I tend to agree with both of you. As PB said there has been a lot more interest in the past few weeks as we come out of the depths of the GFC. The fact that Chinalco missed out on Rio and Minmetals had to up the ante on OZ means to me that the Chinese will be starting to shed the expectancy of cheap firesale prices and possibly become more reasonable in securing their resources for the future. They are clearly not going to get it all their own way in the future. I still think (as do others) that the Palmer group will feature in the negotiations. He might well be a tougher negotiator than the Chinese. Until the ann on the Gallilee basin tenement came out I didn't fully understand the extent of the Linc coal tenement holdings - the list is quite extensive. It is clear the plan was to gain the tenements, drill them out, upgrade the value and onsell to fund the GTL program. Not a bad way to do things IMO.
P
LNC Price at posting:
$1.98 Sentiment: LT Buy Disclosure: Held
