Going below 2c within a week

Just my opinion, based on some facts folks -

The latest announcement, whilst some great power point slides actually tells you nothing and if you think these guys are bigger than Santos or QGC wow, then that speaks for itself. I will tell you the problems with the announcement and then tell you why they might have put it out -

Awaiting Government Approvals - Yes true, they have been waiting for over 2 years since applying for their MDL to be renewed, why is it taking so long, the answer is because the QLD government has not yet formed a policy position or view on the future of UCG, EG Highly speculative and no indication as to if the Gov supports or not, this I note was absent from the Announcement

Second Awaiting Approvals - You might read that announcement as I suspect most people have as awaiting for their UCG approvals but I suspect wrong again, in fact there is no approval submitted for commercial UCG production or Key Hole Technology's, as QLD has no legislative frame work or position, even if the Gov does agree to allow this technology, the scientific panel needs to put in a finding in favor (As per the policy position in 2009 in which this trial was allowed to run) to which the Gov will then consider. Then they will need to put legislative frame work in place, pass through parlement and then put in an applications and approvals process. Just my view but optimistically I am saying a year on each process so at least 3 years, and then Carbon can legitimately be awaiting approvals for this tecnollogy, at the moment there can not be any such application as it does not exist.

I could go on about Capital Cost, Operating Cost, EIS etc, etc however the entire Power Point ignored all that, so in essence there was nothing new announced and they are no closer than they were before...... So why the announcement and why did it miss all the factual and key points that any savey investor should consider when making a decision -

The answer is before your eyes, they have at end of year, less than $2.1 million in the bank, they have $3.7 mill coming in, so almost 6 million, however I am willing to bet by the end of this quarter and my proof will be in the quarterly in the next four weeks, they will have less than 3 million left in the bank with a quarterly spend of approx 3 mill, so do that maths, not such a nice Christmas for Carbon, if they make it that far.

You notice how quick they released the options form after the pump, I just hope no one is crazy enough to buy options at 0.06c then market is crashing around them, although it would help pay wages into the new year. The only hope is dilution, dilution etc..... and my guess if they dont pull the trigger on that in the next week will be at 0.016c and that will be pushing it............

No so much speculation, probably more facts than speculation if you check the accounts and the approvals processes, but up to you.....