realistically

A few thoughts for your musings:-

Kingaroy

QLD Gov has no money. QLD Gov has no particular incentive to settle but the court process will ensure each side is kept honest. CXY doesn't wish to spend any more money on legal costs than it has to.

Imo any cash settlement will be in the single figure millions. i.e. merely accepting only some of the total losses.

Imo there is absolutely no chance of Kingaroy starting up again. Zip.

UCG versus Coal (or UCG and Coal)

Timing is crucial here, together with a view on the likely global success of UCG. CXY could be sure it has lost access to Exergy (Blinderman) but that is far from losing access to UCG technology if required.

The International/Asian UCG projects have taken way too long to develop. Thats probably been a key reason for where CXY found itself a week ago.

Conventional Coal (referred to as coal hereafter) offers a short term advantage which will no doubt see a welcome significant increase in market capitalisation (and SP).

Future Strategy

Seems to me that there are now two options.

Firstly, merely become a coal company, seeking new leases etc., and developing up mineable resources.

Secondly, use the initial coal project to continue with further coal leases but after a period of reflection seek a UCG partner to progress certain UCG projects only where the project can have a clear, concise way forward without delays.

The advantages and disadvantages are fairly obvious. Yet to be fair, I doubt if it were me running the company, whether I would allow what cash CXY currently has to be diluted into speculative UCG.

Summary

The future for CXY is dependant on the two new directors making sure there is a growth story created.
UCG offered discrete projects, and a clear modular growth story. each project probably offered around $100 million plus in market capitalisation.
Coal at Macenzie has been suggested to be worth up to $50 million, but is a one off project.

Me thinks the new Board needs to outline where the growth comes from.