Although the progress report leaves something to be desired, the positive side is.......1st trial shipment has gone, which means first income. Mile stone has now been hit and CES is now realising a future as a producer.
From this shipment will come an off take agreement to secure a ongoing future. Unfortunately they were not able to ship the 50000mt due to the unseasonal inclement weather, but I think CES has done extreamly well to get to this stage from initial IPO and having not diluted the register since.
So we sit here with only an 82 mil registry and are now producing and receiving income. That is a huge achievement from this minnow, and the SP should now reflect this.
Management are still green as setting any business up is not always straight forward and obstacles need to be overcome.
CES are now no longer prospectors, but PRODUCERS.
Investors need to pull their socks up now and realise this is a very cheap coal play. IMO this should now be trading between 15 - 20 cps, and of course this is just the start, as production gets ramped up so will the value.
The green light is now on.
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- 1st coal shipment gone = *** income ***
1st coal shipment gone = *** income ***
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