Member Info for dai2belts

8p, I thought was cheap too, but gone, so 7p really cheap surprise.. well at least until any lock-ins release,, But there should be opportunities for seeds to sell higher, I hope

I just hope the game hasn't changed lol

I was thinking Zeph could time nicely with QED's raise which hopefully will have a discount that offers opportunity. Sometime Q1 AEX may also hit its seasonal low, and maybe it will double again this year as they are still waiting

102 trading days since listing, you would think any seed investor that could off-load would have done so by now...

Makes you wonder who was trading those 500k lots and if they were buys near bid price?

But I guess they could be 8p buyers stop losses triggering

Mmmmmmm, another large on the mid ?

20-Dec-24 10:30:43 7.2074 27,529 Buy* 6.50 7.50 1,984 O buy

20-Dec-24 10:28:06 7.00 283,635 Buy* 6.50 7.50 19.85k O ++++++ ?

20-Dec-24 10:27:50 7.155 100,000 Buy* 6.50 7.50 7,155 O buy

Gambler said today has offered the lowest price to buy thanks to extreme weather and delayed docs , downside maybe 6p, upside should be IPOs 12.5p

no raise is due

the company is there to do drill, , and its a drilling country so the permit should come

It should at least bounce

But they did give a figure of US$ 9,836,000..for EWT related costs

Assuming they had $1,447,723 in the bank before fund raise..

so £364k left over, and add the 5% contingency $408k incase they did not use it..

Gives estimated $2,251,723 June cash in the bank

=========================================

Itumbula West-1 Extended Well Test US$'000s

=====================

Rig Equipment and Drilling Costs 2,490

Drilling Services 2,560

========================

Engineering 110

Wireline Services 150

Well Testing Services 1,140

Wellsite Supervision 510

Camp 490

Civils 110

Safety 290

Community 310

Sub total

8,160

Contingency @ 5% 408

WHT @ 15% 1,051 VAT 217

Total

US$ 9,8360..

· At 30 June 2024, the Group's cash position was US$11,647,723

That probably includes the $10.2m for EWT.....

So could say they had $1,447,723 in the bank before fund raise...

Unfortunately the latest accounts won't include EWT costs...

Not sure about going backwards unless their documentation required further input.. but that is not the end of the world..

So a 50 days to complete drilling operation, starting with a small rig before the big one..... maybe a pause between the two where could see a pump unless there is an issue at the well.. IPO price 12.5p..now 7p Mmmm

Does'nt help its getting TWs attention and his trolls...

Nobody on the BB has mentioned all the docs were supposed to have been submitted by 12th, which shows the rampers are keeping quiet and the trolls are not really keeping up, just posting whatever

I suspected they would not drill December time too, and that Dec touts drilling before the 1st lock-in period ends ??

Really I should be hoovering up these cheap shares as technically its just a delay, but why are they doing paper work for the permit when they said all docs would be submitted by the 12th...

And there were two 500k trades...now the bid Ask changed on the second 500k, so was it a sell as its on the mid, its one of those you don't know if it was an institutions trade at the best price either way..

20-Dec-24 09:18:52 6.725 11,370 Sell* 6.50 7.50 764.63 O

20-Dec-24 09:13:23 7.20 13,654 Buy* 6.50 7.50 983.09 O

20-Dec-24 09:05:11 7.20 13,654 Buy* 6.50 7.50 983.09 O

20-Dec-24 09:03:08 7.00 500,000 Buy* 6.50 7.50 35.00k O +++++++++

20-Dec-24 09:01:32 7.01 30,000 Sell* 7.00 7.50 2,103 O

20-Dec-24 08:58:05 7.05 500,000 Sell* 7.00 7.50 35.25k O +++++++++

Colorado thats where He1 are, but 1% sounds like Hex area ?

Acquisition of a 49% direct interest in 119,000 acres of upstream licenses in Colorado and Utah with 18.2 Bcf of natural gas (with up to 1% helium), 2.79 mmbbls of oil and condensates and 2.34 mmboe of natural gas liquids of independently certified (APN Energy Consultants LLC Competent Person Report dated 1 April 2024) Proved Recoverable Reserves (1P), which include PDP, PDNP and PUD Reserves. The NPV10 of these 1P reserves is estimated in the CPR at in excess of US$80 million;

Raise at 5p, while it was below 2p ??

The Company is finally also pleased to announce it has raised new proceeds of US$475,949 through the issue of 7,520,000 ordinary shares at a price of 5 pence per new share, representing a 203% premium to the closing mid price of 1.65 pence as reported on the day before announcement, with warrants attached as further detailed below alongside a broker option to enable other investors to participate on the same terms.

