no brainer investment at these prices, page-6

Danhold,

I take your point that there is big cash burn, and I have doubts in claims that they will be profit/loss neutral by the end of the year from their U.S. oil assets. But they will achieve this eventually, and it's these assets that the hundreds of millions were spent on (this money wasn't just wasted, it was invested).

So this isn't the story of two years ago (which was just UCG commercialisation hopes and a need to divest coal assets to fund this development). Now the story has a third part - US oil field assets which will bring steady cash to the company.

Ultimately I buy the story of diversification of R&D assets (UCG) with cash producing assets (U.S. oil fields, future Adani royalties) and cream on this cake (coal assets) in case they pull off another coal sale. Teresa has been problematic, but whilst we were all rightfully whining about this dragging on they successfully sold Emerald (which I didn't see coming at the time... that is until the prolific insider trading on the shares leading up to the announcement...). This proves that they are capable of pulling of such a deal.

I too am concerned about the big cash burn and think that corporate overheads are too high (i.e. management salaries) although I don't fear that the cash burn will bankrupt the company. And as long as they don't bankrupt, they will eventually become cash positive from their oil fields, then UCG commercialisation and coal divestment will be big bonuses whenever they do happen.

I'm not trying to ramp this just because I'm long on it. There are a lot of criticisms on LNC in this forum at the moment and I don't disagree with many of them. However, I feel that focus is being lost on the current and potential value of this company.

Let's hope there is a good quarterly and perhaps a good announcement soon. It certainly has been a while.