CNX - Carbon Energy

[ColB]

Originally posted by Springhill

Carbon looks to be making another (failed?) assault on 53.5, a noted sticking point in the past. Good volume in the last half hour has it gaining momentum

Thoughts on a possible breakout or breakdown even?

It will probably break through your 53.5c but will need a very big push to get through the 600,000 odd shares in the queue at 55c. Ran pretty hard today (Up 14%) and I would think that without some good news it won't be sustained.

Hope I'm wrong

I hold

 

[springhill]

It will probably break through your 53.5c but will need a very big push to get through the 600,000 odd shares in the queue at 55c. Ran pretty hard today (Up 14%) and I would think that without some good news it won't be sustained.

Hope I'm wrong

I hold

Success mate! Was looking very dodgy all through the day, but broke through at the death knock, witn no news apparent. Given the volume of trading in recent times (3-5 million) not sure 55 will such a big obstacle
A good day monday should see a POTENTIAL breakout here

 

[Mickel]

Success mate! Was looking very dodgy all through the day, but broke through at the death knock, witn no news apparent. Given the volume of trading in recent times (3-5 million) not sure 55 will such a big obstacle
A good day monday should see a POTENTIAL breakout here

Springhill, perhaps the late rally was assisted by this story in Brisbane Times (Fairfax) which was posted online at 3.08pm today-

http://www.brisbanetimes.com.au/qld...eensland-gas-looks-greener-20090508-ax8t.html

In my view the reporter didn't describe Carbon Energy's processes that well, but it still could have had a positive effect on the S/P.

I hold CNX.

 

[johannlo]

Whats with the sudden reversal of fortune? Market depth is looking shocking. Is it entirely due to the Magma holdings share dilution?>

 

[springhill]

CNX have released the details of their presentation to be showcased at an Extraordinary General Meeting of Shareholders to be held this morning

http://www.asx.com.au/asxpdf/20090720/pdf/31jmjvpq5gwsdr.pdf

 

[springhill]

CNX has had a stellar gain of around 40% in the last 2 days on the back of consecutive announcements with yesterdays being of the most interest, just curious as to peoples' thoughts on the strength of the breakout?

No one has posted the second announcement in regards to the agreement with ZeroGen so here it is....
http://www.asx.com.au/asxpdf/20090722/pdf/31jnxf59vf35c0.pdf

The obvious keys to me from the info provided lately are the existing gas & transmission infrastructure running through the tenament & the use of carbon capture technology is going to be a major plus

 

[Mickel]

CNX has had a stellar gain of around 40% in the last 2 days on the back of consecutive announcements with yesterdays being of the most interest, just curious as to peoples' thoughts on the strength of the breakout?

No one has posted the second announcement in regards to the agreement with ZeroGen so here it is....
http://www.asx.com.au/asxpdf/20090722/pdf/31jnxf59vf35c0.pdf

The obvious keys to me from the info provided lately are the existing gas & transmission infrastructure running through the tenament & the use of carbon capture technology is going to be a major plus

In my view, the strength of the buying (many trades over 100,000) is because of the Carbon Capture trial which seems to be the 1st practical application and it appears Fund Managers are getting on board.Therefore I think it will continue in the short term. If more positive news about the trial emerges then the S/P should continue its upward trend.

I'm a long term holder.

 

[berbouy]

good news today for the cnx faithful- the following was on proactive investor, and looks to be another milestone for this go ahead company;have decided to hold a few on the strength of the last few news releases



Carbon Energy (CNX) has executed a deal to joint venture a 338 million tonne inferred thermal Coal Resource in Queensland’s Galilee Basin.

It will hold 80% of the Joint Venture and will be the operator, Libery Resources (ASX: LBY) will contribute the tenements holding the coal resource into the JV.

Using Underground Coal Gasification (UCG), a number of coal resources in the Galilee Basin have potential to be monetised. Already, Carbon Energy has Queensland Government policy approval for a UCG plant at one of its tenements in the Surat Basin.

Carbon Energy has signed a Heads of Agreement (HoA) with Liberty Resources (ASX: LBY) to establish a joint venture to develop Liberty’s 338 million tonne thermal coal inferred resource in the Galilee Basin.

