Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
“U can bet that spreadex will sell as soon as it gets to anywhere near rate pre placing/news…”
It’s not Spreadex buying directly, as with other brokers it’s their retail clients placing bets. The fact that it’s a significant volime is something to be aware of if you’re holding.
https://www.spreadex.com/financials/markets/shares/
"HOW HARD CAN IT BE TO DRILL FIR OIL ONSHORE ?"
It's a high risk reward business, same story in every O&G exploration company on AIM. I give you a few million in the hope of a maybe 1 in 4 or 5 chance that you get lucky first time, then you come back to fund the other 3-4 attempts. Every drill company on AIM is like this, unless they get lucky. They only list on AIM because they can't secure finance anywhere else, that's what AIM is for.
As everyone knows by now, the difficult part is that they appear to have two different helium assets to disaggregate. They appear to have some trap reservoirs beneath the lake bed, which may or may not be in solution, and they appear to have a deep hydrothermal carrier system from basement. In order to assess the total recoverable gas from the well they have to model these two things separately and produce a combined model. My guess is that the reservoirs don't amount to huge discovery and present similar limitations to those found by NHE in similar strata, so they are hoping to pin more on understanding and exploiting the generative basement system (by drilling deeper or side tracking the fractured basement at Tai, and/or exploring more at Itumbula). She alludes to these options as next steps in the interview.
It has to be correct and it has to not dump the share price. Shareholder expectations here have been unrealistically high, so there's a high risk of disappointed reaction to an underwhelming RNS, with people clamouring for announcements of major JV partners etc. That really isn't likely without further development work, including wider field testing/drilling, for which funds will be needed. The recent raise provided interim funds to plan that development work but not to carry out it out. They will need to present a detailed asset valuation report, with a convincing plan for commercialisation, to boost the share price and provide a sound basis for raising the money to implement it.
The Masika long rains will be just getting going through to May time, might not be very wet at all where they are but if you did want to move heavy stuff around on dirt then now would be a good time to get that done, until June or thereabouts.
Because it will raise as many questions as it answers and I imagine they want to get their ducks in a row and not trash the share price before working out a financing plan for development
Joe - I was asking about your comment on measurement after circulation. The RNS says “this consistent helium gas measurement was repeated during hole opening operations”. So not under circulation then but in open hole?
Joe - it also says the following things, could you interpret?
“Two subsequent well tests were carried out across the fault zone and yielded similar results from the downhole samples”
“As the helium rises through the well bore, the pressure decreases, and it is thought that the helium then comes out of solution and increases in concentration.”
“The well produced a continuous measurement of helium gas across the micro-GC and this consistent helium gas measurement was repeated during hole opening operations in preparation for running casing.”
Https://www.tradingview.com/script/N0fXWOv7-Market-Cap-simple/