Shut up bas. My nickers are getting wet...
400k buy?? I reckon someone just took a HUGE risk. Kind of like deal or no deal.
Do you take the 50k offer, or go for $100k briefcase, knowing you could end up with, say, 30k?
LNC - Linc Energy
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Shut up bas. My nickers are getting wet...
400k buy?? I reckon someone just took a HUGE risk. Kind of like deal or no deal.
Do you take the 50k offer, or go for $100k briefcase, knowing you could end up with, say, 30k?
Shut up bas. My nickers are getting wet...
400k buy?? I reckon someone just took a HUGE risk. Kind of like deal or no deal.
Do you take the 50k offer, or go for $100k briefcase, knowing you could end up with, say, 30k?
Yeah except its not like they came from zero to hero.
The only benefit of the person taking that risk (if the sale does not proceed or is delayed) is that they will get a nice capital loss.
Why should we be concerned about the QLD Election Select?
LNC's first projects are scheduled for South Australia, Vietnam and Wyoming
ColB,
Chinchilla isn't the first project because of the Qld ALP's decision to side with BG.
I'm sure you would understand the ALP's efforts in ensuring Chinchilla wouldn't be developed in the foreseeable future. Maybe the LNP would have had other ideas.
But the ALP have been re-elected so South Australia will be the first liquids project.
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An announcement has been released this morning.
"Linc Energy has received formal notification that all necessary non-Australian approvals for the purchase of its coal tenement assets have now been obtained.
Linc Energy expects to finalise negotiations and execute the sale contract for the coal tenements in the coming 3 to 4 weeks."
and this has already started to push price up
"Linc Energy has received formal notification that all necessary non-Australian approvals for the purchase of its coal tenement assets have now been obtained.
Linc Energy expects to finalise negotiations and execute the sale contract for the coal tenements in the coming 3 to 4 weeks."
and this has already started to push price up
Announcement this morning-
"23 March 2009
Coal Tenements Sale Update
•
Linc Energy has received formal notification that all necessary non-Australian approvals for the purchase of its coal tenement assets have now been obtained.
•
Linc Energy expects to finalise negotiations and execute the sale contract for the coal tenements in the coming 3 to 4 weeks.
Linc Energy Ltd (ASX:LNC) (OTCQX : LNCGY) is pleased to announce that its negotiating team was formally notified on Friday, 20th March 2009 that, other than Australian governmental approvals, all necessary approvals have now been obtained by the parties with whom negotiations have been continuing since late 2008 for the proposed purchase of the Emerald (Teresa) coal tenements.
Obtaining these important approvals allows the parties to proceed to finalise negotiations on the remaining transaction details.
Linc Energy expects to finalise negotiations and execute the sale contract for the coal tenements in the coming 3 to 4 weeks, with the remaining formalities to be completed in Australia.
Linc Energy’s General Manager of Business Development, Mr Justyn Peters, stated “Whilst the sale process has taken longer than expected, in obtaining all of the necessary off-shore approvals we achieved a fundamental milestone which will allow the parties to complete the sale process relatively quickly from this point. We have worked tirelessly with our Chinese counterparts to obtain the necessary approvals. Completing this milestone has been a challenging and difficult aspect of the sale process, particularly within the current economic climate.”
Linc Energy’s negotiating team will return from China this week. The Company will update the market upon the execution of the sale contract or as soon as any further material information is available; but in any event no later than 4 weeks from today."
S/P currently up 16c to $1.925 after reaching $1.95 earlier today.
Stockholders (myself included) need to remain patient. At least LNC is giving more certainty to Announcements.
"23 March 2009
Coal Tenements Sale Update
•
Linc Energy has received formal notification that all necessary non-Australian approvals for the purchase of its coal tenement assets have now been obtained.
•
Linc Energy expects to finalise negotiations and execute the sale contract for the coal tenements in the coming 3 to 4 weeks.
