Linc Energy, it seems are busy at trying to window dress their asset profile, for example they bought the Blair Athol coal mine off Rio Tinto for a dollar even though the mines resources have almost been used up. It only has no more than two years left at about a few million tons per anum. Rio sucked up most of the remainder in 2009 before the mine closed. Perhaps they want to time it so they can squeeze some cash flow to boost their earnings profile at a critical moment, but it’s definitely not a long term decision, sounds more like desperation to me.
LNC Price at posting:
$1.36 Sentiment: None Disclosure: Not Held