George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Getech, a world-leading locator of subsurface resources, is pleased to announce it has won a new contract with East Star Resources, a London-listed company focused on copper exploration, to locate porphyry copper deposits in Kazakhstan. The project is backed by the BHP Xplor 2024 accelerator programme and is the first time Getech’s Globe geoscience platform will be used to locate porphyry copper.
Getech, a world-leading locator of subsurface resources, is pleased to announce it has won a new contract with East Star Resources, a London-listed company focused on copper exploration, to locate porphyry copper deposits in Kazakhstan. The project is backed by the BHP Xplor 2024 accelerator programme and is the first time Getech’s Globe geoscience platform will be used to locate porphyry copper.
https://getech.com/news/getech-engaged-by-east-star-resources-to-locate-porphyry-copper-in-kazakhstan/
15 April 2024
Getech Group plc
("Getech" or the "Company")
Announcement of Joint Natural Hydrogen Exploration Agreement
and Two Further Natural Hydrogen Exploration Contracts
Getech, a world-leading locator of subsurface resources, is pleased to announce three separate contract wins related to the exploration of natural hydrogen (also known as 'geologic' or 'white' hydrogen). The first is a strategic joint venture exploration agreement with a new customer partner, while two additional contracts have been secured with existing exploration clients.
All three contracts are aimed at locating natural hydrogen resources for commercial development and demonstrate that the Company is at the forefront of this exciting new subsurface energy transition opportunity. Combined, the three transactions are expected to generate £390k of revenue over 3 years, with additional potential upside.
The joint exploration agreement is with a major European headquartered global industrial and energy company and aims to locate and develop economic natural hydrogen accumulations. In addition to earning fees for its exploration services, under the terms of the contract agreement, Getech will also earn 5% equity interest in any licenses obtained within a designated area and will be 'carried' through the exploration phase, including field sampling, exploration drilling and well-testing.
Over the course of the multi-year programme, Getech will apply its proprietary and industry-leading natural hydrogen location solution. This begins with understanding and modelling the geologic conditions known to produce natural hydrogen. Getech is uniquely placed to do this using its exclusive global geological and geophysical dataset which it has compiled over 30 years and used successfully for decades in other natural resource sectors. Getech will then deploy proprietary machine learning algorithms to find 'digital signature' matches in its data to predict the location of new natural hydrogen accumulations. Once natural hydrogen source rocks have been identified, Getech will use extensive experience gained from the oil and gas industry to predict the migration and trapping of hydrogen through the earth to identify subsurface reservoirs where hydrogen may have accumulated. This will be followed by verifying or 'ground truthing' these results in the field. The new customer partner will then take the lead in subsequent exploration drilling and development activities.
The two additional contracts are with existing exploration clients to screen for natural hydrogen and hydrogen storage projects in Eastern Europe and the USA. The projects will again use Getech's Globe geoscience platform, geophysical data and AI technology to locate areas with the geologic conditions to produce natural hydrogen.
Richard Bennett, CEO of Getech, commented:
"These transactions build on a good start to the current financial year and of course, further expand our expertise in he
Getech, a London-listed tech company, is collating data from across Britain and has pinpointed potential hydrogen-bearing rocks in parts of the British Isles too. The deposits lie in a belt across Scotland stretching roughly from Greenock in the west to Aberdeen on the north east coast. There are others on Shetland, the Lizard peninsula in Cornwall and near Omagh in Northern Ireland.
Surely this will create some interest
https://www.telegraph.co.uk/business/2024/03/31/british-company-hunts-white-hydrogen-cornwall-scotland/
Another partnership, this time with American stock exchange listed Expro
https://getech.com/news/getech-and-expro-partner-to-advance-sustainable-energy-solutions/
1.9 million net cash forecast for this year in the new broker note is really good news.
Last year it looked like they may have to raise cash, but that looks unnecessary now .
With AI progress, if this was listed on Wall Street as a technology stock (which is what it should be rather than in the oil and gas sector) then its valuation would be much higher.
It’s a shame the UK stock market is so depressed at the moment but at some point investors will realise just what we have here.
Richard Bennett should go on a charm offensive in America!
The new CEO Richard Bennett is really turning this round, he’s doing a great job. Cash flow positive this year was his stated aim & we are on course.
Once the market realises the potential of AI this will fly.
What a marvellous update !
New contracts of nearly 1 million
Cash flow positive for this year on track
And the bit that could really transform the companies valuation, advances in AI
Excellent start to the year !
I like this bit…wonder who the multinational technology corporation is ? Oracle, Microsoft..??
The collaboration is already pursuing its first project, showcasing the joint capabilities to a multinational technology corporation. This initiative underscores the partnership’s commitment to business impact.
I really like this way forward, to take stakes in future projects and build a valuable portfolio of assets. As most on here will know, if they find a resource, it would be a very lucrative investment.
Shame the stock market is so in-interested. They are missing a trick here.
Could there be a gold rush for buried hydrogen ?
https://www.bbc.co.uk/news/business-67541581
AI will be huge.
It has already outgunned weather models, predicting the precise depth & location of hurricanes 3 days ahead of standard meteorological methods.
Imagine how valuable it would be to Getech if, using their existing data, AI could more accurately locate mineral deposits, saving explorers a fortune?
We may be closer than you think.