Random thoughts on where I think the project currently stands...

Random thoughts on where I think the project currently stands and on what I expect is occurring.
Your thoughts and comments appreciated.

The share price has dropped more than expected and we may not be out of the woods yet but Coalspur has evolved into a very strong project with a proven huge and very valuable thermal coal resource which will be very easy to mine and transport. Every quarter the project has been further de-risked and the value improved significantly.

1) Market conditions must improve for asset monetization to occur. Until that happens we must wait, could be months, even years.

2) Management are looking to do a joint venture and not an outright sale of CPL, ie, maintain an interest in the project.

3)Following completion of the BFS, I believe management have been talking to a number of major coal companies to assess a partial sale or joint venture opportunities.

Coalspur is now recognized as a strong, viable project however the timing to obtain a large commitment is not ideal.
Market conditions will need to improve before a suitable joint venture can be finalized.
In the interim, from recent announcements management are obviously working to improve the project by de-risking it and moving it closer to production .... actions which should enhance the terms we can expect from a major partner.

When market conditions improve, joint venture discussions with major companies that have the technical and financial resources to build and operate the project should come to fruition.
The objectives in a joint venture must be,
1) To maintain a meaningful interest in the project.

2) Ensure that our partner only earns its interest if it commits to build the mine and in a timely manner.

3) Minimize CPLs capital contribution through disproportionate funding.

4) Push funding requirements out as far as possible.

I like the actions management is taking to enhance value, ie: taking measures to ensure a smooth permitting process for Vista, drilling for high-grade intercepts at Vista and obtaining more leases as an effort to transform the project economics, looking at a possible second mine at Vista South in order to make Coalspur a more compelling project opportunity and lastly obtaining rail and shipping agreements.

Bottom line for me is that these circumstances demand that we continue to be patient. The amount of reserves at Vista + South Vista will eventually attract a JV partner, if not an outright buyer.
Of course, the absence of an imminent catalyst means the stock price may not rebound quickly.

Patience is the key, not only for we investors in Coalspur but also management in particular, they MUST NOT give away too much of Vista for too little.

My sentiment has gone from hold back to a long term buy,
Problem is I ain't getting any younger,
Grandkids should end up very happy though lol.