Australian (ASX) Stock Market Forum

LNC - Linc Energy

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AWG that's what I have been trying to tell you. There is no one selling these shares at present. Once it hits top 200 there will be more turnover. At present Maquarie and the like can't rec these to anyone.

PS - TA it is my job to be on the phone to the broker for my clients. So every now and then I want to make some money too.
 
Guys, don't start rumours about management and the share drop to $3.70 last friday and the market placement @ $3.70.

If you read the announcement, The placement was at $3.70 because thats what the last market close was at on friday. If the market closed at $3.90 or $4.00 thats what the placements would of been at.


From announcement:
Linc Energy Limited (ASX:LNC) announced today that it had raised AU$100m via a placement of approximately 27 million fully paid ordinary shares to institutional and sophisticated investors at $3.70 per share, which was priced at market, based on the Linc Energy stock price close of last Friday 20th June 2008.


Cheers

LM
 
Hey LittleMak, you don't work for LNC?

Tony (AWG) has a pretty valid point regarding the timing of the SP in regard to a placement of 27 Million shares.

Now I might be a little cynical (perhaps like Tony) but if the share price were forced down by 'interested parties' those buying a placement of 27 million shares stood to save a considerable amount of money.

Its one thing for the SP to retreat a little given its outstanding run but 15% plus retracement appears overdone.

Its chart would show support around $4 to $4.20 not $3.70

Anyway, can't complain it done quite a few of us quite nicely.

It'll be interesting to see the SP on the day the plant starts producing liquid gold!! [Regards ColB]
 
http://www.lincenergy.com.au/pdf/asx-14.pdf

This will tell you who the top 84% of shareholders are. They aren't selling.
Just looked at trade volumes for today. Couple of 20000 and 10000. Buyers of 56000 (286000 turnover for day so far). If you sell as an individual I reckon the bigs are buying yours back to strengthen price of long term.
 
TD In the interests of accuracy I list below the latest top 20 shareholders from the 2007 annual report ( available on the Linc website).

Your list was at the 12 March 2007. As you can see it has changed a bit with the top 20 dropping from 84.87% to 77.36%.

No doubt the list to be published in the 2008 annual report will change again. It will be interesting to see if the top 20 drops further from 77%.

The shareholder information set out below was applicable as at 30 June 2007.
A. Distribution of equity securities
Analysis of numbers of equity security holders by size of holding:
Ordinary shares
Shares Options
1 ‑ 1,000 43,635 -
1,001 ‑ 5,000 1,739,227 -
5,001 - 10,000 4,656,391 -
10,001 - 100,000 37,495,438 -
100,001 and over 277,325,692 1,000,000
B. Eq uity security holders
Twenty largest quoted equity security holders
The names of the twenty largest holders of quoted equity securities are listed below:
Name Ordinary shares
Number held
Percentage of
issued shares
Newtron Pty Limited 201,557,383 62.74%
HSBC Custody Nominees 9,244,737 2.88%
Steven Fierro 6,000,000 1.87%
W K Prospecting Pty Limited 5,120,000 1.59%
Impala Fund LP 2,899,000 0.90%
Mark Tomkins 2,500,000 0.78%
Impala Fund Ltd 2,470,000 0.77%
HSBC Custody Nominees (Australia) Limited 2,387,524 0.74%
Perpetual Custodians Limited 2,280,382 0.71%
Transpacific Capital Pty Ltd 2,000,000 0.62%
HSBC Custody Nominees (Australia) Limited-A/C 2 1,722,785 0.54%
Citicorp Nominees Pty Limited 1,432,000 0.45%
ANZ Nominees Limited 1,387,400 0.43%
Shearwater Pty Ltd 1,300,000 0.40%
Ergo Exergy Technologies Inc 1,230,000 0.38%
Isny Pty Limited 1,200,000 0.37%
Perpetual Trustees 1,185,648 0.37%
Douglas Joseph Fierro 1,000,000 0.31%
Mrs Jadwiga Janowski + Mr Marek Janowski 967,000 0.30%
Van De Velde Consulting Group 660,000 0.21%

248,543,859 77.36%
 
Thought I would post a chart to see how the beast is holding up. Looks to have found new resistance at $3.70 which is the recent capital raising price (which really is in the middle of nowhere as far as the chart is concerned).

Good news about the full commissioning could help the rest of the camp along eg metex, cougar, etc. Bad news might........better not say it out loud.
 

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Is there any good reason to think the plant won't be commissioned as per expectations? LINC seems to have a satisfactory history of achieving its results.
 
The lemmings are on the move.They will not be missed. As far as I can see this stock should be resilient to the general market movements. I bought LNC
at 71c and have had a volatile ride but the trend is always upwards.
 
Some great news:

CHINCHILLA PILOT BURN PROJECT
Linc Energy was granted an Exploration Permit for Coal at Chinchilla, Queensland - Australia in December 1998 and commenced work on site in July 1999. Gas was first produced on Boxing Day of the same year. After more than two years of producing gas, Linc was able to prove complete control of the process and environmental stability.

The success of this operation, places it above all other similar developments around the world.

