Its seems some people are just focusing on the share price and recommending a sell if it drops!! Personal opinions and head and shoulder formations I guess! Personally, I dont recommend a buy or sell. Its up to the individual!
Also I like differing opinions, especially when it comes from a HOLDER/INVESTOR. But when it constantly comes from a non holder who is constantly negative and recommending sells, then one eventually wonders if there is some sinister motive.
Anyway, for the Holders interested in the direction and current company happenings, here a few answers from the company.
Littlemak....Yes, We had a number of very interested investors and brokers on site yesterday.
LM: Regarding the blockage and reconfiguration.
A: The work around is simple and straight forward and requires some reconfiguration of pipework predominantly. Cost is within the project contingency and expected to be complete within 2 weeks.
LM: Current budget and cashflow.
A: Budget and cashflow is in line with our expectations. As a normal part of business we regularly review our cash position and ongoing commitments. We have strategies to deal with the funding of major projects which will be worked through with our commercial partners at the appropriate time.
LM: Do the Engineers know what caused the blockage?
A: The cause of the blockage is understood and can be engineered out of future piping systems.
LM: With regards to the latest announcement, how much energy is produced from 70t per/day of coal burning and has there been any commercial quantities of syngas produced from the air alone?
A: 70 tonnes per day is approximately 1,400 GJ per day, which can produce around 6 MW of electricity (we can produce twice that on oxygen). Air would be our preferred basis for power generation and we would simply add additional panels to produce more power. Consequently, we have produced commercial quality syngas on air using our commercial panel design. Oxygen injection will set us apart from other UCG companies who only use air. In addition, we have a unique “panel” design for our gasification process which allows us to produce a very high quality and consistent syngas over time. Oxygen is the preferred method for producing syngas for chemical manufacture, such as ammonia (for fertilizers and industrial explosives) and for methanol
Take it as you will readers, some will see it as negative and full of shyte and others positive and encouraging.
LM
CNX Price at posting:
24.0¢ Sentiment: None Disclosure: Held
