Sounds like where on a very similar strategy; a 4 bagger from here will see me with a small profit and a delayed feeling of satisfaction. I've been averaging down for the last few years and have that many cuts on my hands I've needed several blood transfusions just to stay conscious!! I've stayed in this one because I really believe this technology is far better than fracking and there is going to be a huge growing demand for gas. Wait till the USA starts closing coal fired power stations and their CSG wells start running out of gas weeks after they drill them. When they realise a panel of UCG can operate for 10 years of continuous production....
Unfortunately we're not just fighting the government departments we're up against a well entrenched and very powerful coal industry. If they conceded that coal has had it's time in the sun, threw some investment dollars into the UCG industry (still using coal) this thing would be in orbit in a few months. Yep, that ain't gonna happen.
CNX Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held