Member Info for dai2belts

Cant be sure, I doubt they will ramp their drill, after last time, how long is the drill ?

Nobles updates mention their drill is September

Page 2

"Our initial target will be to drill and test the Mbelele Basin Margin Fault Closure (BMFC) in September 2023. "

https://announcements.asx.com.au/asxpdf/20230605/pdf/05qbz8f1nyrq93.pdf

I thought the farmout was to raise $20 to drill two holes, but apparently the costs to drlll and test are significantly less, part of the reason for going with the raise, just $10.8M for 1 plus extras $13.5M...

It clarifies the use of proceeds, and provides costs..

Silver, not enough for solar

https://www.bbc.co.uk/news/science-environment-65602519

Forgot to say thanks for the replies :)

Placing Fees $541,500, well worth it, we are drilling, I hope

Is this our ship

https://www.youtube.com/watch?v=TT1NstlqvWg

August, for second tranche, I cant see it not being approved if they have the funders, and want to progress..

Thats what explorers do, placings, and more placings,..

Tranche 1 looks enough to get that rig mobilised..

PRD, $3m to drill

He1 previous Exalo drilling cost, close to £3.5M

· Drilling rig: £2.07m

· Drilling services: £0.75m

· Civils: £0.36m

· Drilling ancillaries: £0.35m

Extras and tax..

Formation evaluation: £2.05m

· Tax: £0.88m

· Additional working capital: £0.99m

I see Mr Scott is the confident one, $1m vs our guys £10k, that stands out ...

https://announcements.asx.com.au/asxpdf/20230605/pdf/05qbzbfb335xnk.pdf

I think Skittish is correct $13.5m to drill 1 well, and order long lead Items

The Company is pleased to announce that it has received firm commitments from institutional and sophisticated investors, including existing shareholders to raise $13.5 million (before costs) through a two-tranche placement of a total of 75.0 million fully paid ordinary shares ,,,,,

The proceeds from the Placement will be used to drill the Company’s first exploration well and purchase long lead items for the second exploration/appraisal well at its North Rukwa Helium Project in Tanzania in Q3 2023.

Reads to me if a discovery the second well would be an appraisal so I assume the same prospect not another...

But we are funded to go, and Noble BOD are up for $1m, ..I assume its out of their own pockets ???

@KeithOz, whats Predator Oils cost to drill their 1500m wells, and who is the operator/crew

Well not sure what to think about the JV comments

But Directors taking $1m

Subject to obtaining shareholder approval at the EGM, the Directors of the Company have agreed to subscribe for a total of 5,861,112 Placement Shares under the Placement (representing a total subscription amount of $1,055,000).

If you like weed killer, you let the stuff grow so there are plenty of leaves to treat, so more goes into the roots..

35 now ;)

Merge, then start firing the those who thought $5m was enough to drill 3 gas wells

I think their announcements office opens 8:30am Sydney time...

Not long now.....

They seem to have all the next moves lined without completing the current jobs, proper DIYers...

And MMs that move the price up and down..missed out on a lot of opportunities there..

AEX same thing, got the carrot, its also just out of reach, and they are carried..

JSE, I think thats being manipulated by the big boys, lots of large trades, then they go quiet, shares get bought, and the selling starts again.. probably works the other way too.. Its been a big sell on news, the same news that speculation took to 90p, on the last of 3 rises.. Smart money sells high..buys low..

If it stays low, and is the bottom it might spike, depending on news flow..

Been thinking about PRD,

Drill, update at TD, only mention positive indications, nothing in depth, along with successful drill to TD,

Announce testing, on completion announce results to be analysed, and move to Mou-1 testing..

Mou-1 on completion, results to be analyzed ...

So 4-6 weeks waiting, unless something fantastic shows up..

They will need to get the price up to raise....

Will have to wait and see whats announced, for Noble to talk JV and signing the rig june/july knowing Tanz approval was needed would be rather naughty... if it was He1 I could believe they were unaware.. :(

Could it have been to distract from a raise, it was a Major shareholder introduction ;)

Followed a few with a JV left hanging in the air, for a fund raise to follow,

I dont trust AIM CEOs, lost a fair amount of money , for what is said, when comes to light is almost nonsense..

Have one now, said testing phase 1 would start and be completed end of 2022, that said near end of 2022, stuff was stuck in customs at the time, also customer needed to fit testing into production runs which very recently was something not totally timetabled so cant give a likely start date..

Just hope they are right about Tai

Fingers crossed this drilling program will be announced fully funded before bedtime, and we dont have to worry about discounted share being flipped, come August a 2 year wait will come to an end..

Waited on a Water Rig, Cluffs Predator, and Exalos IRI 1200, but finally SOFORIs drillMec looks set for Rukwa.... phew...