prefer to see some gtl fuel first, page-7

Capman hope you are right on this one. Cos this is real money we have on the line!

I was thinking this morning in the shower - if this deal works and we hit $6 sp then I will be shouting that PB is a genius.

But I notice that some directors were selling at $3; I'm a little bit worried, but expect it will be fairly neutral overall.

BTW I'm not at all convinced BHP will agree to use UCG for powering Olympic Dam. Would you bet on it, given you have $10 billion investment riding on the success of a power gen technology untested at that scale to power your mine? No one will agree to that. I think this is blue sky which is unlikely to materialise. More likely, is that BHP could use any diesel from UCG-CTL to power its trucks etc. That's a low risk strategy that BHP could agree to and one which gives Linc plenty of upside if they deliver - so a better strategy IMO.

But do you need to produce the diesel close to the source of use?? - I'm not so sure. The coals in Queensland are better for CTL than those low grade ones in SA IMO. Shipping costs are not that great compared to the margins likely to be generated.

Anyway look forwar to hearing the great PR from LINc and PB and hope the SP rides to $6!


cheers