mou in victoria, page-7

Delighted to see this. A MOU somewhere without excessive political risk.

“If the process can be applied to the brown coals” : No indeed, nothing is certain. However much of the world’s UCG (in particular Angren) is in lignite, not higher ranked coals. It’s nice to have a brief overview of why lignite is poorly suited to digging up and burning.

“Where are they going to get the money from?” : It’ll be a while before they need it – this next 12 months will surely be sitting down with the coal exploration data and inwardly digesting it to decide how, where and if to go forwards. And the JV’s going to start its spending slowly, checking out the planned site. Just the same as Linc’s MOU’s won’t be chewing cash for a while – the MOUs for both companies are land-grabs to reserve future expansion capability at minimum current cost whilst their main project proves (or otherwise) that they can make a commercial success of the activity.

“It is nice to see that Dr Walker is now starting to follow LNC’s lead though” : In suggesting the possibility of CTL?
If you look at the reverse takeover document, you’ll see “Cougar ... plans to be a significant international supplier of low cost industrial gas derived from the utilisation of UCG to produce gas for use in power generation and the production of other PETRO-CHEMICAL products”.
The issue is merely one of how best to reach that point. Starting off with small power generation, going to bigger generation and then to CTL is a feasible incremental plan for reaching the ultimate goal with minimal risk – and minimal dilution because each successive project is raising funds after the previous ones have proved something economically significant. Aiming straight at CTL is a rather different kettle of fish. High profile but many more chances for slipping up.

“Shares on issue”. You’ll be conning yourself if you don’t take account of the options when there’s so many of them about. I make it around 675m shares, albeit the exercise will raise about $12m. Ptolemy, what have I missed if you reckon >700m?
I have 400m ordinaries, 10m partly paids, 194m 5c options and 72.5m 3c options.