The optimal development of the resource will be evaluated by Carbon, using its expertise in Underground Coal Gasification.

 

[springhill]

http://www.asx.com.au/asxpdf/20090807/pdf/31jzgp72qw113k.pdf

Managing Directors newsletter has been released to the market this morning, nothing new really, but all recent announcements are available from this one source in PDF links on the page.
Good to see they are keeping a constant flow of info to the market.

 

[davidsbodin]

Southern Cross / Potters have a min target of 90 cents to 139 based on values of other similar stocks CXY.

10.00 + based on the energy

im Long

 

[springhill]

Southern Cross / Potters have a min target of 90 cents to 139 based on values of other similar stocks CXY.

10.00 + based on the energy

im Long

Im LOOOOONG also, but remember Southern Cross have an interest in CNX

This from the half year financial report from Dec 08
NOTE 2 – SHARE-BASED PAYMENTS
The following share based payments arrangements existed at 31 December 2008.
On 3 July 2008, 2,000,000 Share Options were granted to Southern Cross Equities for services in
relation to capital raisings. These Options have an exercise price of $0.60 and expire on 30 June 2011

 

[orr]

In the Directors Buying notices todays Herald CNX gets it's hat in the ring, for any body not watching their announcments.

 

[berbouy]

cnx on a tear this morning,and comfortably went through the 65 cents -before a trading halt pending an announcement by the company-anybody have any news?

 

[springhill]

cnx on a tear this morning,and comfortably went through the 65 cents -before a trading halt pending an announcement by the company-anybody have any news?

Trading halt has to do with the sale of their gold assets. No great loss there, grades weren't great anyway.

 

[SUNYA2006]

I think it ia a good news because more received cash will make major area more stronger. How will CNX reach next Monday depends on how much the gold asset can sell.

 

[springhill]

I think it ia a good news because more received cash will make major area more stronger. How will CNX reach next Monday depends on how much the gold asset can sell.

Absolutely it is, cash in the bank is king! There was talk at one stage of spinning off their gold and uranium assets, but that would've been a folly IMO. Stick to what you're good at and is taking you in the right direction. Still have U assets in their pockets aswell.

 

[springhill]

http://www.asx.com.au/asxpdf/20090814/pdf/31k2z3hgj2xywv.pdf

CNX released sale of gold assets announcement, as expected, fair value for them IMO i thought $2m might be around the mark
Spin off of their U assets aswell, dont know what to think of this just yet. Very early days of exploration & im sceptical the Northern Italian mine will get off the ground. Alot of strong greenie sentiment against it.

 

[SUNYA2006]

http://www.asx.com.au/asxpdf/20090814/pdf/31k2z3hgj2xywv.pdf

CNX released sale of gold assets announcement, as expected, fair value for them IMO i thought $2m might be around the mark
Spin off of their U assets aswell, dont know what to think of this just yet. Very early days of exploration & im sceptical the Northern Italian mine will get off the ground. Alot of strong greenie sentiment against it.

But market is obviously disappointed by this lower price. 80,0000 ounces gold resource only value this little sum of money?

 

[springhill]

But market is obviously disappointed by this lower price. 80,0000 ounces gold resource only value this little sum of money?

Not sure that the gold is the issue, market is probably factoring the loss of the value of the U assets from the company

 

[springhill]

54 - 57 10:36:49 am 64 38,794 0.5 $24,828 4
45 - 53 10:31:54 am 63.5 74,775 0.5 $47,482 9
31 - 44 10:27:54 am 63 88,729 0.5 $55,899 14
23 - 30 10:16:08 am 62.5 40,530 0.5 $25,331 8
17 - 22 10:07:01 am 62 81,036 0.5 $50,242 6
15 - 16 10:03:51 am 61.5 24,734 0.5 $15,211 2
2 - 14 10:03:17 am 61 93,214 1 $56,861 13
1 10:01:14 am 60 3,011,063 $1,806,638 1

Unusual rather large trade on the open for CNX this morn, any opinions on this? Also happened with WSA, 1,000,000 in 1 trade at the open aswell