The headlines reveal the latest installment of the funny money controversial startup Marathon Resources which morphed to Leigh Creek Energy ( LCK on the Aussie Market) – a sideshow of vested ALP and Liberal interests running amock on the stock exchange and creating a distraction from the main show SANTOS, down the road.
Will LCK raise $8 Billion for a project that has failed the legislative and the community test and is also based on false economics, easily seen at a glance when looking at the history of its development. Mt Gee, also was never going to be a uranium mine just as Leigh Creek Coalfields will never be a coal seam gas plant producing urea and no doubt horse shit.
Simple answer: NO. Marathon and LCK are not about production, they are about money and distraction.
A Party-led Cowboy sharemarket operation no doubts at the great expense of the public and serving a second interest of taking curious eyes away from the monster expansion of China owned SANTOS in the Cooper Basin. An energy play of fracking proportions and one that has not featured prominently in the news otherwise obsessed with the fractured state of China and Australia relations.
Here is the latest update which enabled shareholders to skim 10 cents off the shares in the space of a week, inside players are making some good pin money as well.
The issue of a Petroleum Production License (PPL) without an Environment Impact Statement or public consultation regarding the latest plan appearing out of thin air and no doubt again will serve as a handy channel for more Chinese Investment, redeemable via the ongoing losses of the Leigh Creek Energy Company.