["miksaw=A tad worrying though to see the amount of sellers drawn out by that sudden run up yesterday. Hopefully that won't happen every time the price tries to rise.]
The convertible loan CNX has is paid in shares based on the SP -> interest owed. I'm not saying they are the ones shorting CNX to gain more shares, or even the ones selling when the opportunity arises to regain their investment and/or make a profit. However the math would be there eg: Get paid at 0.017, sell at 0.19 upwards and there is an additionally profit. Hard to say without knowing who's selling. But in any case I will be happier when CNX can ditch this loan.
To look for the silver lining in that is of course for those that accumulate from time to time. As I said, nice to see that those that are put up are being soaked up, may it continue.
["71c4=If CNX can satisfy the Qld govt and the expert scientific panel that the contaminants are satisfactory this could be the catalyst for government approval for UCG."]
IMO not an IF, but a WHEN. If past history is any example, QLD Gov, have not moved expeditiously with this and I will be pleasantly surprised should that change in the future. I am hopeful that CNX will have Independent testing results and published Analysis of such. Rather than await the ISP examination and report. More for the sake of being able to wave it at present clients and future client inquiries.
The upside of QLD GOV. pedantic behaviour towards UCG (ISCG) as far as I am concerned is that the end result gives CNX a A-Z Safe Environmental Report which should satisfy any Government concerns in the World.
Not to say I'm not still pissed at the QLD Gov. It's a pity they didn't do the same to CSG when it was first starting. But it may appear they have backed that horse for quit a while. it would be so nice to see that bite them in the ....... big time.
Sorry I digress.
CNX Price at posting:
2.0¢ Sentiment: LT Buy Disclosure: Held
