LNC Ripe?

LNC may be ripe for a takeover, but I doubt it.

A while back I place my shares in the bottom drawer and stayed away from even reading LNC on HC. Basically because I've always thought it a longer term bet, one way or the other. My thoughts on that still haven't changed. I did come in a few days ago to have a look around at what was happening. Not impressed to say the least. Ironically we've been here before, even lower in fact.

Last time we were here I bought more on spec. But as I am fully invested in all I intend to spend here I will just sit this time around.

Mounting debt and as per usual lack of timely information appears to be having a debilitating affect overall, especially in sentiment (bit of an understatement it might appear).

The plunge in POO prices has IMO added to LNC's woes (reduced income). Add to that the alleged difficulties in Poland, silence on EXXARO, lack of timely info on the ARC drilling, all quiet on the Umiat/Cooke Inlet UCG front, Wyoming? and finally throw in what I consider an high Admin cost for upper end and here we are.

I'd also like to see a massive Upper end Admin and Director shake up, but doubt that will be on the cards either.

Still, at the end of the day there is still future positives here, such as the UCG, (in various places), we also wait to see what will happen with UCG in Queensland. As for The Arc, if they can trip over a conventional play in the shorter term would be a nice surprise, that's the thing with drilling, one never knows, although it can't be denied that more often than not disappointment occurs.

One could go on with pro's and con's at this point and not surprisingly would have more con's than pro's. It's certainly depressing for long term holders (especially on current company figures) and has been a roller coaster ride to date. I just think there is more ride to come and will stay buckled in for the time being. But as LNC-Link has done, one must make his/her own decisions regarding that. Sorry to lose LNC-Link, but quit understandable in the circumstances.

Good luck to all, whatever your decision, cheers.