Homey, Glad we are both on the same side. I too, am a long termer from those early 20c days. Like your attitude to poke holes in a company and see what leaks out. Mind you, with a company as groundbreaking as Linc, you sure do have to have a fair bit of faith, in the boss. I like his style, he's a hungry little bugger. He wants to reward shareholders and of course he is the biggest, which just makes him more hungry for income. As he says, he will chase ANY source of cash, as it presents itself. So I see the game plan changing, for Linc to be initially only a UCG Co, then using their by products for cash streams. I believe that Linc are going to turn into a cash cow, what with EOR, mine sales and royalties plus electrical generation. Anyway I degress.
I have had a look [as you suggested] at the worlds second [to Argen] UCG power plant. Owned by Eskom, at the Majuba site in South Africa. From what I have read, they commenced power generation via UCG on the 28/10/11. Now here is the catch. It is CO FIRED with coal and it is anticipated that 30% of the plant fuel will be EVENTUALLY provided by UCG syngas !! Now I might be missing something here but at least Argen [and yes it is old tech.] from what I have read, don't 'co fire' with coal. Furthermore, I have never heard Linc state that they will be 'co firing'. If this be the case, then who is STILL leading the pack?
Back to you.
LNC Price at posting:
$2.53 Sentiment: LT Buy Disclosure: Held
