Very interested to hear Hibba's thoughts on the current state of affairs.
Andrew Dash needs to be more forthcoming in informing shareholders of some (if not all) of the details in regards to the approval sought by DERM.
What is the information required to be collated by CNX for DERM?
Is it possible that CNX has overlooked the collection of critical data (eg water quality in surrounding aquifiers) and now must collect this data in the following 3 months to support their application? Did they conveniently exclude any unfavourable scientific data in relation to the project?
This type of detailed disclosure builds shareholder confidence in their CEO and aids in making informed investment decisions.
Further, Dash's opening statement:
"Carbon Energy Limited (ASX:CNX) (OTCQX:CNXAY) continues to make significant progress at its Underground Coal Gasification (UCG) project at Bloodwood Creek, where it is developing high-value, low emissions fuel technology for local and world markets."
Quite frankly, "significant progress" is not a truthful description of recent events at Bloodwood Creek. Dash is definitely not building any credibility with this type of statement.
If Dash has constructed CNX's development application with this type of clumsiness it is little wonder that DERM has requested further information.
RC1
CNX Price at posting:
10.6¢ Sentiment: LT Sell Disclosure: Not Held