off the nadir ... and on the radar?

I recall Cougar announcing at the time of relisting they needed to raise something like $1.3 mill to add to funds at hand to get them through to an expected November decision by DERM on continuing the trial burn at Kingaroy.

Looks through using part of the Yorkville equity facility they have raised $741k for 20 mill shares (3.7c/share avg) and a further $289k for probably a significant portion of another 10 mill shares.

The above funds have been earmarked for working capital to get approval to restart the Kingaroy burn and for advancing the WA Eneaba project.

Now they have raised another $1 mill at 3.5c due at the end of the month and in all likelihood have another $1 mill at 3.5c due at the end of Jan and sometime soon after there is likelihood of another $3 mill of seed capital (at no further share issue) to fund a probable 50/50 JV for China projects.

So, immediate funding risk is off the table and there are numerous directions in which the company appears to seek to continue to advance UCG opportunities. A sterling outcome really given the political and media stoning they had to suffer during this past three months.

The pendulum is now ever so slightly off its nadir imo and perhaps CXY even have the moral high ground, having never openly bagged the Qld Govt for their mishandling.

I have the view there would be serious PR mileage in seeking just to continue the trial burn for say 3 months, report the expected UCG syngas success with no contamination, put Kingaroy and Wandoan on hold and make it clear to the Qld Govt they will only return to Qld on invitation.

Then they leg it to WA and/or China to commercialise and wait for the inevitable olive branch and incentives from a reticent Qld Govt as UCG achieves commercial success elsewhere and CSG environmental issues start emerging.

Dex