Leigh Creek Energy (LCK)

Business description

Leigh Creek Energy has a certified PRMS gas resource of 2,964PJ (2C) at the Leigh Creek Energy Project in South Australia. Monetisation of this gas through ISG is expected to be de-risked by a demonstration programme in 2017.

Stock data

Market cap.A$43.7m
Last closeA$0.13
High / Low (52 weeks)A$0.2 / A$0.1
Stock market listingAU
Forecast net cash (A$m)10.7
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual(10.7143)19.04764.1667
Relative *(13.5217)15.4439(3.5472)

* % Relative to local index

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Company news

Leigh Creek Energy Ltd gets ready to raise

Fri, 22 Apr 2016 00:45:06 GMT

Leigh Creek Energy Ltd (ASX:LCK) Engages Grant Thornton for Expert's Report

Fri, 20 Oct 2017 06:22:30 GMT

New Leigh Creek power station announced for SA outback

Tue, 12 Apr 2016 00:45:00 GMT

Leigh Creek Energy gets ready to raise

Wed, 22 Mar 2017 21:19:52 GMT

What Investors Should Know About Leigh Creek Energy Limited's (ASX:LCK ...

Wed, 04 Oct 2017 07:18:45 GMT

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2015A 0.0 N/A (17.7) N/A N/A N/A
2016A 0.0 (5.4) (5.4) (2.0) N/A N/A
2017E 0.0 (3.0) (2.9) (0.7) N/A N/A
2018E 0.0 (3.0) (2.9) (0.7) N/A N/A

Last updated on 15/09/2017

Investment summary

Leigh Creek Energy (LCK) offers an option over the in-situ gasification (ISG) of an underground coal resource in South Australia (SA). Recent power blackouts in SA have highlighted the need for more baseload power generation capacity, while high electricity prices incentivise the monetisation of 2,964PJ of 2C ISG gas resource. On 31 March 2017, LCK announced that it had raised A$21.85m of new equity; net proceeds are to be used to fund the company’s pre-commercial ISG demonstration project. A new cornerstone investor has also been added to LCK’s shareholder register, China New Energy. Our RENAV of $0.26/share reflects this new source of funding.

Last updated on 03/10/2017

Industry outlook

South Australian power prices have been volatile due to concentrated generator ownership, coal plant closures, limited import capability and higher than national average dominance of renewables. South Australia was the hardest hit state when energy retailers increased pricing by up to 20% in June 2017.

Last updated on 03/10/2017

Key management

Phil Staveley, CEO
Mark Terry, CFO
Justin Haines, Chief operating officer
Justyn Peters, Executive chairman

Company address

PO Box 12
Rundle Mall
Adelaide
5000
Australia
+61 (8) 8132 9100
View website