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I agree dazed that CNX is intrinsically undervalued. Even if one was to disregard it's core business of UCG (ISCG) then on hard assets alone eg:- Surat Basin Coal. If one was to value 2Bt of high grade coal in ground at a fire sale of 0.01 per tonne then according to my math, that gives a hard asset value of coal as 0.023 per share. Ridiculous really, but cest la vie.

The Queensland Government bureaucracy is still performing to it's standard and the Surat Basin Rail (Infrastructure Development and Management) Bill (tabled 29 October 2012), Report No. 9 of State Development and Infrastructure Committee (with recommendation to pass) is still in process.

When built, the 214km rail extension will certainly increase the value there. Hopefully by the time we get UCG through the Qld Gov. then that should be underway.

However, until we either get a good offer for purchase or the global coal market picks up, I really give it no thought at all in my expectations for CNX.

Personally I at present my two main focus points are 1. Progressing to finalization of cavity decommissioning report (Independently verified) to satisfy Qld Gov. ISP, or more importantly potential UCG customer's with the A-Z of UCG and environmental impacts of such.

2. As I have stated before, the Zhengzhou project proceeding to completion of the demonstration phase of the project and initiating the commercialization installation.

At which time it would not surprise me if the Shanxii project then overcomes the alleged political delays and proceeds (my speculative facetious side is showing again).

All during which of the 2nd focus point, monetary income should occur.

I agree and consider CNX is largely overlooked as it is perhaps generally thought of in the market as experimental
technology. Hence the sub-basement pricing. I do look forward to the longer term value here. Especially with CNX's business model for UCG, I do expect for myself, that once underway and proven, there may well be leaps and bound with such in rapid expansion of projects.

All in all I am happy to sit on CNX and accumulate from time to time to add to my long term portfolio.