Bonedoctor,Thank you for your post,Mitsubishi seeing potential...

Bonedoctor,

Thank you for your post,

Mitsubishi seeing potential in The Mt Carbine tungsten project and the commitment to inject $15.0 Mil with a suggestion of a J.V. is a big positive for CNQ. But currently the market seems to be avoiding small caps and risk.

As you would be aware Mitsubishi has been a key cornerstone investors and driver for many Australian companies and will drive CNQ success.
Mitsubishi would be fully aware of III/CNQ errors of Judgment in the past.

I think we need to see:-

• The SPP bedded down.
• How Mitsubishi will invest the $15.0 Mil. Via SPP Shortfall? Dilution. Fine Print?
• Will Mitsubishi get a seat on the Board?
• The new board & Accountants impact.
• Will the Mitsubishi injection trigger an AGM?
• Once Mitsubishi is bedded down we will have a clear path forward and Broker presentations with Mitsubishi reputation can start.
• Conformation that Qld Gov. approvals have been submitted. 3rd & 4th Qtr.
• Long lead-time plant ordered.

Investors and the marketplace will have confidence and the share price will start to move.

DYOR.

P.S. It seems the Tailing plant has been disappointing but I would assume CNQ have established and trained an experienced crew to run the pant for the sake of holding the experienced employees and subject to the overhead recovery mathematics it could be worth continuing to run the tailings pant.