In this current market I do not think a cap raising "for LNC" would go down well. It will take years. EOR? From memory, I don't believe there is any pipelines near where LNC would set up the UCG/GTL to pump into Wyoming. I could be wrong. I've lost interest in LNC since PB changed strategy.
This was a UCG/GTL company. What is it now? Nobody knows and the market has re-rated it accordingly. Start of the year LNC shareholders were told that a 5,000bopd plant would be up and running by around the end of the year.
Where are the updates with regard to progress? What's the new timeline?
Dan and jimako have raised very valid questions and I concur with their line of thinking.
Poor communication with promises at the end of last year. You only need to go to last year's end of year newsletter to see where LNC is at today. Nowhere near where shareholders were promised.
I hope PB delivers soon cos I really do think the retail investors (the larger ones) will send this stock down closer to $1.00 by year's end.
:) Nic
LNC Price at posting:
$1.86 Sentiment: None Disclosure: Not Held
