I hear you mate ....A few weeks ago I came to the conclusion...

I hear you mate ....

A few weeks ago I came to the conclusion that the price will drift down until it reaches 5 cents or worse.
We will be taken out by the lenders or diluted down to zero.

Management obviously banked on CPL being taken over which shows by the appointment of mates being given key positions and put onto the board. None of the management have the expertise or experience to pull off a project of this scope ...

Like you I will go down with the ship ... I pray for an offtake agreement, but realistically who is going to sign an agreement with production so far out.
As we have seen anything can happen in that timeframe.
Japan has always been our best bet because they don't have the coal and have to import it. China and India don't have enough coal at this point in time but both countries are rationalizing their coal industry and coupled with that if they came across a deposit similar in size to Coalspurs they would have it up and producing within 18 months.

Management stuffed up when Japan had the nuclear meltdown. CPL should have been in there selling Coalspur to the Japanese power companies but instead they sat back and did nothing. That was the big opportunity to become a major player in the industry and I can't believe they missed it.
Management were too busy playing around signing agreements with the railway and port for coal that may never be placed on a train.

Their first priority should be to sell the damn coal ....................