The silly thing is there was an actual buyer, and it was done off market... that should tell you something... also if the North American buyer tried to buy on market the share price would be way over $3 imo ...
Also check out the spread on the OCTQX http://www.otcqx.com/qx/market/quote?symbol=LNCGY&tab=1
Hopefully there is some relationship with the North American investors, maybe with EOR, old oil fiels, or some sort of JV...
Basilio wrote
"Puzzling isn't it ? If your a director of a 'soon to be' thriving company why would you sell off the company shares from your private super fund ?
My guess is that the yanks wanted some shares quickly and that good relations dictated someone on the Board give them up rather than have their partners buy them on the ASX with the masses.
I suggest that there might be some sort of side agreement that would see extra shares reallocated to Ken Dark and Craig Ricato at some future time."
Mickel wrote
"I think you may be on the money there, Bas. That Bondy publicly praised them for giving up the shares, suggests there will be an accomodation for them in the future. ......
...One comment he made when advising he wouldn't be driving a car on LNC Diesel from Chinchilla to Perth this year (he will do it early next year with publicity) was that he was too busy with presentations around the world to push the share price back up above $5.00. This drew applause as you can hear."
LNC Price at posting:
$2.94 Sentiment: None Disclosure: Held
