The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
The market cap is circa £245m. Cash balance is circa £50m currently. Another year of same performance and we should add another £35m which would take cash balance to £85m.
Cash would account for 1/3 of the market cap value with enterprise value of SLP circa £200m at the moment. £200m for a company that generates circa £35m in free cash flow and potentially more when we increase production.
I will start to build a bigger balance here in due course.
Interesting to see HE1 taking DM off interview duties. I think there is an acknowledgment from the board that PIs over analysed DM's words and phrases and DM was very extreme in emotion, whether that's delivering positive news or negative.
Good to let DM focus on drilling and geology and let an experienced head like Ian do the external talking.
I would rather he doesn’t do bullish Twitter updates about completing discovery work that TC James started years ago or gives out interviews where he is talking to customers about taking the gas to market.
He should focus only on drilling and announce results once they are in, no more comms in between.
If you filtered me, how comes you still see my posts? Genuinely want to know how if thats ok.
Can't remember saying "yippee" but do remember saying "get in quick" on a FOMO Friday thread as a joke.
The fake RNS was designed so you could tick up the price a bit, and I'm pretty sure someone purchased more shares based on your title alone, and they would've lost on that purchase so that's on your hands.
The 'spread the words, get everyone to buy' was a joke as we were going through a rough time as a community. I regularly say things lightheartedly but fool you if you can't tell the difference between a joke and a serious post.
Either way, just don't reply back to my posts please, you're obsessed man.
Thanks @inthevoid, no offence taken.
I appreciate most long term holders know the risks and rewards clearly. I think how DM was soo optimistic didn't sit right with me or Seahawk hence lost a bit of trust but good luck mate.
I hope we all make a profit, even small for me.
@NDN71, you were the chief ramper, constantly posting every 5 mins, posting fake RNS's and constantly speculating unrealistic scenarios. You also said you are going to filter me, yet here you are constantly replying on threads I created.
STALKER
@Bunsa and @Noob, yes i have lost trust in DM and yes I am waiting for the SP to rise so I can sell up and derisk before results announced.
I haven't changed my views, however I am happy with the current news development as it will mean I will recover my losses quicker than I thought.
I hope this clarifies my viewpoint now.
BP
I can sense some are getting excited again, discussing potential discovery price above £2 or multi bagging etc.
This is the type of ramping which took the price to 28p and then dropped by 60% in few days.
Lets take this slowly and not assume that the only way is up and failure is not on the cards.
Also remember we are drilling shallower depths in the lake bed and potentially sandstone areas and not the karoo. From my understanding the karoo had the largest reservoir play and not going for that area means the unrisked of Tai of 34p won't be fully realised, maybe 50% at best which gives me a price target of circa 35p (17p for Tai and rest for risked values) and hence not a multi bagger as such but will be a calming result to the market and derisks the basin further.
However we've had disappointment before, could happen again so be wary all, especially newbies. If anyone tells you otherwise, they are ramping....
BP
Most important aspect is that they are avoiding the Karoo area which means we will drill to a depth of 800-900m max and not 1,200m.
If they can report a positive discovery and wire line test the lakebed and maybe even the sandstone areas, that will give investors confidence that commercial helium with free gas is present in the basin.
Come on DM deliver the goods
This is great news. We are avoiding the karoo region which is good so hopefully a successful drill can be communicated to the market at last with a free gas discovery. That should de-risk the basin somewhat with commercial helium.
COME ONNNNN
Absolutely 50p was on the cards. Tai was unrisked 31p I think and we would have easily got to 50p. Check the valuation numbers H&P provided and this was not based on hope, based on facts had we hit commercial discovery.
Well I was expecting us to hit 50p this week given RNS was released on Wednesday. I thought we would go form 27p on RNS day to 38p (40% increase on Day 1), to 44p (15% increase day 2) followed by 50p in day 3/4 (15% on next 2 days).
Instead we've gone down circa 60% due to a badly worded RNS, bad luck on hole collapsing and bad sequence of RNS being released with too much info.
Ohh well, just need to see forward plan.
BP
Not heard from DM this week and whenever he gives an interview, he sounds defeated. I am not sure why however. Ok Tai has not gone as planned but you need to press ahead with the next 2 drills or have a clear strategy in mind and execute. No point sulking over Tai and keep using words like "unfortunately" in every interview.
DM needs to get back in the driving seat and steer the boat towards the right direction. No point abandoning the ship now. Come up with a clear plan, communicate it with facts only, don't get too excited and lets see how this pans out.
I want to see at least 1 more attempt at drilling this calendar year.
BP
Agreed Trek, I think we need to move on especially if he is worried about no gas show.
On another point, today has seen significant losses for some british companies (AVON, BOTB) and earlier in the week, Helium One.
Investors need to be mindful that we could see significant profit warnings over the coming months with supply issues, price hikes, inflation, driver and worker shortages etc etc.
Us PIs really need to be careful as yes we've lost 50% in HE1 but don't think that revenue generating companies are the safest bet right now. Lot will happen between now and the end of the year and the brave will be rewarded. If HE1 come up with a robust action plan and drill away from Tai later this year in shallower targets that avoids most of karoo, that could be the best course of action for all of us.
BP