This explain the latest round of selling from the US vendor...
+++++++++++++++++++++++++++++++++++++++++++++++ Linc announced on 4 March 2010 that it had completed the acquisition of the respective transactions with GasTech lnc and Wold Oil Properties previously announced to the market on 24 December 2009. As such, 3,848,697 shares were issued to GasTech lnc at $1 .44 per share in accordance with the terms of the agreement.
Three subsequent instalments of US$5,000,000 each of Linc shares valued at the 10 day volume weighted average price ("VWAP") prior to the anniversary date will be issued on each 6 month anniversary of the transaction. GasTech also retains a royalty interest of one quarter (up to 2.0%) of the coal production royalty payable to the State of Wyoming. Wold Oil retains a royalty interest of 2.0% of the market value of coal mined and sold from the Williston Basin leases. Linc now controls 173,327 acres of coal leases in the Powder River and Williston Basins.
LNC Price at posting:
$1.57 Sentiment: None Disclosure: Held
