As I see it now, LCK have done what was necessary to show that a...

As I see it now, LCK have done what was necessary to show that a good quality gas can be produced by UCG, obviously with enough done to reclassify the resource to a very large reserve. That appears to be sufficient to allow potential partners to negotiate deals so there is every chance that some partnership will be formed where the partner will likely be able to draw on their expertise with an expectation that they can develop a commercial operation (with commercial flow rates). I guess the price they offer may reflect the level of risk they may perceive as well as the perceived value of the asset. If any deal is done, considering the size of the resource and the current value per GJ of just 13-14c, I expect the deal will substantially re-rate the value of the asset higher. Perhaps not a ten bagger ($1.50/GJ) but perhaps we still see upside of multiples (maybe to 30, 40 or 50c/GJ?) with some of that upside possibly happening ahead of any deals. Still looks like a good risk reward proposition but without betting the house on it.