Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Art123, that rig has been used to drill 400m holes in a day..
Our biggest worry is that Muscles has inside info ;)
Its looking that way
It does feel like a bit of nervous race against time now, but one which is still achievable, albeit with little room for further delay . At least the Rig is no longer the issue, it seems. Rainy season starts in October to November, so they have to really start drilling by no later than mid Sept, as leaving it much later than this runs the risk of hitting the rains?
I'd say its a 50/50, maybe 60/40 in favour of this year.
If they can't get everything sorted in time, would it then be June next year?
Art123, Drilling wont take months.
Looks like rig wont arrive October at best,
@DD13
We dont no if the audit was completed and a list of recommendation are being implemented or if the audit was unable to be completed because of failures ? RNS mentions both completion and recommencing?
If the later, next RNS could read the same...
"Working with preferred" statement sounds weak, not certain ..
It might be a lot quicker - Tai-2 was spud on 19th August 2021 and completed (albeit rather mysteriously) on 26th August. The whole drill only took 7 days - but then it didn't really achieve very much.
With this rig it will be 2 weeks to depth + 1 week tests
It’s not really good news though is it, Its no real news at all. A lot of Loose ends still to be tied and if one part frays the whole drilling campaign is kaput for this year. They have no wiggle room at all and if I was to place a bet now unfortunately it would go on no drill, That said fully hope I’m completely incorrect which is often the case and they do hit the targets in more ways than one this year.
ART123 - I think a single drill might be quicker than 2 months this time. I seem to remember reading this larger drill would be quicker to depth. Hopefully that’s right.
Nothing like seeing the derampers coming out the woodwork over my morning coffee to know it was a good RNS
@art your waffling now. Rig audit to be finalised in two weeks. Of that all goes well 1 month later approx drilling can commence. It’s going to be around a 3 week campaign start to finish and the rainy season does not commence normally until December mid-late if at all like last year.
Of course the flaw in that theory is that it’s already been drilled
As I predictid last week, news within the first 10 days of August. This is excellent news and is just the start of positive news flow fom the company.
Please ignore the deramping of this company, sadly this will multiply with further good news not far away.
Onwards and upwards.
HE1 themselves give the rainy season as starting in November - from RNS dated 26th August 2021 "...before the commencement of seasonal rains in November."
So if they won't get a rig contract signed before September and it is going to take at least a month to get the rig to Tanzania and drilling will take up to 2 months - which is what it took for Tai-1 to reach TD - and the rainy season starts in November then it is looking increasingly unlikely that HE1 will get this drill done this year.
Why was that RNS hard work,
"Completion of the audit was delayed"
"Final audit activities expected to re-commence mid-August"
No mention of pipe skate?
No mention of BOP and Koomey?
Failed then, take two August..
Working with "preferred" that kind of sounds like they may need another option, bit like Febs MOU
What happened to clear english
Given the way we have been given news just lately the next RNS MUST give us everything we have been waiting for - concrete dates & plans - anything less would be unforgivable! That’s why I think we will not hear anything until September
Yes, when the final 20% is passed fit it will be brought to market promptly. It won’t taken long. Rig contracted end of the month should be realistic and on the move to rukwa sept.
Plasterer 1
It says auditors are coming back mid august ! Do you expect news straight away ?
Much to do about nothing that update - Seems they probably released it to calm some nerves but in all honesty has probably led to more questions. Going to the wire (No pun intended) for a drill this year you would think - They will certainly need a fair wind, Worst comes to worst back in the drawer till 23.
No updates till at least September? Why ?
Read that RNS again
It says mid august !!
Can’t see us getting any more updates until at least September now !
Perhaps a Dave & Katie interview will bring more positivity?
Yes, to be honest, this "marvellous update" says absolutely nothing. And it certainly opens the door to further delays and very slow progress. The truth is they might quite simply miss the drill window this year altogether. Not to worry though as Noble Helium have a 2 well drill planned for next year so they can wait for them.
The only safe thing to say here is that drilling will be confirmed at a later date depending on a number of factors and then we will all know exactly when this will happen.
Last year the rig was already In Tanzania, which incidentally is in East Africa.
Last year the rig was mobilised on 29th April and spud was on 14th June - so it took more than six weeks and that drill rig was already in country - whereas this current rig is not.
I love it when the derampers crawl from under their rocks when we get a massively positive RNS
Things are progressing well. We all should be hugely reassured by this RNS. What a beautiful rig she is!
you betcha it'll be red.....6p coming folks
@art wait to see how nobles drill goes first?!? Thank F your not the ceo!