G'day all,it has been a long time between posts for me but where...

G'day all,

it has been a long time between posts for me but where this thread is going has resonated with me. I too (once upon a time) mentioned often on this forum about the lack of communication from management, and just as many times, I spoke with members of the CXO board about this. On all occasions they acknowledged that they need to do better, but to this date, they have yet to do so. This use to get me irate about the lack of appreciation towards the needs of shareholders, but over time, I have started to look at what was happening with the company, and not what I thought should be happening. What has been happening in recent times is:
- rapid SP appreciation from the 5c range to mid 20's now
- conversion of the MOU with Darwin Port
- raised over 40m in cash to fund additional exploration (the largest total in the companies history)
- gold exploration is progressing
- purchased additional ground for lithium exploration
- an expanding focus on Europe for sales markets
- 5m NT jobs fund approved
- major federal project status achieved
- carbon efficiency established aimed at European investment

That is quite a list!

As long as I have been invested in CXO, there have been missed timeframes but objectively, the company has also been constantly progressing towards production. As SB said in one of his latest interviews..there is not a single Australian producer worth less than 1B and CXO is approximately 12 months away (the math is exciting on what that means for the current SP). In my mind, the 3rd quarter should be a massive one for the company. We should see the DFS, we should see new assays (from some new tenements and some old) from the largest drilling campaign in CXO's history, we should see more fidelity around our gold potential, and we could even see something from left field that 40m in the bank provides (perhaps we find something on virgin ground that we weren't expecting - that is the exciting part about exploration!). What we do know is that there aren't enough projects to supply global demand, so it is telling that we don't have any additional binding off takes yet - this is likely purely because CXO is waiting rather than being due to a lack of demand.

I can't see a TO anytime soon, and if there is one, it will be at quite a premium I think. We may or may not see binding off takes, I say may not because I have not noticed many companies signing up to off takes at the moment - no surprise there, it is completely prudent for all companies not to sign up to anything at the moment until we see where prices will go (and stabilise).

Whilst I sold some shares on the rise at the beginning of the year, I still hold a sizeable parcel of CXO as I believe in its long term potential (I always have). I would encourage everyone to relax and see what happens this quarter....CXO is in the box seat, and based on the SPs of those within the broader sector, we have gone back to being very very undervalued IMO. When this happened last time, we went up 5-7x to correct the imbalance but it did take a little longer than I thought it would have.

Just my thoughts. Good luck to all, remember, if the company's performance really bugs you, you can always sell.