My take is that this is a pretty good announcement. Some posters are taking the mickey and suggesting it was announced before but if you compare it to the 3rd Dec announcement it differs in that the original announcement was for 172,000 acres paid entirely by LNC shares (i.e. $50mil at $4.03) whereas this announcement is 92,059 acres at US$5mil. It is immediately apparent that this is a much better deal for Linc shareholders than the original announcement. The amount of coal in today's deal is more than enough to keep Linc going for many years and is probably more than in needed and I would suggest the rest of the is not required. IMO that it is an important step to be in the US market and have access to US capital and it should be noted that the Dec 3 ann was a LoI - this is a completed deal and I think a very good one.
P
LNC Price at posting:
$2.04 Sentiment: Buy Disclosure: Held
