RE: Operation report7 Feb 2022 08:57
IG report 2.17% down on ASX but net buys exceeded sells as canbe seen here from very few trades.
https://drive.google.com/file/d/16bqXrsEqYVDYFAJ4WeZb_pf9d0bQWuR2/view?usp=sharing
Imho, not a announcement that is more than that, I feel it is a very positive RNS leaving room for all possible routes forward. #3 and #4 back to pre-covid levels of dewatering, improved gas flows , and SM not that much behind schedule on their side of our Hydrogen partnership. The delay into next year for buzzing electricity up to Serowe gives us a chance to fulfil our commitments to the partnership, i.e. flared gas redirected for SM use, and generators installed and/or solar panels depending how SM progress!
"Schedule-
Date
Detail
1Q22
TL & SS - Mobilisation of plant & equipment, site establishment, procurement and engineering
2Q22
H2 - Hydrogen & Solid Carbon Protype unit to be completed
TL & SS - Commence installation of electricity poles
Gas-to-power - Ground works on Central Processing Facility
3Q22
H2 - Hydrogen & Solid Carbon Prototype to arrive at Lesedi
SS - Civil works, steel structures assembly, installation, and earthing
Solar - Purchase and installation of Solar PV
4Q22
SS -Electrical and mechanical works
TL - Stringing, tension, and regulation
Gas-to-power - Purchase of power generators
H2 - Initial results from the Hydrogen & Solid Carbon Prototype
1H23
TL & SS - Practical completion
TL & SS - Testing and commissioning
2H23
TL & SS - Handover to Tlou
Gas-to-power - Sale of first electricity to BPC"
Irrespective of the success/failure from SM I think we can forget about finding the cash for options - June 12th looks unlikely to make the prices suitable. I wonder if TLOU have the power to retain the options at a different date, but it is TLOU's loss rather than ours. We can seemingly buy below 4p to our heart's content for quite a while!
The change that is most likely, imho again, is the H2 Solar panels? IF the gas is sufficient to support CBM power and Hydrogen tests , we may not need Solar at that stage? Unless GREEN hydrogen is essential to our plans??
The Hydrogen possibilty has delayed us by up to a year , but most of that year is also attributable to Covid so it is still a phenominally cheap entry into the Hydrogen business for both partners! And nothing rules out Crypto supplies if that goes anywhere! It is only at the talking stage , I don't understand the hostility it arouses.
The Crypto business has sfa to do with us - it is merely a potential outlet for our gas that won't have to be delivered to Orapa IF anything comes from it. Orapa and Crypto's are not part of our plans - they are pie in the sky imho! But that could change in the next decade!