Where the bottom is, I have no idea, I just bought some more on...

Where the bottom is, I have no idea, I just bought some more on spec that we are near it, whether that is correct or not, we'll see.

I would speculate that hedge funds and shorter's will continue to hit this until there is confirmation by FIRB, which may see a small rise, then more shorting until execution. Then there is the period until the plants are built. One must also take into account half yearly reports of the bopd progress. Between execution of the suite of contracts and production a number of things may happen to affect the SP IMO.

It was a smart move by GCL to place the money as a equity share stake. This will allow them a considerable tax break on their share trading should they pursue accumulating more shares for later trading. No need for them to rush, purchases over the first 8 mths or so would possibly see their best outcome. However if hedge funds then turn from bear to bull trading, this may see a quicker rise.

All in all total speculation by me though for what either may do. Keep an eye on future 'Change of substantial holding posts', once the deal is signed off.

I bought into LNC on a medium to long term basis, whilst it is not amusing to see such a SP drop on the one hand, on the other it has allowed me to quadruple my initial entry point and shave 10% or so off my initial entry price (which I considered bargain basement anyway).

Would I like to see more conservative management from CEO and Director's? Sure, I would. Is that likely to happen? Highly unlikely. Whingeing about it = waste of time.

I newcomer may ask, "Why increase purchasing when the stock SP keeps diminishing?"

That's easy, for a number of reasons:-

1. At worst case scenario, IMO the assets of this company far outstrip the SP value, even at fire sale. So there's an eventual win there if everything goes belly up. Highly unlikely, but a nice door stop anyway.

2. The touted GCL or GCLP deal once executed and underway is likely to return considerable cash flow and value add a very nice corner stone to LNC.

3. If successful may also supply an effective commercial cost base analysis to other interested parties around the world for utilizing UCG technology.

4. The continuing work done at Teresa, increasing value, whether or not it's kept or sold.

5. On track for increased BOPD income.

6. The S.A. Arckaringa Basin proven potential.

7. Wyoming progressing.

These reasons of course are not definitive, however from my own research for my own investment purposes formed my original investment and further accumulation.

What will you do? Well of course that's up to you. When will the dip bounce? That's the gamble. If your a day or week gambler, then some very tight stops may be the way to go.

In any case, I've finished my coffee, so end's my 2c diatribe for what its worth.

Cheers.