"Bond says the Linc share register is attracting many funds based in New York and Boston which are familiar with the potential of shale oil. Many of these funds are sitting behind the recent substantial shareholder notice lodged by Credit Suisse.
Another buyer of the stock has been Russian billionaire Roman Abramovich , according to Bond, but he will not say how many shares he owns.
Long-standing investors in Linc will be familiar with the powerful impact an announcement can have on the company’s shares. In 2008, Linc said it was selling interests in its Emerald coal tenements to Chinese investors for $1.5 billion. That potential deal boosted the stock price substantially but the global financial crisis put an end to it.
The deal was officially terminated in February 2009"
10 cents. the chooks have come home to roost
LNC Price at posting:
99.5¢ Sentiment: Hold Disclosure: Not Held