You might be right but with a 0.25 spread I need 3 to make it worth it. My outlook - Farm out to INEOS to help fund the pilot plant after the environment impact study is published, that's at least 5 months away. I doubt we will see any takers for the North sea licences given the current market, worth having in the back pocket for now though.
I can't see much news coming in the near future (please tell me if I'm wrong?), I've set a buy at 3p as I think it will be tested until funding approved or farm IMO. Still have a lot of time for this lot - I hope they surprise me!
Snippet taken from Today,s ProactiveInvestors reColin Smith, analyst at Panmure Gordon, said today’s report and a preceding study of the Kincardine licence confirm the scale of potential held by CNR. He adds that a planning application for a pilot scale demonstration plant would signal progress towards commercialisation and would be a key value trigger. The analyst’s 13p price target is some 160% higher than the current price of 4.88p, and Smith reckons demonstration of a viable UCG operation will help close the gap. “We believe there is scope for substantial outperformance on any signs of real progress toward a demonstration project, which we believe would itself be taken as a potentially significant de-risking of this business opportunity,” Smith said in a note.port
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