Your views are you your views. But Pacific Road are backing this, they have already quite a bit at stake with previous amount invested into the company.
Now, if CNX's UCG technology was a failure the company would have no future, but as long as there is capital available (in the most recent raising via a convertable note/debt) the company will exist.
Bear in mind that it only takes one of the UCG to get off the ground, either in Chile or the US or Timbuktoo and it's a company maker with a significant amound of future revenue.
Food for thought.
CNX Price at posting:
9.7¢ Sentiment: Hold Disclosure: Held