at this stage no capital raisings .!., page-7

If the GCL deal doesn't happen shortly, and by what was stated in the quarterly report it doesn't look like its going to happen any time soon despite announcement after announcement stating it would be completed by now..it hasn't, LNC are going to have to go back to the market within the next 3 months.

Look at the numbers in the 5B:-

Net Operating Cashflow -$30.8m Mar-Jun Qtr.
Estimated Expenditure for the next Quarter - $57.3m

Cash at end if Qtr - $27.1m
Funds available from credit facility - $60m

Total Funds available - $87m
Expenses next Qtr - $57m
Funds left if no CR, no funds from CGL or Teresa Sale - $30m (i.e. 1 months net operating cash-flow).

The reality is LNC has about 5 months to either sell Teresa, close the GCL deal or go to the markets. Even if the US hits its production targets, it still won't offset the operating cash burn of LNC.

I can't see the markets being real impressed with this at all.