Sceptic in me has to question the last 1-2 weeks of positive news and the timing (yearend) .
So far 2013-Jun14 saw:
1. Move to SGX and major shareholder coming on board - SP slightly higher than last day on ASX & disclosures less than on ASX.
2. Coal asset approvals obtained but sale pending in low cycle point
3. Umiat progress slow with one well completed and further evaluation required.
4. Total oil output from operations not increasing as expected.
5. Cashflow / Revenue streams not increasing as hoped eg. Adani royalty, oil .
6. Sourcing motivated UCG partners & developing capability has been slow to date.
7. Sourcing interested partners for Ark not successful requiring go alone approach for time being.
(just to mention a few)
Not a lot of warm and fuzzy progress information to report at next AGM if left at that. Would also highlight cash balance and cashflow decreasing. Why not push through a few positive announcements to keep the faith & support going as recent positive announcements will need funding from somewhere......
I guess with years of over promising easy to take this view . I hope these activities progress & begin to bear fruit. GLTA
LNC Price at posting:
99.5¢ Sentiment: None Disclosure: Held