LNC - Sale of Linc Energy's Emerald "Teresa" Coal Exploration Permits - Mr Peter Bond, CEO
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INTERVIEW WITH PETER BOND, MANAGING DIRECTOR OF LINC ENERGY LTD (LNC)

“Sale of Linc Energy’s Emerald “Teresa” Coal Exploration Permits”

http://www.brr.com.au/event/51086

 

FRIDAY, SEPTEMBER 5, 2008, 3:30 PM

 

            BRR    Good afternoon and welcome to Boardroomradio.  Today, we’re speaking with Mr. Peter Bond, Managing Director of Linc Energy. Thanks very much for joining us today, Peter.

10        LNC     It’s my pleasure, Eddie and good day (inaudible) (00:00:11)

 

            BRR    A great day for Linc, we’ve seen an announcement come out with quite a significant sale there of your Coal Exploration Permit with a Chinese company going into agreement for AU$1.5 billion. Do you want to give us some details

15                    of this?

            LNC     Sure.  I mean, as per the ASX announcement, Linc Energy has come to terms with Xinwen Coal, which is a relatively large coal company out of China with our purchase of three coal areas that we hold up around Emeralds which we call “Teresa” close to an area there. The (inaudible) (00:00:48) has a

20                    target tonnage of something around 500 million tonnes and which about a-third of that will be cooking coal, that two-thirds steaming coal and the deal is strike on the large at one side. We have Fund Investment Review Board approval that would pay first tranche of AU$150 million and then every 30 days thereafter about a AU$150 million through the seventh payment where

25                    they will pay their fee to haul them out.  In that process there’s been a 30-day due diligence period and some further work that Linc has to do and some further work that Xinwen have to do, but all-in-all, I think, it’s a great result for Linc Energy and its shareholders and it’s a very good…taking coal deposit at potentially a very good coal resource and one that I think that sort of quality of

30                    coal will be very much in favour with…by the Chinese or other groups.  So, they just basically want it to fairly enough to twist their arms to move forward the way we have and you know I think it’s a good (inaudible) (00:01:57) for both groups.

 

35        BRR    Peter, what would you say is….you know, the impact for Linc with this obviously this significant sale and I guess, how would this impact Linc moving forward?

            LNC     Well, it’s, you know, a huge benefit for Linc Energy and shareholders.  It’s bringing on the list for LInc to drill this asset up and sell it and subsequently

40                    booking the profits with the aim that those profits will help underwrite the commercialisation of (inaudible) (00:02:24) commercial facility in Chinchilla and other areas they were looking at.  So actually, pull the deal off and move out, you know, significant step forward and gain a number that is basically more than what we’re looking at spending at on the entire commercialisation

45                    in Chinchilla line and booking at about 900 million there, so it’s a great outcome and basically underwrite and underpins the whole commercial future of what (inaudible) (00:02:52) is aiming to do. Of course, with the other significant opportunities we have on our plate through acquisition of Sapex in South Australia and the 61,000 square kilometres exploration area down there, you know, Linc has extremely brought future with, you know, a very good cashed up balance rates, so it’ll be a very strong company getting on with the job.

 

5          BRR    Peter, you’ve briefly touched on your Chinchilla project and in the ASX announcement, you’ve also noted just some good progress you’ve been having down there. Did you want to give us some update of how the plan is progressing?

            LNC     Yes, we’re basically been trying to finish the GTL demonstration.  Once

10                    finished, (inaudible) (00:03:30) third gas field there and that pump 3 field is progressing extremely well , we’re very happy with it and the demonstration plant…. the gas to liquid demonstration plant is complete.  They have now filled the (inaudible) (00:03:43)  reactors…. the FT reactors that  we turn the gas into liquids with catalyst and they have (inaudible) (00:03:49) which work

15                    to save, to reduce that and get ready to take gas but once they do then eventually only, you now, a few days away from starting to free gas, and then once you free gas, you know, you’re only days away from production of liquids.  So we’re very, very close to completion of that chapter as well, and that’s very exciting for the company because it’s been our main driver and

20                    main focus for the last couple of years and to get it to this stage it is looking just superb. You guys have done a wonderful job.  It is an outstanding asset and one that everybody in the company can be extremely proud off including our shareholders, of course.  In Australia we’re first and, which we’re a couple of weeks from production outcome, so we’re very happy with how that’s

25                    going.

 

            BRR    Just lastly, Peter, at the top of the interview, we’ve talked about how it’s been a great day for Linc Energy and another major milestone is in its conclusion into the SMP 200 list.  What does this mean for Linc Energy?

30        LNC     Look, you know, I think by reaching ASX 200 and be….you’re one of the top 200 companies in terms of market capitalisation and a few allied measurements in the country and to make that list, obviously, puts you on the right of our screens, and a lot more people and more people take notice of you, a lot more people with stocks take you seriously, and basically it’s a start

35                    to take a step up as a company.  So. you know, we’ve been….market capitalization wise, we’ve been about this size for awhile but we are growing and I think it just starts to put us on more right our screens and you know, it’s a nice kick in the back, so to speak.

 

40        BRR    Peter, congratulations on such a fantastic day with some positive news coming out there.  Thank you for your time and we certainly do look forward to speaking to you soon.

            LNC     Thank you, Eddie and thank you, Boardroomradio.  It’s a pleasure.

 

45        BRR    That was Mr. Peter Bond, Managing Director of Linc Energy.  If you have any questions about this broadcast or any other broadcast, please feel free to contact us on brr@brr.com.au.

 

                        I’m Eddie Saede and thank you for listening to Boardroomradio.

  

    INTERVIEW CONCLUDED

 

 

 

 

Contact brr@brr.com.au for more information

 

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