In regards to comments I have seen saying "the Teresa coal deposit is not mineable, its too thin to mine"
Why, if the deposit is not mineable would Xinwen offer $1.5 billion initially??
Also, as stated in previous announcements, of the 800m tons, approx 200m are highly suitable to mining & close to infrastructure. This is what Xinwen are buying.
Realistically, if they don't buy it soon, someone else will. Is the demand for coal going down in the next 5 years?? I doubt it. Coal price will begin to rise again - making the urgency of a deal greater for the buyer.
It will happen. Its just a matter of time - something that all the "short term traders" out there obviously don't have. Most of those are off the register now anyway.
Thats good for me - means that when the announcement is made (whenever that is...) they will all want to buy back in - which will zoom the SP. Don't forget only 50% of the shares of LNC are tradeable due to PB holding. take out another 30% of shares for those holding long term, employees etc, and there are not many shares available when the announcement is made.
LNC Price at posting:
$2.11 Sentiment: Buy Disclosure: Held
