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I keep watching CNX ... but it is harder and harder to remain...

  1. 4,839 Posts.
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    I keep watching CNX ... but it is harder and harder to remain enthusiastic. Everything in that article I agree with and is the reason I remain interested.
    But 2 things have to resolved.
    *The Summa action has to be completely knocked on the head... that's close IMO but not finalized. At this point I think CNX should be counter suing for damages done by continuing a frivolous action... that might bring this to a swifter end.
    *The percentage of foreign ownership in CNX has risen as far as I personally feel comfortable with. Like it or not, Chinese ownership is problematical. The culture of kickbacks and 'greasing the wheels' in China is a poorly kept secret... greater Chinese ownership will likely result in winning contracts but increased opacity.
    Sooner or later the Qld government will allow the process but the damage is done. CNX is going to prosper elsewhere and China [and perhaps later India] is the best bet.
    I will stay on the sidelines until Summa is put away.
 
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