Unrisked valuation, page-3

First off, you really shouldn't make decisions from this or any forum but seek financial advice from appropriate professionals.

Until CNX has a Commercial Operation up and running with a profitable income, it cannot be really classified or evaluated as unrisked. I am an amateur not a professional finance expert.

Don't get me wrong, I am quite bullish on CNX, but it is still classified IMO for my money as a Spec. stock. It wouldn't be at this price if it was anything else. Albeit it is one I consider to have extraordinary longer term potential if or when up and running. However one must try and be as objective as possible as hard as it is.

CNX has run through a gauntlet of hurdles to reach this point. It has 2B + tonnes of Coal in the Surat. If UCG (ISCG) get the go ahead it as the potential to be the 5th largest supplier of Gas in Qld.

As your probably aware we are awaiting the green light to proceed with a Commercial Application for the Blue Gum Project.

As various stages progress the more the stock will de-risk however the higher the SP should be to equate with that.

In short, I'm hoping I've pre-backed a horse at long odds that may eventually be an odds on favourite come start time.

As we progress I may add to my holdings at shorter odds, but at present I don't think one can say there is much of anything for CNX as unrisked other than the Surat Coal they own and thats only as good a value to the value of whatever they could sell it for if they needed to travel that route. Coal is not in high value demand at the moment as we know.

This is my favourite and IMO most potentially profitable spec stock, but for all that, it is still a Spec stock at the moment. The sensible thing with any punt is only to place what you can afford to lose, the trouble is we are not always sensible. Objectivity here can get sidetracked with all the work, money, time and effort CNX has put into the UCG adventure and the potential that lays there.

Best of luck with your decision. I am hoping the Chairman's address is correct with the word 'Imminent' and we all have an extraordinary XMAS bonus, but it also may be that a decision is not forthcoming until Q1 2015, which will be frustrating. Personally I never count on Bureaucracy to be timely.