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It sounds as though there is so much enquiry that they decided to pass it all over to the professionals. I imagine it was taking too much of the companies resource to engage in the process any longer. Let's face it, circumstances have changed and it seems the Chinese negotiating party was not making any sensible progress. It's all good and no doubt we can expect some solid progress now.

 

Galilee seems to be chokka with coal and gas. LNC's drilling will reflect well on other companies with Galilee permits.

 

R/Di

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Linc Energy will duly discontinue its current exclusive negotiation with Chinese coal group Yanzhou Coal and related entities. Linc has decided that, though negotiations have been ongoing, the buyerÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s timetable to complete a purchase is no longer in the best interests of Linc Energy and its shareholders.

 

 

very tactfull way of saying - no sale to the chinese

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How could this be a positive. It is not that there is so much enquiry it is because they do not know how to negotiate. After all this time two companies have still not finalised the deal and now they are talking about concluding a deal by the end of the year. This is nver ending. To me (a holder) this is yet more bad news from a company that always promised so much.
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It's good news Kuri, because such a big deal, negotiating in a volatile environment with the Chinese is not something you would want to do without some input from specialist negotiators especially if they were mucking you about. I think Peter Bond has been very patient and honorable and is by now more than likely sick of the whole business of selling Emerald, especially if other bidders have entered the field. Peter will be wanting to attend to driving the construction of their commercial plant in South Australia. Not to mention Vietnam and shepherding their first steps to GTL in the US. There is only so much you can do yourself. I am more concerned that he takes care of his health. UBS can get on with selling non-core projects. It's all good as far as I am concerned.

R/Di

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Spot on diana. Was concerned about his health burning the candles at both ends when I attended an open day late last year in Chinchilla. Am pleased now that an external body can run the sale process and free up valuable managerial resources. The cost will be miniscule in the long term and hopefully reenergize the management and shareholders in a company that will transform the use of coal in the future and at the same time in a world of carbon credits attain a win win situation...cheers all for the future...jacsar
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I agree that it takes a lot of work to negotiate a $1 billion deal so why did they not call in the experts (when the market was booming) instead of doing it one year later and losing a lot of credibility in the process. It could have been handled a lot more professionaly and the SP would certainly be higher than the $1.50 it is today. Looking at the charts I think a lot of people are losing faith. I still hold on the outside chance it will be sorted and shoot the price up though.
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Hi All,

 

Well the SP didn't go in the direction I thought/hoped it would but it is a great time to buy for those who have any spare cash.

 

Following is the response to my email sent last week.

 

Regards,

 

G62

 

 

 

Good Afternoon Greg

 

Thank you for your email and I apologise for the delay in responding.... I have imbedded my responses below.

 

Regards

 

 

Is the Galilee Tenement for sale? Yes, as per your reference to the announcement on 21st April, we confirmed that Galilee tenement is available for sale.

 

If it is, why has exploration & appraisal drilling commenced? Exploration and appraisal drilling continues to prove up the asset and increase the sale price as per Peter BondÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s comment in announcement dated 12th June ie ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“It is our intention to continue our exploration work to further delineate the resource and maximise shareholder value until such time as the tenement is sold and this value realised.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

 

 

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