analyst rating, page-10

Even if they went the IPO route, I doubt they would be able to raise anywhere near 300-500 mil Australian $'s. That's a fairly large market cap for a relatively small coal company and they certainly couldn't siphon all the of the spun off companies funds over to LINC for their operations/expenditures as they will still have to operate the coal business. I honestly don't know which is the best way to proceed right now especially with the low price of coal.