Just looked in again ... it really doesn't matter who's got the biggest contact. It still seems the shareholders of this company do not know what the deal is for the money from Pac Rd that is going to keep the company alive, and what the deal is with the Chile game.
I suspect it's like this:
Chile - you get nothing unless the technology is proven commercially, and then you get to spend more money. Pac Rd deal - "spend as little of our money as possible and give us all your IP and assets" Selling the assets - the coal is 200m below ground and fractured, thus only usable by UCG. But the UCG is not working (Ergon aren't buying anything from them.) That means a UCG company is selling a speciality asset to another UCG company. Not Cougar (who are broke) or Linc (who don't need to buy a technology that doesn't work). So, it would have to be a foreign investor, so the FIRB would take 6 months.
The money is due to run out end June on current basis, sometime a little later if operational staff are fired. (Redundancies are expensive.)
Next option: share raising at 5 cents???
Difficult to see how all of it can be a R&D refund when all the ASX posts said they were in commercial production.
"Oh what a tangled web we weave ..."
CNX Price at posting:
7.8¢ Sentiment: None Disclosure: Not Held
