The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Crusty, not used to these abbreviation, thanks
"Return on capital employed" pjmcgra
I expect we will have updates regarding interested parties, breakthroughs, obstacles, timelines, cash raises etc that can appear at any time!
Individuals assert that they have read all the RNS's and watched the interviews, yet they raise issues and inquire about details that were covered in those very RNS's and interviews. If one has truly read and seen that information, they would be fully aware of the planned actions for the upcoming months. Therefore, until each phase is completed, there is no new information to disseminate to investors.
Crusty , ROCE ?
Morning Peeps....
"The Company is currently advancing its subsurface modelling and updating its internal resource estimates in order to determine the best path towards the commercialisation of Itumbula."
All the best (next news IMO.........! :()
They need to reach and complete incremental milestones along the way to justify further expenditure and fund raising for the next stage of the development. For example no-one would fund an EWT of Itumbula if Itumbula had been another Tai3.... No-one will fund a production facility until they know there is something there to fund and provide them with an ROCE.
Thanks for the clarification Crusty. Though I wish they would expedite the timeline. Surely, they should have done this sooner.
Oh and excuse me, I forgot to add - In my opinion! ;0)
The cost of £50 -£100 million cost is the estimate of the cost of any future production facility - that is the purpose of bringing in JV and / or offtake partners - to part fund that facility. Something that the company themselves has said can only be progressed after the EWT has been completed; i.e. once they can confirm Itumbula as a commercial discovery.
In the shorter term they will have to raise funds for the EWT and a follow up appraisal well - which is likely to follow the completion of the basin modelling and revised resource estimates.
Thanks to you and Crusty for your reply. I didn't think it was dependent on the EWT but obviously I was incorrect.
The reason this is important is because in order to carry on further drilling operations or works the co will have to raise money, so will inevitably have to do another placing. If they want to even contemplate an actual processing facility your talking at minimum another £50m to £100m. The co is currently worth £42m. You can see where this is going. That in my opinion is why the sp is dropping and the longer the board wait the lower the sp will go.
Why have they not released another RNS - simply because they have nothing new to say that justifies the publishing and the cost of an RNS! RNS's are there for price sensitive news..... and there is none
Agree….. can’t see why another RNS is not being issued, just my opinion…..
The lab results cannot confirm a discovery because they cannot include stuff like flow rate. An independent lab could further confirm that samples contain helium and at what concentrations. So it's not that important today.
LB said they would sent the samples to an independent lab but it wasn't an immediate priority. Didn't confirm when. Explained that the Baker Hughes testing on sight was absolutely to be trusted.
So the best we could really hope for from an independent lab would be confirming what we already know. Reserve estimate end EWT required. All good but it's going to be about Q3.
They will need to complete the EWT before being able to confirm a discovery.
Thank you for your reply Skippy and to confirm I have viewed all of the RNS's of the co. That's the issue I'm having. The co is confident of a discovery and I think that they are right but they seem rather nonchalant about actually confirming it. Here's how I see it:
1. Send the results to the lab for independent confirmation of a discovery - 6 to 8 weeks it's confirmed and the SP will rise.
2. Complete 3D analysis - determine size and yield of Helium gas at the site and have it confirmed. Result the company instantly has an asset that could be worth hundreds of millions and therefore the sp can 4, 5, 6 times it current value.
I expect the BOD of HE1 know what is required before announcing a discovery.
There is plenty of information in the recent RNS's and interviews to cover your questions. The answer is we have to wait.
I'm a lth and I've seen this co go up and down and round and round. I've also viewed this board on a number of occasions and seen comments from people who are quite frankly delusional. However, before I go off and give my overall opinion here I want to ask everyone one simple question. Has HE1 sent the results of the drilling operation to the lab to confirm the discovery and when do they plan 3D analysis/scanning of the Itumbula site? I've seen nothing to confirm either and quite frankly there is no discovery without lab confirmation and 3D analysis. That's a fact, despite what Lorna or anyone at HE1 thinks. You need both to confirm and determine the potential yield/deposit of the Helium gas you can extract and it's overall value.