You are new to UCG so I will clue you in. UCG is very capital intensive, less so than actually mining coal but don't be fooled into thinking that it is cheap. Look at MEE, they have announced that they need $87 million for their Bloodwood Creek project just to produce Syngas, $20 million is needed just for the trial. LNC has the advantage that most of that was in place at Chinchilla before the IPO. However, the costs are still significant.
Poyndexter,
“They are spending some of the just raised capital for "nitrogen rejection equipment to improve gas quality".
I dont know if the need for such equipment was always necessary”
Without it they will have trouble with Nitrous Oxides – bad for the environment.
LNC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
