Member Info for Daventry

Im keen to see Helix push on with its core Helium business as a priority, that being said the oportunity from hydrogen could be enormous.

The US currently offers a 45V tax credit for green hydrogen production. For helix this would be $3 for every kg produced. The credits are paid for 10 years from start of production and can be paid in cash for the first 5 years followed by a tax credit agaisnt profits for the following 5 years.

Depending on size of deposit,if we could produce a relatively modest ammount tax credits would be worth $3000 per ton alone.

When the heads of terms were signed the price went from 55 to 80p.

A lot of ups and downs have happened since then and Atome has burned through a lot of shareholder confidence. but hopefully we can get back upto those same levels.

Kicked off after the second RNS, I imagine a lot of people missed the wording of it and that highlighted the "definitive offtake"

Perhaps people think Atome have let the cat out of the bag early. I don't belive that is the case myself as they would be obliged to anounce an agreement.

Still good to see the stock up for a change.

Good spot, just checked it against the prevous RNS and it's definitely been reworded from heads of terms to definitive. Strange they haven't made an anouncmenet, I would have thought they would be obliged to disclose it?

Presumably we would receive $1m each on signing definite offtake, equity and debt.

To counter that the company has over $6 million in debt and trade payables.

The £4 million was an extension on the loan he had already given the company. It was due to be paid back some time around now but was extended by a year.

Offtake and Equity now targeted for the end of September. FID pushed back to the end of the year.

Although this would be the end of the world ordinary, it does represent yet another broken deadline. No news on the IDB funding so my guess would be this hasn't been approved yet.

Most concerning for me is that the company only has $361,000 in cash. That was two months ago and includes $2 million we have already been fronted by HY24, if things don't move and very quickly another raise is imminent.

Atome have signed a fixed price contract with Casale at an agreed price. Surely the specification and price for electrolysers will have already been agreed and be down to Casale to procure.

He smiled because of the close to $2 million he's had out of the company in salary and perks. He isn't in for anything.

If 90% of my comments are negative thats because the overwhelming experience of investing in the company has been negative. Mussat talks about de risking. Its becoming more difficult to trust a board who have failed to deliver on every milestone they have set for themselves so far.

Let's not forget the IDB date was prevously at the end of last year. This came and went without comment, it was then quietly moved to yesterday.

Interestingly in october last year (when we were being promised FID by year end) I had noticed the IDB date had been changed to May 2025. I emailed the company to question this as we were told FID would be by the end of 24. They replied back that they couldn't comment on internal IDB procedure, by the end of the day the date had been changed back to December 2024.

I would take the IDB date with a pinch of salt. All of the funding so far is simply conditional. None of it means anything without an offtake or equity investment.

We were told both of these things would happen by the end of June 2025. Still no news.

Let's not forget that the company have strung us along with FID moved back over the last 2 years.

I think investor confidence in mussat is now so low that even with positive news the share price will struggle to move up.

That's the end of June come and gone. Still no offtake or equity group ad promised.

Without offtake we won't get funding. The linchpin of the whole project is the yara offtake agreement without this everything stalls. Its now been over 12 months since heads of terms were signed. That Atome haven't been able to pin yara down to a binding agreement in all that time is very worrying.

Thats a 4% dilution. To receive a bonus that dilutes ordinary shareholders a few days after announcing another delay to Viletta is a slap in the face to ordinary shareholders.

What's more it leaves the door open to a further subscription at 50p, this is half the price attributed to Atomes share in the Villeta Project.

I just can't get over what a bad decision this is. We've been told by the management time and again the main benefit of being in paraguay is the availability of cheap baseloard green energy.

Mussat himself has explained this removed the need to waste time and money building out generaton capacity.

So why are we now going down that route. It doesent seem to complement the core business at all.

Atome is a startup management need to have a lazer focus on getting Villeta across the line.

This is against the backdrop of continuous project delays over the past two years. It really makes me question where the management's focus is, and the reason for project delays.

It actually makes me want to cry, FID pushed back again to the end of September. Why are the company wasting time and money pursuing solar farms. We need to focus on the core business. The company is out of cash behind schedule and they are looking to change tac again.

I would but that depends on how likely you think the financing is. We were told financing would be in place over a year ago.

Look how long it's taken atome to negotiate the deal with HY24. Hy24 are supposedly the largest green hydrogen fund in the world and they are only putting in half of the required equity. Although having them on board does make things more appealing to other equity providers atome now needs to through the same process with multiple other financing partners.

That's all well and good but a share price of 70p is a disaster for most investors. The ipo was more than that.

Very Frustrating, all the progress that's been anounced, Equity partner in place with atomes share of the project confirmed at $60 million and the stocks just hit an all time low.

I can only blame the management, I think after so many false timescales and delays the markets confidence in what they are promising is shot.

We were told EPC will be finalised this month (strangely after being told EPC was complete and contracts were in place last year).

This will be the final straw for me, no formal EPC contract by the end of Q1 and that's a broken deadline too many.

Did anybody else attempt to contact the company with regards to the supervising of the build and if atome will be paid for this.

I reached out to them on Friday but have yet to have a response, not even an acknowledgement. A big disappointing given mussat said in the latest presentation that atome were working in improving the perceived poor communication with investors.

It might be worth a few of us contacting the company to see if they can explain if ATOME will receive any payments related to its "day to day management of the build".

Like you say that would explain some of the higher than expected costs.

Olivier said something about atome needing to get better at communication with the market and shareholders during the presentation. I would be supported if they are receiving a fee and haven't disclosed it.

It would hardly be confidential information as all of the partners are now in the room and fully aware of the terms.

If we are receiving a few this could provide significant upside to the stock as it would calm fears of another raise.

I also find it hard to see how they'll could raise at current levels. If the management are now stating NAV of $60 million a rise then they need to issue with an issue price reflecting this. at this late stage a management fu could be seen as them profiteering at the expense of small investors.

It is notable that atome is maintaining day to day management responsibility for the project so maybe we will receive some sort regular income for this to cover some our operating costs.

It may also be that an "equity club" is put together for yguazu at a much earlier stage with atome responsible for developing the project and money being advanced by the equity club as certain milestones are achieved, similar to the setup that has now been put in place at villeta.