I have just returned from tonights Limelight presentation held at Caloundra, Qld. I was a bit shocked to see Peter Bond himself turn up, considering his time constraints etc. I found him to be every bit as passionate and down to earth as I have been lead to believe. You will have to bear with me, having a few beers afterwards, these are my recollections of a few subjects touched. He casually mentioned Co2 as a saleable product! Apparently there is a growing industry in the USA that on sells this in liquified form. It is used in old depleted oil wells to 'coax' (for the want of a better word) the remaining oil from the rock to the surface. He can see this as a growth industry in the USA and Linc will be involved in supplying this Co2! First I have heard of it. Mentioned that he had had to say NO on numerous occasions re the last sale. Said that the Indian Co buying, literally are all but out of coal for their furnaces and are still building more. He expects them to be very aggresive in getting Galilee producing, hopefully in next 4 years. Said the contract is set up, so that the closer (even on a week to week basis) we get to royalties the more valuable it will be to on sell, if required. Very, very upbeat about the Powder River leases, in their physical size and how well it is placed in the middle of the USA, for distribution. Really pushed home the point about building the plant modules offshore like a 'sausage machine' one after the other, to be erected anywhere in the world. Had a chat afterwards with a Linc person, re a possible JV partner. I mentioned the big oil companies but he seemed to dismiss it and said you would be very surprised as to who it might be. Again, this is my interpretation. All in all a VERY entertaining night, I encourage anyone who gets the chance to go along.
I STILL can't believe Bondy was there and was such a likable larican, even told a few jokes.
LNC Price at posting:
$1.77 Sentiment: Buy Disclosure: Held
