My thoughts this week... Leigh Creek in 2019 discovered Australia’s largest uncontracted 2P gas reserve serving the East Coast market. Ticker code at the time was LCK. The discovery sent the share price 40c+ in 2019 with strong proven reserves of close to 8% of the entire East Coast gas reserves. But management are fickle/useless issuing more shares in CR after CR without actually achieving any financial goals. Now the chart is a disgrace recently touching 1.5c & closing today @ 1.6c with a market cap of approximately 23 million dollars. I have traded this stock in the past (before 2023's decline) but am interesting in the value never unlocked by the company's excellent proven reserves. At a MC of 23m it looks an interesting asset play that the market has long since forgotten about. Surely someone is running the ruler over this one.
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