LCK 6.06% 17.5¢ leigh creek energy limited

LCK Price, page-278

  1. 3,006 Posts.
    lightbulb Created with Sketch. 1072
    Took them a while to solve some down hole problems when they first tried to light-up the coal.

    I can't remember the exact sequence but...
    Initially they were held-up by a last minute court action to stop the PCD trial; it got thrown out of court but LCK still had to down tools until the matter was heard.
    Second, the air feed hole collapsed and needed to be re-drilled and cleaned out.
    Third, they broke a drill string section in the roof of the chamber when drilling a test hole which gave them grief trying to seal it up to prevent water getting in to the chamber.
    And then it took them a while to get the coal to burn properly.
    All fairly normal teething problems but it pushed the time frame out.

    In hindsight, they should have set a less ambitious program; sheet does happen with resource projects.

    IMO
    DYOR

 
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