Member Info for Blubay

i think you’re probably doing the board a disservice by imagining they haven’t rehe****d all these arguments realistically. it’s basically the same board that brought tanzania’s offshore songo gas field from exploration to market (under orca). masses of experience of commercialisation in east africa.

I’m familiar with the presentations thank you.

Why don’t you look at the terms agreed on similar JVs in other countries, e.g. with Air Liquide. You might be surprised

If you are being offered NT then change your broker, there are billions of shares and plenty available to trade

Don’t be silly, of course there are quotes to buy. Why do people post this nonsense every day.

I think you’re over extrapolating. If the market thought Rukwa was uncommercial the share price would be near zero. It’s at the last placing price, which suggests caution and uncertainty rather than negativity. Value is the same now as it was pre-EWT results. That’s likely because the results aren’t categorical on their own without the rest of the analysis.

It’s not entirely clear from the RNS but that appears to be the maximum amount of fluid (water carrying gas) they estimate could flow from one well (ITW1) in one day (or maybe just from the basement level of that well?). From that they hope to extract around 0.6Mscf of helium, minus the assumed cost of retrieval, processing and transportation. The feasibility study, complex reservoir modelling, and economic modelling will provide more detail.

No it isn’t, not before they have a mining licence

I don't see any restriction on those, other than the usual limits on what directors can do during insider news periods, probably confusing with the other options 6p+

Sorry, yes that was just recently in June 2024 - LB was granted 55 million share options at 1p, vested over two years in three equal tranches - June 2024, June 2025, and June 2026

"Now I'm not a chemist"

I think you've made that clear

I think LB had 5 million options at 6.25p (February 2023) and 8 million options at 6.6p (September 2023) each vested in equal tranches over 3 years (in 2024, 2025 and 2026)?

Indeed, average attention span of a goldfish here! Of course they will raise again in the next 12 months (and probably in the next 6 months to plan ahead) but they are very unlikely to raise in the near term and they will probably be in a completely different stage of development as a company when they do, with production wells drilled in Colorado, and a mining licence for their commercial discovery in Tanzania, and possibly even a major financing deal. If you never invested in an AIM company because they 'might raise in the next 12 months' you would never invest anything. The whole point of listing on AIM is to raise capital from the market. What you do with it is what matters.

Is this a joke? Who on earth would put all their investment into an early stage AIM exploration share?

You're misunderstanding Rifleman - they refer there to the capital needed to carry out the EWT not the working capital component. They raised enough for the EWT (with a small contingency) and for 12 months working capital. We now know there were no technical snags or delays in the EWT, so we can guess they have used minimal contingency for that.

"The use of such peculiar terminology ; `Capital Runway` , is unnecessary and suggestive of obfuscation ."

What? Capital runway is really basic business talk, universally understood to mean they are clear to go forward with sufficient working capital for 12 months

"There will be a requirement at some stage for further financing, as we move into development, but we certainly won't be able to conclude on that until we have that mining licence granted by the government"

https://youtu.be/s7T5h4qi28c?feature=shared&t=460

Date of admission of shares was 14 June, but yes

Anyone who doesn't know what a cash/capital runway means probably shouldn't be investing

It means they were fully funded for basic working capital for a period of 12 months from July this year until at least June next year, unless they have unexpectedly high costs for some other reason