Dr Len Walker use to work for Linc Energy but was asked to leave by one of the Major share holders. Although he was good at the theoretical side of UCG, he was unable to commercialise it. Academics do not always make good Managing Directors of companies. CXY has got a long way to go. CXY haven't even completed their trial burn yet (due to start in May next year).
LNC completed their trial burn in 2002. LNC was a private comany that formed in 1996. LNC listed last year when they could not get funding from the bank to progress the demonstration plant. Once the demonstration plant is commissioned, the project will be de-risked considerably and bank loans for the production facility should not be a problem.
LNC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
