CGV are a UCG & GTL company i have not come across before, they have interests in Victoria, Queensland, China and have recently been invited to collaborate with Nagarjuna Fertilisers and Chemicals Ltd to pursue development of UCG projects in India.
They claim to have one important advantage over other UCG competitors in the marketplace. Usual UCG methods rely on the permeability of the coal to link the injection and production wells, which as reported by CGV have to be around 50m apart for the process to work. CGV add a horizontal CRIP (Controlled Retractable Injection Point), linking the injection and production wells, allowing them to be spaced up to 600m apart, significantly reducing the costs of the multiples more drilling holes needed in more conventional methods.
CGV board members have experience in the UCG sector, including John Harkins (former director of Linc) and Dr. Michael Green, reported as one of the world's leading UGC specialists.
Current SP 6.7c
Shares on Issue 140m
12 mth High/Low 25c/5c
Cash at hand $3m
Expenses this quarter $1.1m
Company presentation here,