I had been umming and arring about opening an international account. At present I have a Comsec account for ASX. I spoke to Comsec and was informed of their fees and fees and fees for an International Account. Like others my thought on hearing those was "Fee that", okay maybe the first word was a tad different.
My original strategy for purchasing LNC was not to day or short term trade, but a long term view based on their UCG potential, coal assets, Adani royalty and USA oil production (which I'm happy to say has improved dramatically since my purchase). Umiat and Arck were not real considerations other than "Brilliant Bonanza if either prove positive." Of course, since then we have been drilling at Umiat with perhaps this year being the most telling to enable a flow. Arck of course still awaits JV and/or further exploration confirmation, or perhaps one should say clarification of the extent of recoverable resources there.
I always expected UCG to take a few years more to get up a good head of steam. The past and present Qld Gov's procrastination and deferral of course has been disappointing to say the least (I can think of a few other choice words and phrases for that). Pity they didn't give as much caution/investigation to CSG, but that's another story. With limited information though, we seem to be progressing nicely in the International scene.
So really I'm at the stage that I will simply receive the Certificate of shares held and sit on it until I am ready to sell. Then either proceed through a Broker or open an International account through someone else at that time. Who knows, Comsec may eventually realize they are missing a good market opportunity with their (IMAmateurO) expensive outdated International account fee structure. After all there is a large SMSF and SM investors market out there these days, but I digress.
In short, as I'm in for the longer haul, I've decided there's no need to rush out and gain an International account. Just await my Certificate and sit on it until I'm ready to sell. In the mean time, once we go to the SGX, I can see the SP on Linc website (albeit 20 min delay) as well as any announcements.
Apparently if there is still interest, the HC Linc forum will continue as hopefully will some of the excellent posters here.
My strategy may or may not be the most brilliant, only hindsight will confirm or deny my decision.
As for day and short term traders, good luck, I think the last week or less of trade may prove quite interesting.
LNC Price at posting:
$1.28 Sentiment: LT Buy Disclosure: Held
