Member Info for dai2belts

ML enables He1 to fully appraise, develop and subsequently monetise

https://youtu.be/fLaiIpoSo-Q?t=70

Other exploration I suggested would be for other mining licences, such as Mbuni and kasuku, which were the other sites originally planned in phase 1

Lol, like Muscles suggested, it all goes on mojitos...

They bought two cranes and well control equipment,,, recent photos show a shiny, new looking BOP, but I doubt any of those cost near $1m each...

And $2.5m for drilling services, when PRD raise $3m for the whole experience, pad, rig and well with wire-line, Africa too..

@Pubcrawl, She said the feasibility study will be based 20-30 development wells.. .But at the moment they have a single discovery producing 834scf/d, after preparing 4 sites, and drilling 3.

I doubt they can guarantee the next is producer until a few more wells map out the asset,

@Pubcrawl, I used to discuss both sides here, along with a few others posters , but was asked to discuss elsewhere, thats how that other group came about.. unlike telegram or private LSE chat anybody can read it.. Most of those that pushed those open to discussion away have long gone.. There are very few here who actually discuss anything other than the share price..

Anyway posting elsewhere saves me from trolling here, ;)

You don't see me shouting there is a raise coming or the share price is going sub 1p,

@Glib, just have to wait and see what unfolds..

DST results they were talking about exploiting the geothermal properties of the well, and hydrogen gas... Media was really pushing the hydrogen..

Once they complete the DFS more will come out, until then it's all speculation,

Nothing negative my post, but imagine discussing possible negatives here, its very one sided...

Lorna said 20-30 wells, do you think they are all going to be in Itumbula's licensed area, its possible but unlikely ?

So chances are there could be some elsewhere, that will require further mining licences.. So further exploration..

So the EWT results help with the application of Itumbula's ML, still leaving the possibility of requiring others.,.

So Itumbula's next well is likely to be an appraisal to define the boundary, and if a producer those in-between should have a higher success rate..

Remember that 138bcf was based on about 12, maybe 16 area's , not just Itumbula, so there still could be reservoir full of helium in Rukwa.. Itumbula is just the 2nd well. Noble have a trap and seal, so there must be more...

So 20-30 wells in the Region, sounds like further exploration drilling is required, and possibly multiple mining licences.

1 discovery in Itumbula so far, so more wells will be required to appraise the area, and maybe the need to prove the ESP modelling..

Early days yet..

He1 budgeted $5m to drill that extra 150m, Rig Equipment and Drilling Costs 2,490 Drilling Services 2,560..

Already owning the rig, with pad constructed, and only extending a lined well, they should break those costs down for clarity.. Always guessing , and such a huge cost since that 0.5mmcf/d turned out 0.0008mmcf/d....

Flowing fluid through a 36/64ths of an inch choke , thats ~13.78mm, approximate to the internal diameter of the copper pipe supplying your house hold tap...

They say the cost of the Tanz development wells will be cheaper, but a dev well is a producer, and both Tai and Itumbula were finished as production wells.. ? Would be nice if they defined cheaper

Photo with guy in mask ?

https://www.mindat.org/loc-109719.html

Lead poisoning

https://www.mindat.org/loc-216390.html

Only £8m, He1 can drill sfa with that

19.5p bid showing, nice recovery

@Deep, how much did they have ?

They drilled Clink to TD, so I guess the rig and crew completed their drilling contract.. So it is best to assume its now 3 drills, the costs of the 7" work over not declared ?

Mmmmmmmm,, He1 said they would be submitting the ML application in 2 weeks, then around 3 months to be granted, in June said the supporting ESIA would take 6 months ?

So could there be a raise before Christmas, while they wait ?

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.

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

June 10th

ESIA, Feasibility Study and Mining Licence application

The results from the EWT on Itumbula West-1, and subsequent integration of these into a subsurface model to determine resource estimates, will form a critical input into the ongoing Feasibility Study. This report, which is already being prepared by a growing subsurface team, will support the Company's application to have the existing Prospecting Licences at the southern Rukwa Project upgraded to Mining Licences.

The Company is working closely with the Tanzanian Government (Ministry of Mines and Mining Commission) with respect to the Mining Licence application process and is currently undertaking a number of workstreams in relation to this.

The ESIA study forms part of the ML application process and is required by the Mining Commission in Tanzania. As the ESIA study is required to take place over a six-month period to capture the wet and dry seasons, the Company has already commenced the work. Therefore, upon completion, the results can align with the EWT and will then allow the Company to complete the feasibility study ahead of submitting the ML conversion application.

The Company has appointed MTL Consulting Ltd ("MTL"), a Tanzanian company, for the ESIA and will continue to work with them to compile and deliver a detailed report to the National Environmental Management Council within the necessary timeframe. As well as the ESIA study, the Company will also undertake more detailed subsurface work and plans to establish contingent resource estimates which will form part of the Feasibility Study.

Ham and Pineapple, nice :)

You have me thinking now, are they delaying Rudyard ?

Mmmm. 19.2, gone through, so now almost £3k more to buy 100k from the low, in just a day or two,,

I wonder if there will be selling from about 20/21p

Looks like we missed a nice low..

Watched an interesting video, famous investor, only employed mathematicians, so based trading on patterns that could be explained through math... the fine tuning to give the overall strategy +90% return was to take those small gains,,,

Which has played out for Matd , while I hold for the big one, and missed out on Hex,, But He1 taking the small meant I missed bigger returns.. but when the big gain appears sometimes you can't get that sell completed..

Its called wild fermented pizza, only thing the dog doesn't want to share :)

Lol, it was Easter Mondays pizza, must have vibrated off the top of the washing machine, lucky find as I did'nt see it until I put a sock on :)

MMM, lunch break, best crack open a white lightening and finish off mondays pizza