Clean coal technology company Linc Energy Ltd
(ASX:LNC) says it has largely escaped damage to its Queensland operations.
Despite significant flooding across the state, Linc advises that it’s Chinchilla underground coal gasification and gas to liquids Demonstration Facility has avoided serious damage largely due to preventative measures taken by the company.
Linc says it constructed major equipment upon a built-up pad of roadbase to lift the majority of its Chinchilla operations up over 3 feet above the low lying grasslands.
Due to this action Linc says water across the site has now subsided and while the outlying areas are still water logged, the company affirms that it was able to avert any undesirable outcomes for the site.
In the 2010 financial year, Linc Energy booked a net loss of $16.26 million.
