Totally agree with you....if the court case is unsuccessful it is curtains for LKO.
Too little done far too late.....court proceedings should have been started way back in 2013 instead of burning cash through admin and corporate expenses. FFS.....close to 30 billion shares on issue and any assets outside of Victoria not worth a cracker.
The Greens Parnell here in SA is pushing for a total ban on fracking which will make the tenements in SA worthless if successful.
Forget Gina Reinhart coming to the rescue....she has not provided any financial support rather it has been Nicholas Mather that has been keeping the lights on at Lakes Oil....if it were not for his support LKO would have shut the doors a long time ago.
As for the current court proceedings what can we conclude....coming up to five months now for a decision based on a two day hearing. Way too much time...and ample opportunity for political interference. Just add another delay to the continued attempts to push LKO into insolvency as we have witnessed with previous capital raising attempts and stated by LKO management in previous reports.
If I were to lay odds on a decision I would say it will go against LKO and be announced either the Friday before the AFL Grand Final or the Friday before the Victorian election in November to prop up the Green vote for the ALP as it looks like they are going to need it. The Red Shirts saga may bring Andrews undone but I would not hold my breath if the Victorian Police are conducting it.
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