re: Ann: Wandoan Coal JORC Resource Exceeds E... wow.... can't...

re: Ann: Wandoan Coal JORC Resource Exceeds E... wow.... can't believe after the announcement this morning that hardly anyone has commented and the share price has hardly moved. The lack of comments... maybe everyone is waiting for poyndexter to make a comeback.

Anyway....

CXY now has over 400 million tonnes in JORC resources.

Doing back of paper calculations thats roughly enough to power over 2,000,000 homes for 30 years (using the 73mt to power 400k homes for 30 years at kingaroy as guide).

CNX has about 668 million tonne JORC resource at Bloodwood Creek.

CNX market cap is $350m or about 52c/tonne.

CXY market cap is $68m or about 17c/tonne.

I can understand maybe some difference.... but I think CXY should be at least worth half of what CNX is... which would give a share price of around 27c a share.

I guess it is due to the fact that most people don't understand the significance of how much energy UCG can produce from that resource.

The Wandoan resource from the announcement has an in-situ resource of 6800PJ. Now I am not sure how much is recoverable of that... even if it was only 50% that is still 3400 PJ! As a way of comparison... AOE has net 3P reserves of 5412PJ... and its market cap is currently $3.2 Billion!!!!

Just for giggles if CXY had a market cap of $3.2 Billion, the share price would be $4.92 (before effects of dilution from options).

But it isn't really a laughing matter. I think in the next couple years UCG is really going to come to the forefront as a solution to the energy needs of the future. In 10 years I really wouldn't be surprised at all if LNG plants are being fed by syngas from UCG as well as CSG.

CXY is definately worth a lot more than the current share price reflects. Shame that there seems to be a capper today that was determined to keep the share price down. Every buy that broke 10.5c was met with a strong sell, and that kept all the sheep timid and not willing to jump in. Now the sell side to 12.5c is very very strongly stacked indeed, and the sheep have gone back to grazing in other pastures. Nevertheless though... there is some tremendous value to be had here and one day soon something is going to give and the share price will bust north again.

Good luck to all holders.