Hi Penny, I think they might be able to flare by end of Q4 but...

Hi Penny,

I think they might be able to flare by end of Q4 but more likely in Q1 18., so agree with you there.

Recent correspondence I had with Tony Lawry suggests submission of government approvals docos is under a month away ( I believe I posted this in another thread), however we all know the government with take some time to review and provide recommendations etc, so perhaps their estimate of flaring by Q4 is ambitious as you say.

I would hope that the drilling and installation of the inlet and outlet wells wouldn't take more than a month or so. I say this as I believe with the funding we now have, LCK should be able to commission two rigs, I'd imagine they'd air hammer down a pilot hole for each to (say) 600 m (takes about 2 days), then ream out those holes with a large diameter bit, and case (say a week or two per hole). For me I think the inlet and outlet wells could be installed in about a month or so with two rigs on site - but I believe there is also directional drilling between the two? (and that's not my area of expertise!)

I think the comment about their salaries is more something they should be mindful of if project timelines were to blow out. I work in the minerals and energy sector and have a couple decades less experience than these guys - and am paid about half what they earn, however I couldn't bring half as much to the table as them. The numbers don't surprise me that much, the key is that they are all shareholders - so their salaries are peanuts compared to what they will earn once share price growth is realised.

But the comment about 'spend only' is perhaps a little unfair - this company literally have to spend money to make money - and for me they are achieving all the milestones they set, albeit with some delays in timing,

I am not too concerned if the target date for flaring is missed by a month, as I hold options in LCK expiring in June - so far I am yet to see why these wont be an exercisable option for me (and a handsome profit maker too).

All my opinion, for whatever it is (or isn't) worth !