Also paying in shares at 5p

The Company has acquired this position for a total consideration of US$2.0 million which is to be satisfied via payment of US$1.75 million in new Ascent shares issued at 5 pence per new share as well as US$0.25million in cash.

And

Furthermore, the Company is pleased to announce its intention to undertake a second distribution to qualifying stakeholders with entitlements to 41% of the net proceeds to be potentially received by the Company in its significant Energy Charter Treaty damages claim against the Republic of Slovenia.

Lairs or some of the supporting docs needed further work, either way people were expecting the permits approval anytime...

Re-injection....

They mention drilling 25-30 wells, if re-injecting so water continues its journey l guess you may need two, one extracting and the other returning....so a water loop.. who knows might be talking utter garbage..

Oilers often re-inject water back into old wells...

The timing of Colorado raises suspicion, and also the lack of planned 2025 Rukwa activities.. but then again they have no money, so planning a drill will highlight the likely timing of a raise ... And the fooookers are always out smarting the PI

Liars

Dec 2nd Drilling Permit

All relevant reports will be lodged with DEMIRS within the next 10 days

Today, weather stops work on supporting drilling permit docs....

all required reports for the Hussar permit application have been submitted, with the exception of the Environmental Impact Report and Heritage Monitoring report,

==================================

Dec 2 nd

The Company's representatives conducted a site visit to Hussar EP513, commencing on 18 November 2024. The primary objective of the site visit was to complete Heritage Monitoring, a flora and fauna survey as part of an Environmental Impact Study and civil engineering site inspections of access roads and the airstrip.

The reports following the preliminary site visit will be submitted to the regulators, DEMIRS, in support of the Company's drilling approval application. All relevant reports will be lodged with DEMIRS within the next 10 days. The reports are in addition to revised seismic mapping from reprocessed seismic data which will also be submitted to DEMIRS as part of the drilling approval process to re-enter Hussar.

Today....

Drilling Permit Status:

· Further to our RNS of 2 December, all required reports for the Hussar permit application have been submitted, with the exception of the Environmental Impact Report and Heritage Monitoring report, which have been delayed due to the adverse weather conditions and restricted site access.

· DEMIRS (Department of Energy, Mines, Industry Regulation & Safety) is scheduled to re-open on 3 January 2025. The mandated processing time for permit applications is 15 days, although permits are usually granted within 10 days. The Company remains confident that a drilling approval will be secured shortly after DEMIRS returns on 3 January 2025.

=============

I noticed they are considering irrigating the fields now, previous it was bottled water is this to distract ?

I would have thought they would need to re-inject the water so it continues as normal, filtering through rocks to the surface or staying under ground... What If the water is from deep down where the radioactive decay occurs, if from higher up is it part of the water table....

https://www.quantamagazine.org/radioactivity-may-fuel-life-deep-underground-and-inside-other-worlds-20210524/

I did'nt pick up on that,

I don't see why the TZ Gov would want to keep the DFS figures from investors ? The sooner it is out there the sooner investors can be attracted, and the sooner Tanz be the Saudi of Helium lol..

Other thing, there has been no updates to say the environmental report has been approved, have we not had RNS updates in the past saying so before drilling ?

Not around...

So the scene is set ....

1. Resolution 5 & 6 revoked

2,No raise for the next 12 months

3, No raise without notice and vote at the EGM

But 12 months is probably from June, and a cash box deals with 1 & 3..\

1 & 3, that card has been played before, and it caught many out, but worth a try as not many of the original LTH are around,...

At the AGM I believe they said the $8.2m raised for Blue Star was ring fenced....So forget that for Rukwa and running the company.....

Never to be trusted...

Now we have all experienced them quoting Junes cash in the bank, months later after lots of spending....

Well it looks like they are doing the same for that 12 months runway, it actual starts from 14 June 2024 not Decembers AGM

"Following the completion of the proposed Fundraise, the Company will be fully funded to complete the EWT, with a working capital runway for a minimum of 12 months from the date of Admission."

So they need to raise maybe late April/May time, so you have to ask why the person in the audience asked if they needed to raise in the next 3 months, which I thought was an unusual, to specify 3 months or up to April.. Staged question maybe ?

At the AGM they commented on the companies strategy to raise only for near term spending and what's required..If true they don't have much spare for any surprises

EWT Use of proceeds

___________________

The net proceeds of the fundraise will be utilised to complete the EWT and additional drilling at Itumbula West-1, as well as providing additional funds for operational contingency. The budgeted cost of the operation is US$10.2 million which includes a 5% contingency.

Following the completion of the proposed Fundraise, the Company will be fully funded to complete the EWT, with a working capital runway for a minimum of 12 months from the date of Admission.

.......................................