Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Automatic renewal, the company applies for renewals or so they say...
But I believe they have a right to renew if conditions are met.
Final renewals for most prospecting licences, so final 2 years..
To be fair DM was asked about the licence renewals, obviously this years drills, especially Tai were the targets of that question, but he chose to talk about mining licences in general..
Reading the annual results its seems the licencing body is not the quickest confirming a renewal either
The conditions for the automatic renewal of the licences have been fully met. To renew the licences a certain amount of money invested is required, the two drills and other work far exceeds this. This has been posted before, hopefully this repost will allow for a couple of days of respite from this doom and gloom.
On the Frankie Fraser Madometer I'm Mad as a Lorry at 8p
Make that third, not second
@HELX2: Precisely your second post. Anything else was folly... ;)
*** - I think you are referring to the prospector Edward Doheny. Daniel Plainview is a fictional character based very loosely on the life of Doheny.
Maybe when they finished the scans they go over the results and come up with a drill plan of likely Helium targets to explore and discover in. Thats the geo team - so since around April/May they surely would have concluded this.
The drill man and Minch only have to source the right drill and financing, funding etc and manage relationships with shareholders and other stakeholders in the country. Based on it being nearly a year since the last stuff up - and apart from investor presentations on the 121 Mining roadshow what has come from that and what on earth have they actually been doing all this time over the last year with regards to getting the basics right for Q3 drill programme? Its not rocket science here to organise this and manage the project successfully considering all elements. Given their target now to drill around end Q3 and Q4, I suspect we wont hear anything about drill and associated info until end July and then August is transportation and site set up with drilling in September. Then in Q4 a declaration of commercially discovered HELIUM and thats done - becomes a proof of entire RUKWA concept, shares will BOOM and on and upwards from there I suppose towards a production type of business along with constant drilling in other sites within the area to expand resource. So with a bit of patience, as much as its been tested, ultimately, my impression is they will get there.
In 1898, Daniel Plainview finds silver while prospecting in New Mexico but breaks his leg. Dragging himself from the pit, he takes a sample to an assay office and receives a silver and gold claim. In 1902, he discovers oil near Los Angeles and establishes a drilling company. Following the death of a worker in an accident, Daniel adopts the man's orphaned son. The boy, H.W., becomes his nominal business partner, allowing Daniel to present himself to potential investors as a family man.
there is always a rough road to huge successes. Not easy for retail investors but they will get there.
"Hello, have you got a drilling rig ? Ok, bye."
A couple of them had Fly Fishing by JR Hartley though.
Though...T
"what have these people been doing all this time? "
This though has crossed my mind a few hundred times lately.
"Hello, have you got a drilling rig ? Ok, bye."
"Hello, have you got a drilling rig ? Ok, bye."
"Hello, have you got a drilling rig ? Ok, bye."
"Hello, have you got a drilling rig ? Ok, bye."
"Hello, have you got a drilling rig ? Ok, bye."
"Hello, have you got a drilling rig ? Ok, bye."
"Hello, have you got a drilling rig ? Ok, bye."
there is a decent team onboard too for quite some time, are they working full time? What would they be doing now given the main thing going on right now is the drill audit program, then to site, then drill (using other people), - given that we havent had any news on any results from scanning the ground late last year /early this, what have these people been doing all this time? I suspect that once the drill audit successfully concluded and announced to market, we will also hear about these results of scanning etc - so much I hope will become a lot clearer for us investors.
selling at low price is good. wouldnt mind picking up some cheap shares :)
Blimey ... the level of worry and panic amongst some people here is insane ... chill out and wait ... they will still be drilling this Autumn and the actual drill process with this larger rig will be much much quicker than last year ... or just sell at a crazy low price ...
Smarter still would have been to sell just before results were announced. ;-D
I think it was smart to sell immediately after the results last year - wait for it to come right back to a base level & go again for 2022. Holding on was not the right call.
I think that anyone who hung around last year when so many sold up in panic has earnt the right to be concerned. Thanks for your posts AP.
lol you're consumed by fear AP - your post is filled with such unnecessary drama. A reminder:
Most recent operational update dated 24 May 2022: Drilling Services - "The Company is in detailed discussions with both a rig operator and service companies with the objective of drilling the Tai prospect in Q3/Q4 2022, before the commencement of the rainy season.
The Company has contacted an international drilling rig survey and inspection company to undertake a detailed audit of the proposed rig and its ancillary equipment on location in East Africa. Further details, including the scope of the drilling program, will be provided once the audit is complete and the contract has been signed."
The drill is happening earliest Q3 / Q4 - an update will be provided when the contract is signed - note, the heads of terms are already likely to be agreed, engrossment of a contract can take a little longer. Either way, the Q3 period only starts tomorrow & this update was received only circa 6 weeks ago. Suddenly you seem to think because you haven't heard anything it's game over for 2022...
Re cash they had circa $10m in the bank at the start of the year. Admin expenses aren't comparatively high at this company ($1.8m Jul-Dec 21). The main expense will be on a rig + team for drilling. So if further to your opinion that they won't get a drill underway this year - this money would just roll over to 2023. Not sure what your issue is with cash?
Licencing won't be an issue at all. The country needs it, Helium One are doing it & will be on site at the time you are not intimating licences are up lol.
Literally creating a fuss about nothing. Re-read the operational update to calm your nerves.
We were told about a rig inspection on the texas rig a few months back, then silence for weeks
Next update was this east africa rig inspection. 6 weeks has elapsed now. No drill contract signed.
Even if minor repairs were necessary. The suitability and condition of the rig would now be established.
Licenses due in 2 months time
Share price in the 7-8p range.
Potentially 9 months to wait if we can't drill til next year and it will be necessary to raise capital to do so then.
Ive got a feeling we are screwed.
Back to the IPO price because in 2 years we have shot some seismic and drilled 1 hole with an unsuitable rig for £15 million
I wouldnt be surprised if our licenses werent revoked by the Tanzanian government.
Why on earth didnt they release the seismic results and share price catalysts as promised, raised a further £15 million at 15p or so and paid the right money to get a meaninful 2-3 hole program with a reputable drill company such as Exalo.
Instead we have been scrap yard hunting trying to piece it all together.
The ONE ****ing thing they messed up last year was drill choice and here we are in July nearly none the wiser, teetering on the edge of project failure for making the same mistake twice.
Im sorry but those saying just relax, have patience etc obviously havnt held a significant holding since last year and been through it all.
I feel Helium one have neglected their shareholders this year and if the drill doesnt come off then I definitely call for a shake-up of the board, sad thing is it will probably be too late