With an ann. like this how can the SP head lower then the cap raising price????
CGV in $444m gasification joint venture in Mongolia
CRITERION: Tim Boreham From: The Australian November 02, 2009 12:24PM
WHEN a small-cap, clean-tech speccie play heralds a "major joint venture agreement" (all-caps in their announcement), we're honour-bound to take notice. After all, it's the semi-official day before the Melbourne Cup holiday, and the only other noteworthy event is midday's listing of an obscure department store.
In a spectacular example of leveraging up into the big league, Clean Global - market cap $18 million - has entered into a $US400 million ($444m) underground coal gasification (UCG) venture in inner Mongolia.
Clean Global takes a 35 per cent interest in the venture, partnering with the Beijing Yusenjiayu Environmental Protection Technology Co (YSJY), the Inner Mongolia Gu Xin Mining Co and British mob Goldbridge Clean Tech Energy.
The idea is to produce commercial gas (syngas), from Gu Xin's 1.8 billion tonnes in inner Mongolia, to be sold to a local company via a “documented offtake agreement”.
UCG involves converting the coal into gas at high pressure and temperatures, obviating the need to mine the dirty black stuff.
With an ann. like this how can the SP head lower then the cap...
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