LCK 0.00% 24.5¢ leigh creek energy limited

Hi Tui, Great question and one which I am not an expert to...

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    Hi Tui,
    Great question and one which I am not an expert to really provide advice on. However the difference between 2P and 1P is that 2P reserve status is a mixture of proven and probable while 1P reserve status is Proven. It was the view of MHA Petroleum Consultants that the results precluded the booking of 1P Proven Reserves due to the view that the data was not sufficiently robust to justify a booking of 1P reserves. I am not aware that LCK are going to progress down this line as they are wanting to get Offtake Agreements and JV partners now. although this carries more risk to potential partners it gives them scope to negotiate a better deal for themselves with this risk. Don't get me wrong though... 2P reserves and the data that came through was very very significant and looked really attractive to prospective partners. 2P will be enough to get them across the line however it does give LCK a little bit less negotiation power when asking for top dollar. Personally, I still think that we can walk away with a SP in $ long this takes is anyone's guess. This is not investment advice and need to make sure you dot your i's and cross your t's... happy to be corrected here lads and ladies. just my non-expert opinion.
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