently suspended.