LNC - Linc Energy

[glads262]

It is disappointing to note that LNC has not kept it's commitment of 23 Mar 09
to report no later than in 4 weeks (ie 20 Apr 09) about the Teresa coal tenement sale progress.

I assume that they are still at least some days away from finalising the negotiations, otherwise they could call a trading halt for a day or two.

No doubt the Chinese are trying to screw them down on the price. Perhaps P Bond thinks there is a good chance that they will agree on an acceptable price at any moment. In that situation he could then make a favourable announcement rather than just say negotiations "are continuing".

But, how long can the market wait (without the S/P crashing) with no announcement?

S/P closed 20/4 at $2.13 opened this morning at $2.05 reached high of $2.10 and a low of $2.02. Currently trading at $2.07 on volume of 310,000.

As previously stated, I am a long term holder.

I agree. They are tarnishing their credibility with these late announcements. At least should have the courtesy to provide an update when they said they would. It is the height of rudeness to be late without informing that you will in fact be late.

I would have thought with no announcement, POO down 8%, DOW down 4% that the SP would have crashed already. Obviously all the traders out there are willing to hold until the announcement comes through - whenever that may be.

 

[Jazzee]

I remain positive that the sale will proceed. It is frustrating that Linc seem to be unable to stick to timeframes they set themselves. I am looking forward to this sale being finalised as I see it as a cloud hanging over the company in the current environment.

 

[Jazzee]

Looks like they have learnt their lessons. There is no d-day in this announcement. There is a little bit of new info there though, not just Emerald.

 

[glads262]

Looks like they have learnt their lessons. There is no d-day in this announcement. There is a little bit of new info there though, not just Emerald.

I agree - this is perhaps what they should have been saying all along - not actually announcing a date but saying "will continue to keep market updated"

I guess its a good thing that other tenements are involved. I would have preferred they get Teresa in the sack before looking at selling these. Don't see the point in selling two coal tenements at the bottom of the market if the cash is not needed. They could have waited until they know what $ Teresa would have received - meanwhile continue drilling and proving up the resources to maximise future sale value when coal price is higher.

But oh well, we'll see what comes of it. Pentland was previously said to be worth perhaps $200 million. Not sure of the other. Haven't had any drilling updates on these for ages.
Perhaps all three should net around the $1 billion figure needed?

Can't wait for the deal when it does finally happen.

 

[Mickel]

I think P Bond wants a sale price of $1 Billion + for headline value as well as giving LINC a decent kitty apart from construction cost of the 20,000 bpd plant.

A headline of "1 Billion + Sale Price" for a company like LINC with a capitalisation of less than $2 Billion would create much interest and do wonders for the S/P, as we have seen with the initial announcement.

To achieve this he has had to include the other coal tenements in the sale.

My opinion only. I hold.

 

[Jazzee]

I completely agree. I think that whilst a $1 billion price, would not be a record price, I think it would be magnificent in the current market and would allow Linc to go forward with everything that is currently planned. I am also holding.

 

[DowJones]

I think the recent run-up in this stock was in the 2.40s

Its announcement yesterday after hours seems to have been liked by the market. The share price has retraced back to the 2.20s...

Holding this one long term but should have topped up yesterday

 

[Nero64]

Holding this one long term but should have topped up yesterday

Yeah agreed. I felt that way when it start pushing up from the .90c mark. It's in our nature to always pay the lower price. It should go sub $2 again if the market is not updated in a week or so or the Dow tanks another 300-400.

 

[DowJones]

Yeah agreed. I felt that way when it start pushing up from the .90c mark. It's in our nature to always pay the lower price. It should go sub $2 again if the market is not updated in a week or so or the Dow tanks another 300-400.

That was advice from my financial adviser - Harry Hindsight

Now the important element is the negotiated price for the coal asset sale. Hope they are good negotiators - I think the timing is decent (better than say a month ago), with certain commodities showing signs of a recovery trend.

 

[tasweb]

I have no idea who these guys are or if they have any idea at all, but I thought it was interesting that they recommend a buy based purely on fundamentals with no mention of asset sales.

CNBC Video

P.S. pretty blue flames!

P.P.S. I am a small holder.

[edit]<slaps forehead> Sorry, just watched it again, and they do mention the asset sales</stops slapping>

 

[Boggo]

Popped up in my scan tonight, this particular scan has been getting some good results over the last few weeks.

(click to expand)

 

[Mickel]

LNC creeping ahead today to finish up 4c to $2.30 on volume of 1.266M .

Hope it will increase to $2.50 over the next week as positive sentiment regarding the extra 2 tenements for sale holds.

I hold.

 

[Mickel]

From today's Courier Mail City Beat column (page 62)-

"Vietnamese Link
A heavyweight grouping of business, mining and Vietnamese government types are in Queensland this week for a close look at Linc Energy.

Led by a Vice-Minister in the Vietnamese Government, the group has put pen to paper to sign off on a Linc Energy joint venture in Vietnam.

Linc now has more than a dozen joint venture opportunities with governments around the world and Federal Resources Minister Martin Ferguson was on hand to witness the deal and to give it strong support in Brisbane this week.

Linc put on a gala dinner to mark the occasion and the Vietnamese delegation quickly responded that they would host the next shindig in Vietnam. Linc Energy boss Peter "Shaken But Not Stirred" Bond returned to work this week after a well-earned short holiday. "

 

[Mickel]

Further to my last post (890) ASX announcement this morning from LNC regarding the official opening of the GTL facility by Minister for Resources Martin Ferguson on Wed 22/4 and a subsequent media release by him supporting coal to liquids and gas to liquids technologies.

Ref- http://www.asx.com.au/asxpdf/20090424/pdf/31h6m8d8zwqm52.pdf

With the international guest list at the opening, I would expect more overseas interest and buying over the short term. Perhaps some of yesterday's sales were from overseas.

 

[mortsta]

if cnbc says buy it...dont touch it with a barge pole...
i've held since .25c...i told my bruther to buy more when it hit .17c but we didnt have the cash...wished i'd sold my wife to buy more at that price!!

 

[Jazzee]

So, does anyone have a thought on how long it is going to be before we have a further update on the tenement sale? The market seems to be liking Linc today..

 

[glads262]

So, does anyone have a thought on how long it is going to be before we have a further update on the tenement sale? The market seems to be liking Linc today..

How long is a piece of string??
It could be any time now.
I would say the strength today is in line with strength in all energy stocks due to the rise in oil on Friday.

 

[Jazzee]

So what do we think is going on today, we have wooshed forward. I wonder if there will be a fallback in the share price (in true Linc style), or are we close to the sale being finalised?

 

[RP_Automotive]

It seems to be holding up for now, but not a huge amount of volume either. I can't see the SP finding support much higher untill a announcement comes out. I, ofcourse am more than happy to be be proved wrong

Edit: or ofcourse insider info.

 

[gohawks]

So what do we think is going on today, we have wooshed forward. I wonder if there will be a fallback in the share price (in true Linc style), or are we close to the sale being finalised?

Insider knowledge? Sale must have gone through just not official as of yet?

Enjoying the ride either way.