cnx to wait til june now..., page-15

From what I got at high level from Pacific Road is that they intend to finish the strategic review by end of this month which means they are also waiting for election results to decide if they should stay in QLD or not. Their initially strategy has been focussed more on QLD before rather than Chile and now they intend to expand offshore as well together with QLD (Option 1: if Newman becomes QLD premier) or move the business completely offshore (option 2: If Newman looses) and focus on offshore operations only including Chile.

The email response from Pacroad gave me a hint that CNX was relying heavily on QLD and Chile was not given high priority which they are looking to focus on in the new strategy.

The strategy won’t be released till easter and depends hugely on QLD elections now which is really frustrating that CNX did not do a proper risk assessment before on political environment

I do not expect to hear from CNX till Easter. Seriously, CNX management is lacking the core management skills to run a company. I am hoping PacRoad will provide them a strategic direction.

Cheers.