Jimmy, it is yes - what your not grasping I don't think is your reference to ii's, a bond is a debt note, that has to be repaid, plus interest. They are planning on raising by taking on some debt anyway
Has anyone considered that the RI could be deferred? For example, return to lending with 35 million already accounted for. Cash raised from bonds etc circa 200 million before may 23, just like bond recently paid back. RI at 19/1 deferred for 2 years at a discounted price to whatever the RI is at that point in time. A bit like director performance based options.
So right issued now, with a date in the future where you have to exercise them - say you can have 19 to 1 at 4.5p in may 2025, which will dilute yes, however the SP at that point could be 80p or more - the extra 15 million for redress comes out of that pot, along with enough funds to settle the bond debt.
In line with speculation on the rig being purchased that has been sat idle for a few years, I have emailed the owner 3 times so far enquiring as a prospective purchaser over the last few weeks. Still had no response, so read into that what you will.
RE: Looks odds on a discovery this year for Helium One say @TMSreach01 Jun 2022 07:33
He says the company has proof of concept of a working helium system, but untested there’s even more unanswered questions which are leading into the 2022 campaign.
“We’ve only scratched the tip of the iceberg, and that’s why we’re going back to Tai. We see Tai as the key to unlocking an entire helium province.”
Tai is the prospect at the flagship Rukwa Basin, and Minchin and his team are pulling out all the stops to return there, and doing so in a cost effective way. A 100 ton mast weighting drill is booked and being assessed.
If it passes the audit and gets to the project, it can drill an eight and half inch hole to two and a half thousand metres “no worries at all.” Minchin describes the drill as well overspecced for what the company wants to achieve which is a depth of about 1300 metres. Drilling in each hole should take less than three weeks, which Minchin says is plenty of lead time before the rainy season in December.
A discovery will expedite the admin with existing licenses transferred into mining licenses, and although Minchin views the company as a discoverer “We’re perfectly capable of taking this into production ourselves.”
And as David explains to Sarah Lowther the more the company does, the more it can discover in what is a very exciting time for Helium One.