Why would CXY have a market cap of over $400 million in 12 months ($700 million fully diluted) when they barely enough cash to fund the drilling, let alone the 20 odd million to establish a UCG field. They have yet to confirm if the hydrogeolgical conditions of Kingaroy will support a UCG burn without contaminating the groundwater. The trial burn to confirm this will take months, if not years. The last trial burn that Dr Walker conducted took 3 years. The Kingaroy trial burn is not due to commence until Apr 08 and Pakistan is on the verge of imploding.
“news around the trap”
What is your news?
CXY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
