LNC Ditch, page-35

There are a number of ingredients in the Linc Energy, PB celebrity chef pies that may contain financial salmonella. You must have investment guts of iron to buy more shares in these pies!

Ask yourself if the pies have good ingredients and do you trust current management to cook them to perfection?

Ingredients in good pies:
Healthy balance sheet (able to withstand financial shock and able to invest in opportunities)
Good Cash Flow (avoid insolvency)
Low debt levels (avoid dilution / capital raise)
Commercial project underway (imminent cash flow)
Binding contracts for more projects in a long term pipeline (future growth)
History of delivering on promises (good management, not full of s**t)
Good assets in commodities with healthy prices
Ability to sell assets above book value.