Chief Cougar Len Walker says he'll keep his powder dry, but the concerns relate to inadequacies in the extent and methods of testing. "The fact is I don't think anyone would accept we have created environmental damage through our activities," he says.
Walker says Cougar hasn't wasted all of the $20 million sunk into the project over the past four years, given what it learned from the discontinued pilot burn (the idea was to burn coal to produce gas, to fire a 200MW facility).
"While we may not be . . . overly optimistic about Kingaroy we have done an enormous amount of work which should be useful to other projects."
Cougar has an interest in other UCG ventures, most notably an inner-Mongolian project backed by a Shanghai mob providently dubbed Limitless Holdings.
We rate Cougar as a speculative buy, if only because the stock is a much cheaper UCG entry than Queensland counterparts such as Linc Energy and Carbon Energy. All need broader state government approval, with a decision due next year.
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Personally I didnt come this far to lie down and die we all know its been shaved and hit the bottom and the only way out, if/when it is successful, is UP! if it goes out, cougar will go down fighting and remembered as the gladiator of "fighting spirit"
sure it seems impossible a slave could fight the Caesar "seems" is only the shadow they want you to fear and keep you in the box they put you in there
but remember this they are also mortals... and they have their fair share of fears probably greater than yours so they imagine what they too could lose it all in a flash
Furthermore there are always greater forces of good working in the background
anyway I learned all this from watching the movie :)
aren't we all here for some version of financial FREEDOM? Fight for your freedom. It ain't over till the fat lady sings.
fingers crossed and good luck to all
CXY Price at posting:
2.0¢ Sentiment: Hold Disclosure: Not Held
