I don't usually post in stocks I no longer held. Although I am...

I don't usually post in stocks I no longer held. Although I am still watching how CXY performs. I was considering coming back in should it reach 0.001, but after after much internal deliberation, decided not to place an order at this time unless there is some positive news other than PCI coal.

I pretty much think that CXY is a cooked goose in it's present form. Unfortunately I really can't see how it can keep on paying 750K for the UCG license. The last CR virtually came to slightly above that amount. That cost 200m plus shares. Hopefully they can do some kind of deal to keep UCG potential on the books.

Taking a pessimistic view, then without the possibility of UCG then CXY becomes not much more than a potential small PCI coal miner in hard economic times. The viability of that though will depend on the result of a concept study for FOB value. Which for holders, hopefully it's location to nearby in-place infrastructure may assist in a gap profitable enough to be attractive to a JV or significant CR.

Sadly, on present announced information, my hypothesis for myself for CXY continuing to survive is really to start again should phase 2 prove positive. By that I mean a massive share consolidation eg: 100/1 which may result in a 10c share price. Then do a CR on that.

Of course that's my speculation and for the sake of long term holders I hope I'm wrong.

Best of luck.