short term upside, page-39

The company has made it clear it expects commissioning of the power plant to occur in December.

Given it's now not case of 'whether' but 'when' it starts producing power, I certainly don't think the recent downward pressure on the SP is rational market behaviour.

The fact is that CNX is in a much better position that it has been at any point in the past 6-8 months, during which it has been traded at higher prices.

The market had huge expectations for CNX this year. Following prolonged delays to the Bloodwood Creek project (largely due to reasons beyond the company's control), some holders have evidently lost patience. It appears the market is only prepared to pay on RESULTS.

For those patient enough to wait for the final hurdle to be leaped, the rewards will come.

Whatever the specific SP movements from here, current prices are criminally cheap for a company at this stage of development, with so much immediate activity in the pipeline for 2011.

I, for one, look forward to a prosperous start to 2011. Good luck holders.