Yes GCL will get the JV (67%) for $135M, but GCL have to pay all CAPEX and LNC will get 33% and have "minimal balance sheet exposure".
"first multi-gasifier project to commence construction within 6 months of completion of the suite of formal binding legal agreements"
Well what are you waiting for Bondy, sign the damn thing!
This is major news imo, a very good deal and LNC finally getting UCG/GTL up and running commercially in China is a real turning point.
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4.5 per shares, page-30
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