Negative or positive announcement regarding sale of Teresa to follow the halt? I lean towards negative, because recent price action, and break below consolidation with volume, suggests possible info leakage. 'Course it might just have been technical weakness and nerves.
The bit about the finalisation of long term financing facilities could then be about an alternative way they have had up their sleeve for funding the commercial ucg/gtl plant.
Which way do you think it'll go?
Here's the trading halt announcement:
"Linc Energy Ltd - Request for Trading Halt
Linc Energy Ltd requests that the Australian Stock Exchange impose an immediate trading halt over its securities.
The trading halt is requested pending an announcement regarding an update on the status of the sale of Linc Energy's Emerald (Teresa) coal tenements and the finalisation of long term financing facilities.
Linc Energy requests that the trading halt remain until the earlier of the time of the announcement or the commencement of trading on Wednesday, 24 December 2008."
what do you speculate?
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