Member Info for dai2belts

From Cannabis to chat bots selling skin care products, a chat bot is the next step up from " dont call us read the FAQ section"

@PortfolioPower, COPL looks bad...I will have to read that RNS again later, bed time reading.. I remember so little of the 1st read through, well its like I have'nt read anything.. 2nd attempts not much better...Memory of a Goldfish

If only I bought Friday, fingers crossed news Monday,

Rainy season, looks like the rainy season was just an excuse to call Tai-1 a day, instead of drilling past the 70m show, and on to test the 560m show.. Few believed DM when they said they would be drilling, Dec 2022, then Jan 2023, and now they are drilling Jan 2024...

One thing for sure, that rig is trouble, its use in Kenya ended with legal proceedings, probably helped DM on his way and has resulted in the LTH being almost wiped out and helped decimated the companies MC... Its a bit like Christine, probably taking revenge as its showed no love

https://www.youtube.com/watch?v=oezKQEF0deY

@KevR, lol, I bet you missed AEX's low too, 0.775, and it peaked at 1.2 today, .... I missed it too, well thought nothing is happening...

But both ALL and AEX seem to benefit from tweets or news from within the African countries they are based..

There must be other companies

Obviously Not My Post,

Floor could be in on FRG also now.

It is a fair way out from their Diamond drilling program as from memory I think they are going to do some RC drilling first. Then onto the DD program which I think will be the money shot, might see a pre placing pump in between all of this to fund their limestone mine operations.

So was it true then, or is this not the same as the original announcement ?

Just 4 trades, up 30%. spread 5%, not that I see any difference to the day before ?

Change: 0.0275 (29.73%)

Spread: 0.005 (5.556%)

10-Jan-24 12:09:12 0.0938 413,699 Buy* 0.09 0.095 388.05 O

10-Jan-24 09:03:59 0.094 43,101 Buy* 0.09 0.095 40.51 O

10-Jan-24 08:32:30 0.09 1,210 Sell* 0.09 0.095 1.09 O

10-Jan-24 08:32:21 0.09 729,330 Sell* 0.09 0.095 656.40 O

09-Jan-24 15:17:24 0.09 1,600 Sell* 0.09 0.095 1.44 O

09-Jan-24 15:07:34 0.095 10,526 Buy* 0.09 0.095 10.00 O

09-Jan-24 14:30:30 0.0935 637,443 Buy* 0.09 0.095 596.01 O

09-Jan-24 11:39:18 0.09 1,800 Sell* 0.09 0.095 1.62 O

09-Jan-24 09:07:30 0.0935 96,796 Buy* 0.09 0.095 90.50 O

09-Jan-24 08:16:52 0.09 6,666 Sell* 0.09 0.095 6.00 O

few more trades

Lol. she claims buying that rig has saved them millions, and holds firm it was a good decision..

I am still trying to convince myself 1 well for the cost of 2 is a bargain.. lol

@sdg1970, at least the closer it gets to zero the longer it takes to get there ..

Red Leb, if He1 goes up in smoke, just as well join them ;)

I was just listening to the rest of the interview, sounds like that $6m, does not cover the cost of returning to Tai ?

I believe she also mentioned they had enough to start Itumubula, but not finish, so why do they need $6m, especially when PRD are drilling 1500m real gas wells, and logging for I believe $3m in Africa too...

@Joe, that extra casing, maybe it came from Itumbula's stock, but thats click and collect so easily replenished, not worth mentioning , unlike the next size down ;)

But maybe Noble's Marriott had spare...

@KevR, if Itumbula does'nt come up trumps or He1 don't do some spin, we can forget the initial 40-50% duster drop, with funding due and anticipation of another 70% discount... Its going to get dumped...

Just need to rescue enough for a big block of Red Leb ..

@Tro, I dont get bitter lol...

But there is a difference and thats why the NOMAD advised them to say they needed funding, well thats my opinion..

The thing thats got me thinking, is that in He1's contingency planning they did not cover having to unexpectedly run another section of intermediate casing in the dry hole section, as they needed to do at Tai-1... Just like Tai-1 Itumbula will be intersecting faults.. At Tai-C they had to call it a day and move onto Itumbula because after unexpectedly casing they did'nt have the gear to continue drilling.. I also find it hard to believe they did'nt plan for something that had already bitten them, and which they claimed was not uncommon...

@Joe, Tai-1 the drill pipes parted after intersecting the fault, so they side tracked and cased that section..With the current planning they would not have bee able to continue.. They are drilling through two faults at Itumbula, if open could cause a significant loss of drilling fluids.. So it would be good to know they can stepped down a few extra sizes on the way to TD...

@Joe, Thats bad planning, it would have been a pause into 2024 for Tai if a section of open hole needed casing earlier than expected,, and if that happens at Itumbula they don't have the gear...

@Skippy

15th Nov

"The year ahead promises to be an exciting one. We are fully funded for our ongoing drilling campaign at Tai, the results of which will soon be published, and are funded for the follow up well at Itumbula."

5th Dec(after completing the costing, knowing they did'nt have the funds to start the next drill)

The Company has undertaken a full cost analysis and budgeting exercise in order to ensure that, Once Spudded, the Itumbula well can be successfully drilled as planned. In undertaking this costing exercise the Company has been cognisant of the Contingency Funding that May be required.......

@Joe, Mmmmm,, my point was if they had an incident similar to Tai-1 where they unexpectedly needed to case the planned open hole section part way down and then continue at a smaller dia, they did'nt have the equipment to finish the hole.. Seeing as they already experienced such complications its hard to accept they were not prepared for similar, especially when the outcome would be drill over... ?

Then pushing that extra few hundred meters and into that final failure, pushed the costs to more than that of a complete constructing a new site, drill and testing( $2m worth ;) )

@Skippy, they announced they were fully funded the same day they announced the start of testing.. They announced it along with the release of the year end financials

Just listened to why they moved on to Itumbula..

Mentioned because they cased the hole they needed to drill a smaller diameter hole, and did'nt have the equipment..

Suggests if they were unfortunate enough to have issues that required the hole to be cased part way down, then again they would have been in the same predicament, but that would have been bad planning ... Sure they side-tracked and cased Tai-1, about half way down..