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View Full Version : Linc successfully raises $77.4m


Sparty
08-03-2009, 12:41 AM
Linc has raised 57.4 million through an institutional raising at 1.40 per share with another 20 million available to the shareholder register as at close of business 05.08.09 at 1.40 per share also.

Sparty
08-24-2009, 02:03 AM
Galilee (MDLa 372) Coal mineralisation exploration target upgraded to 5.0-5.5 billion tonnes* in accordance with the JORC Code

Linc Energy Limited (ASX: LNC) (OTCQX: LNCGY) is very pleased to report that initial results from its Galilee Basin tenement area have exceed expectations and provided the basis for a significant increase in the Company's coal mineralization exploration target from 3.0 * 3.4 billion tones to 5.0 * 5.5 billion tonnes* in accordance with the JORC Code. MDLa 372 covers an area of some 261 km

The initial drilling program for MDLa 372 commenced in early June and is now approximately two-thirds complete wih over 6,500 metres drilled to date. Drilling has confirmed that the Permian age coal seams in the tenement area are attaining cumulative thicknesses in excess of 35 metres within the central part of the tenement. Only slight thinning is in evidence to the north of this central area. Coal has been intersected at approximately 65 to 70 metres depth at the sub-crop implying a strip ratio of around 4 to 1 in the area targeted for open cut mine development.

Linc Energy has also received preliminary coal quality laboratory results for five of the core holes with raw ash results in the range 15-30 percent confirming that potentially high product coal yields at ash levels consistent with high quality thermal coal can be realised. Further washability studies are now underway to increase confidence in the expected product coal quality.

http://newsstore.smh.com.au/apps/previewDocument.ac?docID=GCA00980191LNC

If the sell this at a dollar a ton then they will have enough capital to build several UCG-GTL plants.....