Simply the gamble is whether or not we get approval to proceed with Application either 'before' or 'after' summer break. I didn't think we would hit 0.045 prior to end of this month as a lot of volume was not on offer. It appears a few have bet against the announcement being 'after', which is fair enough, each to their own strategy and punt.
I do know one thing, if I do the same, then sure as eggs there will be announcement 'before'.
I partially agree with lou222 in that if we don't get approval between now and end of FYQ3 any CR may have problems.
In all probability the longer we are delayed the SP will continue to be nibbled at. Only the go ahead for Blue Gum or Zengzhou resumption may alter that for the time being.
Personally I've tucked mine in the bottom draw and taking the wife on a 1.5 week holiday.
If we don't hear anything by the end of the month, I hope CNX give investors some sort of progress update in early December. Sentiment wise, from past market experience, fear of the unknown is a lot more damaging than news of delay IMO.
CNX Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held