Thank you Pie, you raise some good points. I am going to ramble...

Thank you Pie, you raise some good points. I am going to ramble on a bit now. I certainly have not given up on this stock. I am waiting for an announcement which I feel will generate some significant interest, and I will be back in at any price. As another poster indicated, this asset will be developed at some time. I hope we will be part of it. You mention the PFS, its cash flows and funding. I have had a very brief look at it, and will analyse it to the best of my ability shortly. What did strike me as interesting was the preferred option in the Basis of the Pre-Feasibility Study.

• The Pre-Feasibility study (PFS) examined the technical and financial feasibility of developing
Leigh Creek Energy’s ISG project to provide syngas as a fuel/building block for:
• Power generation (large and small scale)
• Domestic synthetic natural gas
• Methanol
• Fertiliser/urea
• Hydrogen

For some reason they appear to want to add value to the base product - syngas. They have studied all options and have opted for, what appears to be, the expensive one, urea, rejecting the less ambitious options of straight gas production or value added power generation, both of which I think, would have been cheaper and easier to stage and develop. With CCS, I think power generation would have a ready market and attract less opposition. (but having not seen their analyses of all options, this is an unsubstantiated opinion only).

The Disclaimer and Cautionary Statement should be read carefully. The Urea approach appears to strongly tick a lot of the "Risk" boxes, more than I would like. We will have to keep a close I on cash flow.

I have not analysed the First 10 Years of Cash Flows, but would expect that they assume the ideal situation free of risk. Their assumptions regarding funding will severely test their marketing abilities.

Having this very ambitious target, I hope that their managerial abilities match their entrepreneurial ambitions. They have LCK's future in their hands.

For the moment, I leave you with a sobering thought. "There is anecdotal evidence that entrepreneurs learn by their mistakes, and fail 40% of the time." J L.