My story is similiar, highest price paid was 32c but have averaged down to 17c. Bought more at 6c on the recent ann which I don't think the market has really appreciated yet. Will buy more when the $7.5m is in the bank; then more if the QLD government release a policy favourable to UCG (should be in the next 2 months; then more when coal assets are monetiseed next year; then more when large scale commercial projects are under way in China.
The road ahead is paved with opportunity. Growth in gas demand is going to continue each year for the foreseeable future. Potential earnings for CNX are huge, and if the world ever works out that UCG is superior to CSG both in yield and environmental benefits, then long term holders will indeed be spruiking about the day they bought CNX shares for just a couple of cents!!
CNX Price at posting:
6.5¢ Sentiment: LT Buy Disclosure: Held
