Again in today's Courier Mail ( Saturday ) there is an even bigger full two page article regarding the disgraceful execution of Linc Energy and it's share holders.
Shareholders from around the world put in many millions of dollars into what was a perfectly legitimate development for a clean coal to liquids project only to have the Qld State Government sabotage the whole business by filing false charges against the company and it's directors.
Queensland's citizens should be outraged that their tax money was put into this company only to have the Labor Part throw it away to win an election.
The judge, in a hearing this week, called upon the Government to say why the charges were being dropped when the Government it self had stated that Linc had perpetrated the largest environmental damage in Qld's history.
The State Government were financial partners with Linc in this project and the Premier of the day traveled all over the world with Peter Bond - the main developer - promoting the project as part of Queensland's " Smart State " mantra.
Share holders have felt for years that this was a witch hunt by the Government in order to gain electoral support from the Greens in state elections.
It is becoming more and more clear that this was the case.
Shareholders are hoping for a large class action against the government to recoup their losses however the damage done to Queensland and Australian reputations is irreparable.
The recent articles in the Courier Mail over the last week can be viewed on their website. I would recommend that every shareholder in Australia - not only Linc holders - read what can be done by state governments in the name of fictional global warming.
What was being developed by Linc was a very clean fuel for use in engines including jet engines that would have been of enormous benefit to the world and to Australia's financial future.
Lockitt
LNC Price at posting:
99.5¢ Sentiment: None Disclosure: Held