"The process of UCG appears to be technically feasible with no technical barriers being identified at this stage. With a high availability of product gas over two years, the Chinchilla UCG trial is the longest and largest gasification trial in the Western world." Shedden Uhde's technical report, November 2005.

"The Chinchilla UCG project, has demonstrated that the UCG process can be operated without uncontrolled impacts on groundwater.", Golder Associates' environmental report, December 2005.

"The UCG operation in Chinchilla is by far the largest and the longest ever in the Western world. The process displayed high efficiency and consistency in providing gas of stable quality and quantity, and the cost of the UCG gas produced proved to be comparable (on a per unit of energy basis) with the very low cost of thermal coal in the Australian market,", Golder Associates' environmental report, December 2005.

Why is Linc Energy's Chinchilla UCG facility recognised as the most successful ever in the Western world?

35,000 tonnes of coal gasified at Chinchilla - more than in any other UCG trial. Within the Rocky Mountain 1 trial - considered the most successful UCG trial in the United States - only 10,000 tonnes were gasified.
80 million Nm3 of gas produced at 4.5 - 5.7 MJ/m3
A maximum capacity of 80,000Nm3/hr or 675 tonnes of coal per day was reached at the Chinchilla plant. In comparison, the Rocky Mountain 1 trial achieved a maximum gasification rate of 200 tonnes of coal per day.
The Chinchilla trial proved availability of gas production over 30 months - by far the longest ever recorded outside the ex-USSR.
95% recovery of coal resource
75% of total energy recovery
9 injection / production wells
19 monitoring wells
Average depth of 140m
High quality and consistency of syngas
No groundwater contamination registered
No subsidence has occurred
No surface contamination detected
No environmental issues have been identified to date during the controlled shutdown process
 
Big drop today! Maybe people are taking no news on the chinchilla project as bad news?

The Linc site says it is a demonstration burn so when can we expect a commercial facility?
 
There is a big drop in LINC and it seems on large volume as well. Raises a couple of thoughts and questions.

1) How do the "sophisticated" investors feel who placed $100 mill with LINC and have watched their shares drop over 35% in a few days.
2) Is there something we should know about the commissioning of the trial plant that isn't coming out? Is this being reflected in the current slump?
3) Given that the stock is tightly held who is doing the selling? Is there any chance some of the selling is coming from the major shareholders?
 
If you look at the sellers, they are selling in lots of 5000 and 10000.
However, there are buyers of 20000 and 30000. I think it is just having a shakeout like the whole market.
I would say that most of that $100mil was borrowed money and there is someone targeting LNC forcing the short of the stock price and standing back and buying all the stock back off those who are getting margin calls and have to sell.
I found it unusual that it neared $5 4 weeks ago, and now trading back at 2.80. In that time LNC was asked to explain its share price appreciation and they said institutional investment. I bet when they get asked about the depreciation this week they will say instiutional investors. They should say Hedge Funds!!
I would like to see who the holders are of the stock and compare against last list.
I had a look at some Shearwater is an American capital management fund for Doctors.
Citi group, Perpetual, HSBC. All of these guys are turning them over and making a fortune.
Hang in there! Hopefully they will have black gold flowing soon!
 
With the price of oil going stronger and stronger, so should the share price of Linc. After all, this could be our solution to importing of oil for Australia.

However, I am more than happy with the sell off, time to add to my holding while others panic.

When there is blood on the street, that is the time to buy, not sell! Perhaps one more day of capitulation, and I'll be scooping up on this one.
 
Plus I just found out that the price of coal fell 10% overnight.
That would also add to some getting the shakes and heading for the door.
 
The Dealer said:
Plus I just found out that the price of coal fell 10% overnight.
That would also add to some getting the shakes and heading for the door.
Click to expand...

I thought that the drop was for spot prices, not Coal in general.

I could be corrected on this.

stad
 
grace said:
With the price of oil going stronger and stronger, so should the share price of Linc. After all, this could be our solution to importing of oil for Australia.

However, I am more than happy with the sell off, time to add to my holding while others panic.

When there is blood on the street, that is the time to buy, not sell! Perhaps one more day of capitulation, and I'll be scooping up on this one.
Click to expand...

Yes. I would have thought that Linc would be one of the few that would benefit from the rising price of oil, however oil shares retreated yesterday too. I think it is the lemming syndrome. I bought some more yesterday near the bottom. Courage will win out. The good news day will be the day when the Linc vehicle fleet start filling up with diesal at the Linc bowser.
 
There is good support at $3 on Linc. Busted through that yesterday, but a better day today. I was hoping to pick up some more sub $3 but might just wait to see what the DOW does over the next week or two. .:D

Link are picking up quite a few more SXP, with no other bidder yet. I don't think there will be one now.;)
 
I received similar email from the DailyReckoning just today... after reading it - it has the feel of 'ramping' to me....

Quote from that link

The technology is proven. And this company has the IP and patents locked up airtight.
Click to expand...

LNC are not the only people doing it...

this one is in commercial production already...

http://www.mediaclubsouthafrica.com...el+from+coal&catid=38:innovation_bg&Itemid=56

Nevertheless,.. the technology is exciting!

Perhaps Australia will be the next Dubai?
 

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