Just had a chat with John Parker. Very upfront and polite guy...

Just had a chat with John Parker. Very upfront and polite guy and more than happy to go into a bit of detail, so thanks John!

To summarise:

1) The $5.7M purchase is essentially contingent on 3rd party negotiations with Chinese steel mills etc hence Lincoln will not be going to market via a cap raise etc. So no need to fear dilution.

2) A non-binding agreement is currently in place and has been so for around 1 month with a Chinese entity, however John did not sound confident it would come to fruitition and may well lapse.

3) Earlier this week, John provided an Eyre Peninsula tour to a Chinese entity. Will have to see how this moves.

4) It's interesting to note that some of the negotiations that haven't come to pass were going to be at a farily hefty premium to the current sp. i.e. the entities involved were prepared to pay a substantial amount to obtain access to the offtake. Why it didn't eventuate, i don't know.

5) as per half yearly update, if finance isn't in place by the April 30th deadline, MEA can choose to continue their involvement OR their holding will be progressively acquired. See ann for details.

Hope that helps a few here and i'm happy to hold based on potential. I hold quite a few CFE and have just seen first-hand how hot the Chinese involvement is with our resources market at the moment.