I can only assume the LIO directors see some strategic value in the new project. It may be an objective of the chinese to get more involved in some of these emerging nations where its easier to get projects off the ground. It certainly has a geographical advantage, proximity-wise.
Its not a related party transaction, there doesnt appear to be any link with the vendors. Management own sufficient shares for our interest to be aligned with theirs. Its also not clear if any value has been added to the project over the last 12 months, only a general re-rating of energy assets everywhere.
I am more optimistic about this, but thats not hard! We'll see.
Still think LIO is undervalued, and would like to think this is a first step towards more exposure for the company, and a bit more excitement.
Good luck
LIO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
