Ann: Leigh Creek Energy Produces Quality Syngas, page-14

Positive news we are progressing although really had hoped to see that flow rates were at a commercial level.

Still confident we will get there but it seems the market is frustrated with the time frame and the perceived further delay to demonstrate the required gas flow at a sustainable commercial syngas levels.

If there was a logical explanation to the delay (ie water in a drill hole as speculated) then a simple explanation around this as a part of another announcement would reassure people that all is ok.

LCK had clearly hoped to be awaiting confirmation by a 3rd party for a resource upgrade to 2P by now with a share price possibly in the high teens and slowly rising.  As it stands we have people selling off and at this rate if the share price drops a few more cents then why would you participate in the rights issue when could possibly get shares on the market cheaper? Hopefully it doesn't get to this.

As I said, still positive we get there but 6 months ago we all thought that if an announcement such as todays was made we'd see significant volume and a sharp increase in price. 

As a matter of interest and looking forward, after our resource upgrade to 2P what would be the next catalyst for a further re rate in share price?

IMO