"PB looks tired, pissed, frustrated and uncertain.. or the combination of all. I am pissed and stressed holding Linc too.."
LNCs body language of late has been increasingly desperate, IMO. I believe Sept13 Oil Prodn, or lack thereof, will trigger a default event with regard to the Convertable Bonds. The flight to the SGX, IMO, is a desperate move to recapitalise. As I said yesterday, the EGM is on 6.11.13 and LNC cannot suspend from trading until 15.11.13, approxiamately when the Sept13 quarterly is due. By suspending & delisting, LNC will not be bound by ASX listing rules. The 'IPO float' on the SGX, IMO, will happen before Sept13 prodn results are known. The Aust Corporations Act will require LNC to continously disclose, but if Bond doesn't know, he doesn't have to disclose. There will be a 'go slow' on the Sept13 prodn results, they will be VERY VERY LATE, IMO.
All the above is my personal opinion and pure speculation.
BOLAH.
LNC Price at posting:
$1.26 Sentiment: None Disclosure: Not Held