Linc Energy Ltd (ASX:LNC) (OTCQX : LNCGY) is pleased to announce that its negotiating team was formally notified on Friday, 20th March 2009 that, other than Australian governmental approvals, all necessary approvals have now been obtained by the parties with whom negotiations have been continuing since late 2008 for the proposed purchase of the Emerald (Teresa) coal tenements.
Obtaining these important approvals allows the parties to proceed to finalise negotiations on the remaining transaction details.
Linc Energy expects to finalise negotiations and execute the sale contract for the coal tenements in the coming 3 to 4 weeks, with the remaining formalities to be completed in Australia.
Linc Energy’s General Manager of Business Development, Mr Justyn Peters, stated “Whilst the sale process has taken longer than expected, in obtaining all of the necessary off-shore approvals we achieved a fundamental milestone which will allow the parties to complete the sale process relatively quickly from this point. We have worked tirelessly with our Chinese counterparts to obtain the necessary approvals. Completing this milestone has been a challenging and difficult aspect of the sale process, particularly within the current economic climate.”
Linc Energy’s negotiating team will return from China this week. The Company will update the market upon the execution of the sale contract or as soon as any further material information is available; but in any event no later than 4 weeks from today."
S/P currently up 16c to $1.925 after reaching $1.95 earlier today.
Stockholders (myself included) need to remain patient. At least LNC is giving more certainty to Announcements.
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Sorry forgot to put the link of the announcement.
here is the link:
http://www.asx.com.au/asxpdf/20090323/pdf/31gqdt068gqf76.pdf
here is the link:
http://www.asx.com.au/asxpdf/20090323/pdf/31gqdt068gqf76.pdf
So, approvals have been given by Chinese.
Looks like still negotiating on price. Or maybe waiting on Aust govt approval before signing the contract?
You would think price would have been sorted after 6 months of negotiating.
Also, "further negotiations will be made in Australia" seems to suggest LNC execs not going to China again? You would think if they had further negotiating to do, they would do it on China's soil?
Good to see the SP gaining some ground - although there is a mountain of sellers. Drift sideways hopefully for the next 4 weeks.
Looks like still negotiating on price. Or maybe waiting on Aust govt approval before signing the contract?
You would think price would have been sorted after 6 months of negotiating.
Also, "further negotiations will be made in Australia" seems to suggest LNC execs not going to China again? You would think if they had further negotiating to do, they would do it on China's soil?
Good to see the SP gaining some ground - although there is a mountain of sellers. Drift sideways hopefully for the next 4 weeks.
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I remember him saying in Dec 2008 that we are confident of a sale within the next 4-6 weeks.
Then 3 weeks ago he said that talks are in the final stages with an update by 23 March.
I am not doubting him. I just think we have been here before. So much uncertainty. Stuck in 2nd gear. Time will tell.
Hey Gusto,
Don't think you would be doing too badly at todays prices. The Teresa sale should net $2-3 bucks cash per share after tax - hopefully providing limited downside. As an energy stock, it is HIGHLY leveraged to the oil price. The BBY analyst report on www.lincenergy.com.au provides good detail on the sensitivity of their valuation to the oil price.
Once the Teresa sale goes through, you would be holding for future oil price rises, plus volatility due to confirming that a commercial scale plant produces the goods.
Good luck!
Glads.
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Yes, very happy to see LNC has finally gone past the $2 mark again.
Things are looking good and can't wait to see the the release of an official announcement regarding to the sale.
Things are looking good and can't wait to see the the release of an official announcement regarding to the sale.
With the volume of sales this morning (500,000 in first 10 mins) and many of 10,000 or more, I suspect that there is a lot of overseas buying (probably from US). Currently S/P up $0.26 to $2.43.
I'm a long term holder and happy that LNC finally seems to be taking off.
I'm a long term holder and happy that LNC finally seems to be taking off.
As a long term holder of Linc energy, the suspense is testing me, feels like a lifetime ago since the sale of the tenements was announced. I am hoping that the 3-4 week period is realistic and we will finally have certainty in what has been a test of wills. Once this sale is completed - onwards and upwards.
