The discussions with Zhengmei Group are the most active atm. CNX are sending people over again next week to continue things. The Zhengmei Group deal [because they already have the Govt approvals in hand] is likely to resolve before the Shanxi deal. But as to when is unclear. Even if it finalized immediately, revenue would still take a while. [but the SP would strengthen IMO]
The Co is in active discussions about its coal assets.
My main concern, which I raised, is the effect Pacific Road has on the SP. I am waiting on an email to clarify my question. My concern is, it is they who have recently sold into the market after receiving 4 mill shares as an interest payment from the Co.
The SP is descending to the absurd levels. To some extent I see it as a rerun of what I saw LNC do. However, in CNX's case I, personally, do not see any big buyer stepping up, in the way it happened for LNC. So, I am saving my pennies waiting for the bottom to show itself.
Talk of a CR at this point I think is premature, since my reading of accounts tells me the cash burn is sustainable for a while yet. But money is going to become an issue sooner or later IMO. Just have to see what happens.
I did ask about the CEO position. Morné Engelbrecht who is acting CEO seems to be enjoying some high regard in the Co. I for one would be happy with him assuming the role permanently. But I could not get guidance on anything further about it.
CNX Price at posting:
2.1¢ Sentiment: LT Buy Disclosure: Held
