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With respect, that makes no sense. We’re in the middle of a fully funded drill campaign, with promising data so far and new drills now in progress. First drill proves the working helium system but only partial wire logging and inconclusive on free flow potential. The underlying prospect has not changed and, if anything, is improved. Time and cash are limited short term but nothing is ‘kicked into the long grass’ until the rainy season. Efforts more likely to intensify now on the basis of what has been learned.

This drill campaign is funded, Tai is the first drill, their working with one of the best drilling companies in the world, using higher spec kit than was originally planned, and at the driller’s own risk/expense (payment in shares). It’s prospective drilling. These things happen, we have another shot with more knowledge gained.

Really, everyone needs to get over themselves. You chose to invest in a high risk wildcat drilling venture (albeit derisked as well as any can be). Everyone knows that’s going to be maybe a 4:1 or 5:1 bet per drill. You chose to stay in past the pre-news share peak, which matched the original NAV estimate (28p). If you did then you’re probably invested for the full campaign and understand the value of what’s been found so far. DW was very careful with the balance of risk and optimism throughout. No-one has been misled and there’s no grounds to blame the company for personal investment choices. The outlook remains optimistic.

The ticker on this page does not show 'buys and sells', it shows trade prices above and below the mid price (it just labels them that way indicatively).

At the risk of pedantry ARB was at 148p then

Loaning fiat (or securing facility to loan) against BTC hodl is a no-brainer if you trust in the rise in BTC price over the term of loan. It would have been nuts to sell BTC at $40k to pay bills or invest if you believed it was going to $80k within 6 months. That is of course a matter of trust in the underlying asset but then none of us would be here if we didn't believe in the idea of BTC mining as a core part of the business at this phase of company development. All the other miners are hodling in the same way so it's completely normal for the sector. ARB also has a very low debt ratio for a company of this size and growth figures, at this early stage of development, which really wouldn't be much concern for investors in any other sector with this type of market growth potential. I agree that retail markets are always a bit nervous about dilution and I've no doubt some are holding back to see what the IPO is and what effect it has (if any). On the other hand, the smart money from institutional investors is piling up buys every week at this price and they're usually the winners.

There seems to be some disagreement between those who think a NASDAQ listing is going fly the SP and those who think the IPO will crash it. The US tech retail market is absolutely huge and we don't even scratch the surface of it on OTC. I'd be amazed if the potential cash inflow from an IPO on NASDAQ didn't pay for the $100m debt facility many times over (with or without new plans, but I would expect clarity and ambition over new plans). There's huge demand for miners in that market, as long as the business fundamentals and the messaging are right, at the right moment, and if the entry price is comparatively attractive.

@QuantumStar - with respect, you're wrong, it has not failed. The first drill of this campaign is promising and shows that there is a significant and working helium system at Rukwa, and there is a good seal at Tai. It suggests that shallow strata helium shows are not free flowing gas but is, as yet, inconclusive about the more promising traps identified in harder rock at lower levels. It's frustrating but promising. Certainly not 'a failure'. To imply that would just be de-ramping.

I see the shorters are out in force on the Twitter feed too

I think DM has been very good throughout and have no complaints really. It would have been helpful to know when they moved from drill to wire logging, and that they were encountering some washout difficulties etc, but overall the ‘no news without confirmation’ approach was correct. The long wait was a sufficient signal for the cautiously minded.

In general, the basics don’t change. There is a working helium system with a strong seal. There is a higher chance of free gas traps in the harder lower level strata. Can we get there with additional knowledge and remedial technology, very probably. Can we do that in the timeline/cash line available to us. Hopefully so.

I’m still in.

I guess we'll have to wait and see what the market response is the NASDAQ ADR then we can come back and discuss it. As far as I can see so far, the bigger fish are gobbling up shares on the cheap now because they assume it's going to fly. Does anyone really think NASDAQ dual listing will crash the SP further?

To be honest dilution in the US market is exactly what this share needs to make it fly. It barely touches the American tech market because the of the limitations of tiny volumes on the OTC listing. NASDAQ is different ballgame, the volume is there if the placing can be targeted and timed well. There's also the debt facility held against future BTC price, which on current figures will be quickly dwarfed (ARB also has a very low debt ratio currently for a company at this stage of development). I'm not at all worried.

I see Panderman is shorting the same shares that Matt 'lost' his alleged millions on.

@Panderman - "160 acres for 46 million, hardly a bargain chaps"

Luck it wasn't $46m then isn't it? Does $5m sound better? (roughly £3.6m)... for 160 acres... with industrial planning permission secured, permits and geo surveys?

It usually starts in the run up to US open and intensifies towards UK close etc

Which anonymous troll would you serve the papers on?

What 'Twitter antics'? What have I missed? Why is DM's 'reputation at stake'?

Please tell me the shorters haven't moved in here too?

I think some of us did complain about Elon's blatant market manipulation at the time

Great first post, welcome to the FUD team!

I think Sitepad is just a website building app (like Wordpress) they've simply used the template and left the default links to the developers, probably no relation to Boatman although there is one small item in the 'report' that begs a question or coincidence (the mobile CAD screenshot graphic used in the Word document).

Boatman filed with SEC as a financial advisor using a loft apartment address in California.

Nick, with all due respect, the 'report' was clearly fabricated and the $1m short position on OTC is co-ordinated with it.