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Joe- yeah you are right, they have all the equipment on site to test any samples ect.. so they will know.
Just not sure if they are at total depth yet, they should be going on the time line they have stated but I guess these things can take time.
The dilution is off set by the helium price doubling and the resource size increasing by 66%.
I get we are where we are sp wise, but surely once proof is discovered this will re-rate. I know I won’t be selling any low if they do get a discovery - the risk is removed then and we have a second drill.
Good luck to people that think they will get in below 20p if they hit. Even in the 20’s would be cheap at that point.
On another platform it has been said that all the replacement parts we could need for our drill are in Kenya, it’s a 6 hour drive away apparently . So not really a major issue getting parts. - As long as they know what part they need I guess.
Does anyone know what the process is for testing.
Do they drill to total depth, recording any shows and then wire line test the shows from TD to surface?
Or - Do they stop at each show and wire line test each zone on the way down.
If they have no shows on the way down does that mean they don’t do any wireline testing and just move straight on to the next drill?
Would imagine each one works out to a different time schedule for when they would be complete with the first drill.
I think most people have well too many shares, all hoping to de-risk in the mid teens +. Now have been waiting for the helium show rns hoping for that last push to de-risk.
Time is running out and people are getting nervous, add to that stop losses and we have a bit of a mess.
If it isn’t that then maybe someone knows something we don’t, It’s the first night I hope we don’t get an rns in the morning,
What are people’s thoughts on the sp if we get good results? Seen around 12p mentioned a couple of times. Would of hoped for more like 30p +
Although I did think we would be around 20p now - which has been an expensive learning curve, so I guess 12p could be more realistic the way things are.
Hopefully will all come good.
A smooth drill is also important for renting the drill / team out as a service to other people. I suspect that is one of the reasons they have started showing the setup and what they are achieving.
A successful drill to total depth shows they can do the job correctly, regardless of if they hit helium or not. Which gives us a revenue if they can rent it out during down time.
I think now we are just seeing people taking money out they would have derisked.
Unfortunately because the sp is low they have to sell more shares than if we were a higher sp to get the money out they want back.
Can see it carrying on for a while, some may still be waiting for helium shows before they sell, if that rns don’t some early next week then I think people will sell.
Won’t really effect long term holders on a good result, may take slightly longer than first thought but if they hit then it’s just a matter of time before the sp goes to a reasonable amount.