A very tricky time for LCK.
Fertilzer production may be financially better than producing fuel gas but I don't think the market understands that, and always perceived this to be an onshore gas project. Managing the change in perception is a challenge.
Can't manufacture news out of thin air; either they have something to announce or they don't.
In any case, what great news can they announce that would propel the share price North sufficiently to make the cash raise attractive?
And will people who take-up the offer simply sell it down to make a profit anyway?
There are doubts about the technical feasibility of this project given the struggle getting the coal to fire up properly to generate syngas; an explanation from the company describing the technical issues and if they are just teething problems? would be useful at this time.
We await the all important gas flow and constituents report, but that will take a few weeks to materialise.
In the meantime, we are burning cash faster than we are burning gas.
This is a nail biter.
IMO
DYR
