Dear Fellow LCK Shareholders and other potential shareholders,
Progress at LCK has been slow but steady. Like everyone, I'm a little disappointed that the slow buildup to gasification temperature in the panel was not flagged earlier by the company. It could have saved all from some panic selling and misleading information regarding the state of the flare. The good news is that the flare is continuous and is now approaching the steady-state gasification temperature of over 1000 degrees C.
I was thinking of the most recent announcement regarding CCCC and the HoA signed. Looking at the share price reaction one would have thought the company just blew up the head well. I recall when the company's management visited all potential investor groups to participate in a capital raising with virtually zero local success. Australian institutions want a sure thing, an investment totally derisked, and that explains their stunning investment performance over the last few years. I expect that in time, as LCK moves on and ahead, that these same institutions will be crying about the lack of stock availability, Chinese interests in Australian companies and their influence on the LCK Board. How lucky are we to have a large, experienced global player, with deep pockets and muscle, to support the company's future progress. No local investor would have done that now and as a matter of interest most relevant players have been approached and know exactly what LCK is about and its potential. Also, we tend to forget that the LCK operation is located in an area where there is established housing, electricity, water, communications, tarred roads, a railway line and an airport and we get all this for free. Any other location and we would have had to fund at least $50m in infrastructure.
The fundamentals continue to improve, risks operationally and financially are decreasing, steady state flaring is close and a gas upgrade possibly 2 months away. The company is taking its time to get to critical gasification but surely that is preferred to pushing the boundaries and delivering a terminal result - environmental issues and please close down.
I believe that at 15c the opportunity is massive and I will be accumulating. Anyone who wants to beat the price down I'm a happy buyer. Happy Christmas and a New Year to All.
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Last
0.5¢ |
Change
0.001(12.5%) |
Mkt cap ! $9.770M |
Open | High | Low | Value | Volume |
0.4¢ | 0.5¢ | 0.4¢ | $4.055K | 970K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 7355006 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 7247912 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 0.005 |
9 | 9255006 | 0.004 |
75 | 82694523 | 0.003 |
62 | 135322803 | 0.002 |
24 | 184650000 | 0.001 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 99999 | 1 |
0.005 | 7647912 | 7 |
0.006 | 3995604 | 5 |
0.007 | 2429689 | 4 |
0.008 | 137500 | 2 |
Last trade - 14.51pm 21/08/2024 (20 minute delay) ? |
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