I bought MEE (CNX)at 22c and sold at 40c. A week later it was about 78c. Have followed the stk ever since. I have spoken with Ian Walker the CEO. Top class fellow.
The Oz reporter quotes a QLD govt official as saying: " A spokeswoman for Queensland Mines and Energy Minister Geoff Wilson said the Government "has no intention of granting production tenures for underground coal gasification for at least three years".
"Underground coal gasification is a new technology, untried in Australian conditions, and it poses some potential problems, especially with groundwater systems," she said.
"We will only do what is best for Queensland. In this case, we don't believe it's in the best interests of Queensland to grant production tenures for technology that is untried."
This statement combined with the fiasco re CSG claims/tenaments getting mixed in with UCG demonstrates what a shambles the QLD govt has made of this industry. SP down by over 30% I say.... get angry. Angry because beaurocratic high-handedness, arrogance, incompetence has produced a complete reversal from 'project of state significance' to being damaging to QLD!!!!!
Why should peoples capital be the victim of government incompetence??? Ring them. Ring the relevent departments and demand explanantions, answers, clarification. It is your right as a tax payer. I have rung MP's before, written to govt ministers and they have always taken the call or called back/replied in writing. Write to The Australian today/now. Letters to editor email: [email protected]
Don't roll over and watch your savings evaporate. The government is responsible/accountable to its citizens.
CNX Price at posting:
0.0¢ Sentiment: None Disclosure: Held
