It's hard to stay positive with the continued silence from CNX as to what is or is not happening. SP drop hasn't been through high volume though, just nibbling away, which adds to demoralization IMO.
I'll be keeping my CNXO's and may even grab a few more if the price is right. It has crossed my mind a few times to sell part of my CNX, at others it is tempting to buy more, but I knew this was a spec share when I bought into it. Overall I'm still prepared to wait to see where the ball lands as the potential here is a worthwhile gamble to me with a good multiple SP upside.
The reason being, they have done the work, have a good business plan, have a proven process and additionally been scrutinized through Gov and Independent Consultants right up the wazoo. CNX has still managed to come through with flying colours.
The other thing that keeps me in is that to the Coal Industry and Fertilizer Industry this process could also prove a particular boon.
Unfortunately we all know the above and can easily expand or expound on the benefits UCG can bring, but (and it's a big BUT) we can't do squat without approval being initiated. As I've said before, IMO we need a Commercial project to be up and running to prove its viability.
I'd personally prefer it if we were in South Australia as there seems to be an avenue of advancement there with the Government Policies in place. Unfortunately CNX's ground assets are in the Surat and it is only sensible that we proceed as we are at present.
There are no Q Parliament sitting dates in April (I won't comment on that) however there are two lots of sitting dates in May, being the 5,6,7 and 19,20,21. I'll probably give it until the end of May and evaluate from there.
https://www.parliament.qld.gov.au/sittingdates
If we don't hear any news over the next couple of weeks (which I'm not overly optimistic about given Easter break), I'm interested in the Quarterlies to see exactly where we are at financially.
