Yes Col, I also am a believer and will roll with the punches. I think that those heading for the exit are being spooked by the down turn in energy shares. There is no reason fluctuations in oil price should affect Linc. I have just dug out the !2 June BBY Analysis of Linc. At that time their valuation of the share price was 5.50 based on the long term price of oil at US$65 a barrel.
The only thing I really want to buy is more of these, but PB just keeps bringing out the good announcements........I guess one shouldn't complain. Was hoping for some weakness for a top up......we'll see how the Banks travel this week for some more weakness in the overall market.
Go Nuke, I saw that item in the C-M on Saturday. The writer thought the news was responsible for the big drop in LNC last Friday. There is a similar article in the Australian today. P.B. said that the stoush would not slow down the company's billion dollar project aims and that the injunction was not released to the exchange because it was not seen as material. If you want to read the article go to The Australian on Google, go to Business, Mining and Energy and "Search For" Linc
GTL Plant Progresses to the Next Stage
Linc Energy has also progressed on the completion of the GTL demonstration facility with all relevant piping now complete, the last of the testing being completed over the next few days before final commissioning is commenced on liquids production late this week.
Mr Bond said “you will not see liquids straight away as there are a number of basic steps which need ramping up, including activation of the Fischer Tropsch (GTL reactor catalyst) before liquids can be manufactured. We are definitely on the final stretch now for liquids production and that is incredibly exciting for all the team at Linc Energy and its shareholders”.
Linc Energy Ltd announced today that late last week the Company had ignited its No. 3 Underground Coal Gasifier Field (known as No. 3 Generator).
The new UCG field is already producing very good quality gas, which is being fed to the “flare” on the Chinchilla site.
The Linc Energy team expect that this synthetic gas (syngas) from the new UCG field will be the perfect feed gas for Linc Energy’s GTL demonstration facility.
Mr Peter Bond, Linc Energy’s CEO said “the commencement of flaring UCG gas from the No. 3 Generator is a significant milestone. Simply put, our first two (2) UCG generators were being driven predominantly from the Russian UCG experience and their processes. This new field is definitely a Linc Energy based process and a significant step forward from the old process”.
]“As any of our sophisticated investors know, the ability of Linc Energy to produce abundant amounts of low cost gas from its vast reserves of coal at various locations around Australia and indeed the world, is the secret source to Linc Energy’s success.
UCG combined with GTL means Linc Energy can produce high quality diesel fuel from low cost UCG gas and Linc Energy becomes the only company in the world capable of taking a $1 Tonne of coal in-situ and turning that coal into $140 barrel of diesel (via UCG to GTL). Let’s face it, this is the sort of business model most sophisticated investors like very much indeed;”
The new UCG field (UCG Generator 3) will be capable of producing in excess of 250,000 cubic metres of syngas per day from its initial operations. With the construction of the commercial size UCG field after final approvals have been obtained, Linc Energy’s UCG operations will be capable of producing approximately one million (1,000,000) cubic metres of syngas per hour.
The ballpark period for anticipated liquid is likely to be weeks not
days..... Whilst it is difficult to get a true sense of the size and
complexity of this plant from the images we have shown, there are many
facets to this plant and as gas enters the plant, each module is being
commissioned individually.
We will be holding a shareholder day at site as we did last November however that date is yet to be confirmed.
I do understand your concern however I am also confident that when you
witness the finished product in person, you will truly appreciate how
complex this world-first operation is. [Regards Janelle van de Velde]
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