If the project is given the green light to proceed cash will be available via capital raise at a much higher price. Like what we witnessed with the run to 10c. Expect it to run a lot higher than 10c on approvals with the current gas reserve in place.
Any finance required will be based on the feasibility study numbers. Also CNX is not looking to fund this project, just bring in a large player to develop it.
The EPA has already issue a statement on the Linc site stating they have investigated allegations and there is no link between the gas site and any problems in the area. A lefty propaganda piece backed by no facts is hardly a reason to knock back the CNX billion dollar project.
If Linc have botched stopping the ignition, there is a draw point keeping ignition going or they have botched the geology assessments I expect linc will be dealt with very harshly, and for good reason.
The CNX approvals will be more to do with CNX proving that they can manage and rehab their site and have actually met the requirements stipulated by the independent scientific report. This is were I would be looking for any hold up in the project.
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CNX Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held