LCK 6.06% 17.5¢ leigh creek energy limited

LCK Price, page-686

  1. 3,006 Posts.
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    The environmental concerns have been thrashed to death on this forum over the last 2 years and through the courts.
    The South Australian Government are all over it and under the previous SA Labor Government approval for each stage of the project was given contingent on meeting stringent environmental standards.

    The project was delayed almost 12 months while umpteen environmental studies were undertaken at great cost to the company.

    This has been one of the most studied projects from an environmental perspective undertaken with experts having more degrees than a thermometer. Read the full details here...
    http://www.energymining.sa.gov.au/petroleum/projects/prj_leigh_creek_energy_isg#q=Leigh%20Creek%20Energy

    In one of the reports a direct comparison was made with the Linc Energy site citing the key differences in terms of geology, proximity to water tables and farmland and project parameters. The differences are huge. You also have to understand that Leigh Creek has been an operating coal mine for 50 years providing coal to Port Augusta Power Station - shut down by the previous Labor Government to ensure the viability of its Wind Turbine investment (which contributed to the infamous Statewide power blackout in September 2017

    LCK released in December 2018 an ASX announcement highlighting how the PCD had met all required environmental standards...
    https://hotcopper.com.au/threads/ann-environmental-monitoring-shows-exceptional-results.4574065/

    The project has been unsuccessfully challenged in court (October last year) by the NSW Environmental Defenders Office and the Adnyamathanha Traditional Lands Association...

    "Application made by ATLA was seeking judicial review of the decision by the Department for Energy and Mining to allow the Company to operate under an existing Statement of Environmental Objectives. The application also sought an injunction, which was dismissed and announced to the market on 19 September 2018.The Company is pleased that the injunction application and now the application for judicial review have both been dismissed and that both parties have agreed to bear their own costs."

    https://hotcopper.com.au/threads/ann-legal-proceedings-concluded.4494097/

    In short, the project is heavily regulated, heavily monitored, often challenged and every time it passes with flying colours.

    Don't worry about it.

    IMO
    DYOR
 
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