Thanks for the response. It is good to see some constructive commentary on these boards.
I dont have an issue with the potential for change in attitude of the CSG and mining lobbies (lesser on the latter) but at this stage, my contacts in Qld seem to indicate that it will be slow in moving.
The lack of domestic options for gas may force a change in view, but applying a domestic obligation now would surely harm the economics of the existing capital projects and would not be a positive step for our global investment in the future.
I also see the Qld election as a huge pivotal point in the UCG decision. I cannot see the government giving the green light short of the election, which I understand could be as late as June next year. Whilst I agree that CNX has ticked most if not all the boxes, the ultimate approval is still dependent on some guys who will face the electorate every 3-4 years and this decision, IMHO, is not expected short of the next election.
If I am wrong, I miss the opportunity, but if I am right, I can wait and get set in the next capital raising. The recent failure of the Placement will mean that there is more capital required earlier.
Happy to discuss further.
Cheers, Al
CNX Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held
