It's all over folks for at least 2-3 years in terms of generating any income from UCG let alone GTL. You only need to look at other UCG players like Carbon Energy to realise they are nothing more than 3-4cent stocks until they gain any sort of traction.
Carbon Energy's negotiation to supply Queensland Power Providers with syngas seems to have stalled with all the recent publicity over alleged water contamination and is not likely to be resolved in the short term.
So, at 44 cents AUD per share anyone left should probably seriously consider whether they hold on because 44 cents is a lot better than 4 cents per share.
As others have pointed out they appear to have serious debt commitments with lower and lower income from whatever oil they are producing.
Barring a miracle the writing is on the wall. No one is propping up the share price any longer. Seriously, what are their 'assets' worth in this current climate?
LNC Price at posting:
99.5¢ Sentiment: Sell Disclosure: Not Held
