Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I can't find anything about a Liberum roadshow for the 7-11 Nov 2022 - other than the post by tidehunter-o_o, who when questioned as to where he got the info says "not sure why its not online. I read it on Bloomberg. Perhaps only shared with certain designated recipients, which is usually the case."
thetriplestar if you really think there is a chance this whole project is a fraud sell your shares.
6p is better than nothing.
If I ever thought that my investment was in the hands of criminals (fraud is a crime) I would run for the hills.
Accusing someone, falsely, of fraud also gets lawyers interested due to libel, slander and defamation.
Billions only if you are talking in Kenya shillings, see article below.
KENYA WINS SH2.6B BREACH OF CONTRACT CASE FILED IN UK
Written on 17 June 2019.
The Government has scored a victory after a London-based International Arbitration Tribunal dismissed a Sh2.6 billion claim by a British energy firm.
UK's Cluff Geothermal Company and its local partner had moved to London Court or International Arbitration (LCIA), accusing Kenya’s Geothermal Development Company (GDC) of breach of contract.
In 2013, GDC entered into a contract for provision of drilling services for 20 geothermal wells at its Menengai geothermal field for US$41,219,208 (about Sh4.2 billion).
However Cluff Geothermal and its local partner, Great Rift Drilling, stopped work on March 2015 and declared a dispute, accusing GDC of outstanding invoices.
By the time the case was referred to the tribunal on August 13, 2017, GDC had paid US$11,857,038.50 (about Sh1.9 billion).
On June 3, the LCIA ruled that GDC will pay the claimants the sum of US$2,259,680 (about Sh226 million) in respect of invoices issued for work done and a further US$593,497.33 (about Sh60 million) as interest.
This makes the total award Sh286 million, saving the tax payer more than Sh2.3 billion.
However, the amount due is likely to go up should Kenya delay in making the payments after the tribunal awarded a daily interest rate of about Sh46,000.
Thanks for the link BurtonD.
It's as if Sarah Lowther had been reading this BB. All her questions were concerns that had been raised here, sometimes nearly word for word.
Good to hear that David Minchin is promising to keep investors updated of news, on a more regular basis.
I am concerned that he is still saying January or February for drilling as this is the rainy season and as I understand it the rain can make the ground shift and swell making for a more difficult drill. Is this correct or does the rainy season not make too much difference? I know that some people have posted on here that the drill date will get kicked down the road but we don't know the window for the (near at hand) Baker and Hughes equipment and team.
I have listened to David Minchin's interview and I must admit that this sentence he keeps on banding about of "looking after investors money as if it was my own" is becoming tiresome.
Using a drill, that was not up to the job, costs money. The drill was unsuccessful and another drill needed to be sourced.
He promised us that a drill would happen this year, it hasn't.
Time is money.
I continue to hold, but my patience is running thin with how this is being managed.
We need to be updated on developments on a regular basis. If there should be further delays then it would be time for David Minchin to fall on his sword and Ian Stalker to get his phone book out.
There is Helium, the geology shows there are traps we just need a team to drill a hole in the ground and test to see if the Helium is in commercially viable quantities.
They have had their licences renewed without issue, since 2015.
The last annual report stated that the licence renewals would be a formality.
The next lot of licences are due for renewal on 17.9.22 and then another batch on the 25.10.22.
I am sure Helium One will inform us once this has happened.
Below from Helium One's 2022 Annual Results.
The group has applied for but not yet received formal renewal letters confirming the renewal of three licences in Tanzania. The group is confident that these licences are renewed, on the basis that the renewals are shown as having been renewed on the Government's Mining Cadastre portal and do not consider it necessary to impair the related exploration assets totalling $2,072,245.
In total 14 out of 18 licences will expire be due for renewal during September and October 2022. Based on their prior experience, the directors do not foresee any issue in renewing these licences in due course.
Below taken from Helium One's website.
Helium One permits were initially granted in 2015, 2016 and 2017 as Prospecting Licences for helium, classified as an Industrial Mineral under Tanzanian legislation. Prospecting Licences were renewed with the Ministry of Mines during 2020. Licences are valid for three years and can be renewed for a further two-year period.
The exploration permits are located near surface seeps, with helium concentrations ranging between 2.5% and 10.6% by volume. The presence of surface seeps led the company to explore and identify ideal geological conditions for subsurface helium accumulations.