reality bites again, and harder Yep, Suomalainen - I almost typed Sumoalien - Chris and Mokita are Indians too.
CEC news today is devastating, for those who only want to hear good news.
CEC has spent everything! All the CUM shares are gone. Ongoing basic expenses will eat up what remains of their cash in a few months. Nobody's going to underwrite a new share issue with the condition this company is in.
The EAO has just added at least a month or two, possibly a lot more than that, before the company can even resubmit an application - and that's before the 180 day environmental application can start.
It looks like the special resolution is just about ensuring the existing directors can exercise absolute control over who can be nominated as a director. That's surely the Emperor's New Clothes story, Compliance Energy style. Surround yourself with sycophants.
Oh, that's a big word. Sorry. Brown nosers, if you prefer.
There's no fix for the junky coal. But there are things they can do with the company itself: Consolidate it down to 10 or 20 million shares. Work a private deal for a substantial underwriting and equity position. Get a more exciting property to promote than the garbage they hold right now.