Member Info for dai2belts

I would tap the market to keep the company debt free, that 160 bopd is a nice lifestyle company maker if all else fails

What sort of funding would these guys go for £500k, £1m...

If not production since switching pits then they have a few months costs to cover, could be done with a CLN

About 9m shares gone through delayed so about £62k, off-loaded..

Then a near 50/50 in buy sells so roughly 9m shares pegging the price at ~0.68p if MM has them on the books to clear

Vol. Sold 5,681,742

Sold Value £40.04k

Vol. Bought 4,736,086

Bought Value £31.20k

I have been preparing to take a hit on Geni, as I suspect they have misinformed the recent fund raise subscribers, and thats possibly why they updated the market with bad FDA news before forthcoming FDA/Geni review, and have not given an early price boosting update..So expecting another poor update next..

While preparing Calamity Hami snuck out that late day suspension update...

ALL Gov not playing

So getting a beating at the moment....

Its hard to figure out whats going on, no gold from pit 2, that should still be leaching

Pit 1, grades of 1g, efficiencies have been low, so could stil see below expected results

What about the other Pits ?

Gazzelle, drilled 2019, wasn't considered worth testing then, pinch out , 3m oil bearing upper zone, while main target was lower.. I think Heron 1 might be within same upper geological formation, but different structure...

Heron 2, inject water to increase H1 flow, why not just take the 30bopd, unless doing that may reduce H1 rates

Gobi, wasn't considered worth testing last year....

Heron field was supposed to support 5+ wells requiring 3D to locate 4 & 5..... whats happened there ?

Update seem waffly . talk about using Heron 2 as an injection well, and also reworking ?

Check the originally grades for pit 1, then look at the update suggesting the move back to pit 1 and check the grades there, its suggests grades have lowered... Any thoughts to why they did'nt move to a fresh pit, ?

+4m trade just charted, shows as a buy but could be a delayed trade at that size..

Sub 0.7, looking at 100% IF next gold pour an improvement on last, but these companies are so dodgy

Well Permit Hussar 2. moved to on hold, more info required...

How Gex got a main listing I don't know, at least people won't be caught out by substantial overnight fundraise as prospectus is required.. Company would be insolvent before getting documentation completed

Exploration Permit Fullfillment , wouldn't this be work requirements to proceed with permitting like the land councils consent

Approved

Exploration Permit Fulfilment - Confirmation Approved

, after exhausting pit 2 while not making the grades, or 1000oz monthly target, they have switched back to pit 1 hoping to improve.. But pit 1 has previously been mined...News, they did start announcing monthly pours, expecting grades to continually improve then stopped, partly due to switching pits.. Announcement have been near mid month....

Here is his 15 day timeline

But 15 days from what point...

https://www.wa.gov.au/organisation/department-of-energy-mines-industry-regulation-and-safety/licensing-performance-department-of-energy-mines-industry-regulation-and-safety

Thanks Kev for shouting ....

Calamity Hami, I thought the price was doing a little too well this morning.

So Hami gives auditors a call a little too late to get the job done on time, or had to do some garden work for initial down payment....

Well it should be a technicality, and those permits granted by June...so could see a gap up on restoration..

To sell locks in a loss, possible missing gap up if permits are granted(but what is really going on)

Only a few weeks back was looking at this, considering 0.90-0.95p entry early exit 1.2-1.3

Now its sub 0.8p with a seller taking lows..

Unless management are silent because plans to switch to pre-mined pit are failing to improve gold grades, then +50% could be on offer

@Swissydog... Wats your thoughts on Geni's likely update due next week ?

The fact that they gave poor news ahead of the review with FDA knowing the impact it would likely have reminds me of He1 where the NOMAD advised them to warn in advance of the fund raise...., but in that case He1 had recently claimed they were funded while in reality they broke, so technically issued porkies

Hami Dreaming

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

Georgina Energy

Helium One

Helix Exploration

-----------

Helium (BCFG unrisked 2U, P50) CPR

323

212*

2.3

-------------

Hydrogen (BCFG unrisked 2U, P50) CPR

335

0

0

-------------

Natural Gas (TCFG unrisked 2U, P50) CPR

3.00

0

0

-------------

Seismically Defined Targets & Wells Drilled

2

1*

0**

---------------

Company Project Status

Well Re-development ( explorer, unless methane is the Goal, looking for unproven commercial helium)

Explorer

Explorer(proven)

----------------

Infrastructure

Access to Road, Rail, Pipeline, Third Party Processing Plant and Ports(middle of no where)

Access to existing infrastructure at project locations

Limited infrastructure

------------------

Production Status

Not Defined

Not Defined

Not Defined

----------------

Salt Cavern storage capability similar to USA

Yes ( who would want to store helium in the middle of no where. cost ?)

No

?

-------------

Federal Government Infrastructure Investment

$110 billion

Nil

N/a

----------------

Source of Helium, Hydrogen, Natural Gas

Defined( ?)

Currently being evaluated

Currently being evaluated(proven)

----------------

Location and Jurisdictional Risk

Australia / Low Risk( no permit)

Tanzania / High Risk

USA/Low Risk

----------------

Market Capitalisation (2/10/2024)

£9million (inc. £4.33M cash)

£75million

£27million

Issue is the guy stated 10-15 days to get drilling approval after submission before Christmas, now when there is real evidence docs are with DEMIRs we are almost 2 months with docs still at screening stages..

You just don't know how competent he really is

Mmmmmmm, 8p while 11p reached anticipating DEMIRs approval. May see that again soon...