From a factual standpoint, 0.004 sales have actually been extremely small and quite often cross trades.
If there is anymore volume awaiting entry at 0.005 (sell), no one really can tell, however, as stated, volumes over the last week have been declining in that SP.
On the other hand, IMO I can't see much of anything occurring until May. On the 2nd of we should have further clarification on the Court Case and possible compensation. But I am not holding my breath for a resolution by then, I expect this to go to hearing, whether it be for a monetary compensation decision or a full hearing. Depends where the Company lawyers are at with that and that's anyone's guess at the moment. We should know more then (hopefully).
The other is the JORC report in either May or June.
Of course other factors could surprise, with an early agreement settled, UCG Policy announcement by QLD Gov or an earlier than expect JORC completion and report.
The good news is that we know the coal assets are Thermal and PCI so there is some reasonable end value in place in comparison to current SP.
Optimistically CXY is still breathing, albeit with a snorkel, some good news may just put some floaties on and allow it to start swimming again.
CXY Price at posting:
0.4¢ Sentiment: LT Buy Disclosure: Held
