Member Info for ART123

Tediously slow progress. That is only 318 metres in a month, which is only just over 10 metres per day. 'Variable ground conditions' does not sound good, nor does having to change the rig (I thought they were using a new rig!). Sounds like a 50/50 chance they will reach the target horizon or else be firced to stop short due to the ground conditions. Very disappointing but somewhat typical of Patrick Cheetham.

There hadn't been a date given for the Competent Persons Report (CPR) previously in the Monthly Progress Reports as far as I can see. Now it is scheduled for August/September 2024, which probably means it won't be out much before mid-to-late September.

That looks like a good investment - $250k in cash and shares for a resource with an in-situ value of >$250 million at helium price of $550/Mcf.

Also (unlike some other Helium explorers) the shares in issue have only increased from 122,240,000 to 123,350,000.

I see that this has come back down. I presumed it was going to be a case of 'sell on news' - the main news being the Exploration Target rather than the live presentations - and that's why I sold at 12p.

With the 2 big drill plans for H2 2024 (12,000M R/C and 2000M D) and H1 2015 (24,000M R/C) extra funding will be required plus there won't be much to look forward to except more of the same drill results for the next twelve months.

Plus having sold (for now) gets me away from all this posting nonsense from Dustyslay. Maybe some of you should try it as it works brilliantly.

The Storuman decision was from 2019. The last update was from early September 2023. Months and years pass by with this company like days and weeks for most other companies.

There was a drilling start update on 16th April 2024 and one further update on 21st May 2024. So since drilling started there has been one update.

And you can stick your dodgy Twitter updates up you know where. The market will always be better without them thank you. Dodgy, dodgy, dodgy nonsense.

No one here posting is going to make any difference to the share price. If the drill is a success and Kobold find the copper they are hoping is there then the share price will go up. If the drill reaches TD without a copper discovery then the share price will go down. It's as simple as that.

Kobold as a private company is not obliged to bring out any updates. However, they have farmed into Tertiary's licence and Tertiary is a listed company and as such TYM is obliged to keep shareholders up-to-date with progress and Kobold should respect this and keep the Tertiary management updated so they can then pass the relevant info on to the market. I do not consider that one update in nearly 2 months of drilling is overdoing the newsflow. If anything it is quite poor.

And, by the way, this board is for chat about Tertiary Minerals. It is not restricted to shareholders and anyone can post their opinion.

Yeah, Patrick Cheetham has been spinning this out for 20 years now at the helm of this company and all for absolutely nothing. What's another month or two? Good luck with your gambling because that is all you are doing.

Still nothing from Kobold. Unfortunately in this type of drilling, no news is usually bad news. They will need to hit a fairly long length of high-grade ore for it to be anything worth bothering about so the longer it goes without news of hitting anything the less likely it looks.

AJMHO

EXT - 50% of which is Mr Karam - made such idiots of themselves going ahead with that PUT option and then announcing a 'premium priced placing' which it turns out they couldn't even complete.

I feel sorry for all those who were suckered in here with that near 100% bounce over the last week or two.

£500k won't go far, especially as £180K of that was part of the previous placing. It certainly won't fund much of an acquisition. Maybe the company is nearer administration as posters were saying recently than I thought as I was assuming that Karam and EXT would keep coughing up but they have defaulted on doing that already.

"Further to the announcement of an equity placing on 15 April 2024 (the "Placing") and the announcements of 13 May 2024 and 7 June 2024, Extraction Srl, a subscriber to Tranche II of the Placing, and a third-party subscriber to Tranche I (together the "Subscribers") were unable to meet their obligations to provide the funds in the specified timeframe, as a result, the Directors of the Company deemed it necessary to complete the fundraise announced today. Therefore, the 180,000,000 Ordinary Shares and 180,000,000 warrants which were due to be issued to the Subscribers in the Placing will no longer be issued."

So EXT defaulted on the earlier placing at the premium price. That doesn't happen very often.

The placing in March 2023 was at 2.25p. Then the next one in September 2023 at 4p. Sensibly the placing in January 2024 should have been at about 6p. Unfortunately, Mr Bunn got a bit carried away with the excitement of his 'Giant' Titanium discovery and got it off at 11p, only for the share price to fall for month after month hitting a low of 6.6p at the end of March.

EEE also appears to have a lot of staff on the books and these highly-qualified employees do not come cheap. Apart from the 5 directors on Page 15 of the presentation, there are a further 7 listed on the next page as the Technical Leadership team.

Oh and of course they have £3.5M of funds available as of the beginning of June but then they had cash available the last time they did a placing as they like to keep funded ahead of the immediate spend requirement especially while this is a high spend period. Alongside the drilling there is a lot of design and engineering work, surveys, testing and studies in progress, all of which will eat up the funds.

Well according to today's brand new presentation the Resource in-fill drilling - Stage 1 planned for H2 2024 with 2000M of Diamond Core and 12,000M of Reverse Circulation and Stage 2 planned for H1 2025 with 24,000M of RC - is still going to happen.

This will obviously need funding as this year's H2 drilling is twice the amount drilled in H1 and next year's will be 4 times the previous amount. As the previous 6000 M drilling required £3M funding then the amount required will be more in proportion. No wonder Shaun Bunn is on the funding campaign in the UK especially after the Saudi Strategic Investor Led Placing to Raise £3 million went a bit belly-up as share price quickly dipped below the 11p placing price and has been below ever since with a low of 6.5p. There is only so long that investors will put up with these over-priced placings that are putting their investments under so much water.

Question: "How are you going to fund the project?"

Dave Minchin's answer: "Well that's incredibly easy due to the high free cash flow of $40M per annum for an initial capex of $20M" and adding that it will be without any dilution to shareholders.

We should count ourselves lucky here - on this board that is. 'news' has only posted 39 times here over the last 30 days. The poor old regulars on the RRR board have suffered 416 of his very lengthy, arguably informative but immensely boring posts during the same 30 days.

I am hoping that HEX will get a US cross-trading facility arranged. Minchin previously sorted one out for HE1 and that was up and running long before the spud of their first well despite there being not much connection between the US and Tanzania. Here, with the Helium prospect in the US, this should be a no-brainer.

From the HE1 notification on 29th April 2021:

"The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world's largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies. Independent studies show that trading on the OTC by an international company offers a positive effect on the liquidity of its shares."

For goodness sake why is everyone so rude and ratty on this board? This company has a m/cap of £2M and does nothing very fast and I certainly don't spend my time following the story here 24/7. And I am certainly not claiming to be an expert - although other posters here would certainly appear to consider themselves so.

Instead of squabbling over whether either company want the licence with POW maybe it is time to farm-out Kilmore as RRR can't afford to even dream of doing any drilling themselves. The partner doesn't have to be Southern Cross, though maybe even they could be persuaded to chuck a million or two into drilling a few exploratory drills to see if the gold continues into RRR's lease.