what's happening cgv?, page-5

The damage was done when they decided to change tact...IMO the US project was a good project supported by the 3rd largest US power generator.

The public data I got from the Oklahoma Coal Board doesn't support the claims made by Coutts that the US project wasn't technically or commercially feasible.

Also, mining coal at 450m is not a big issue, its been done around Wollongong NSW for years. Yes, understand the CSG issues in QLD too. They also have the leases in the Bowen basin, which whilst appear deep the company categorises as high risk/high reward. It's typical of coal exploration.

My understanding of the agreement with Essar was that it was for wider projects as well.

Obviously for companies like Essar and AES don't do deals with companies like CGV unless companies like CGV can really offer something.

That being said, CGV have had over 12 months to drill on any of their remaining tenements and/or to find another key project and deliver back some value...so far nothing has happened apart from many board changes, declining cash and declining share price.

They need to get off their backsides and do something with the assets they have or find another lead project. There is no surrounding CSG issues with their Bowen Basin tenements...why could;t have they spent some money on at least one or two test holes there? Who knows...they might strike some PCI/Semi-soft coking coal.

Its not as if they have no money and no assets.....its bloody pathetic IMO.