Leigh Creek Energy - Increased visibility on pre-commercial demo
Leigh Creek Energy’s pre-commercial demonstration (PCD) continues to show progress, with funding now in place from China New Energy (CNE) and major construction contracts awarded and fabrication underway. The third and final tranche of funding of A$12.5m is due to settle after a shareholder vote later this quarter while regulatory approvals remain on the critical path in order for LCK to meet a late 2017 first gas target. Our RENAV remains at $0.26/share post equity dilution. We continue to risk our valuation with a subjective 20% chance of commercial success – we expect to revise this risking on completion of the demonstration project.Leigh Creek Energy is engaged in the mineral exploration. Co. operates in the mining and exploration industry in Australia, focusing on its Leigh Creek Energy Project. As of June 30 2016, Co. held 100% interests in petroleum and mineral tenements located in Callabonna, Finniss Springs, Leigh Creek, Oakdale, and Roxby Downs.
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