Dare where others fear to tread......... good on you Pie, didn't...

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rockofgib

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18/06/21

11:56

Post #: 53922096
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Originally posted by Pie-O-My: ↑

I was a bit greedy with my bid, including the options, I almost doubled my holding, so I wasn't too concerned with the 28% scale back. I was grateful that the broker was able to grab a few for the punters.

I'm not sure if anyone else tuned in to see Phil Staveley at the MST Access Australian Micro & Small Caps Conference..

The company is very happy with their geosequestration solution, they will be announcing something on it in the coming months.
The carbon will be stored in reductant gasifiers, there is also the potential for future revenue by storing other companies carbon.
They could increase the reserve, but they won't because they don't want to spend the money.
The 30 year life of the project is a minimum, it will be closer to 50+ years.
When the company was looking to sell gas, before the urea option, there was a 6 billion dollar offtake offer, over the life of the project - ''thank god we did'' (turn down the offer).
Currently, there is a firm offer on the table for 500,000 tonnes of urea a year.
Daelim looking to provide 70% finance for the project. They are in no rush to source the other 30%, they will go through to FID next year, when they expect to have the share price a lot higher (obviously for potential equity stake). That aside they are also speaking with strategic partners at the moment - which also gave the impression that the gap funding could potentially be filled via debt.
By June 30, he expects the Daelim deal to happen comfortably by then.
Construction to start for Stage 2 - January 2023.
They are looking at having 60% of the urea tied up in an offtake/s ( % discount to spot price), and the other 40% they'll let it float.

All the best Creekers, and go Panthers!

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Dare where others fear to tread......... good on you Pie, didn't quite double my holdings but added another chunk, but of course the real prize is the oppie (based on a significantly higher future SP). Good reminder on the MST Conference, I knew there was something I needed to go back and check out (hopefully its available to view).

Should LCK be able to snare the deal before end of June with Daelim (I think you pointed out previously the Directors have an interest in this happening option wise), it'll be interesting to see the impact on the SP - have seen a couple of other companies hit deals with the SP not managing to hold much impetus....
LCK Price at posting: 19.0¢ Sentiment: Buy Disclosure: Held
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