Member Info for Glib

Forgot to say... https://invst.ly/v6hd-

Hit a trendline and bounced. SP often falls at the start of a drilling campaign as it is a known unknown and the market likes to know. The only things that have happened in the last few days is the drill has gotten closer to the first trap and the SP has fallen back to where it was last week.

We are 1 week in to a 4 week drill of the first of three or four holes at this site. I'm just glad i'm on medication.

DM said each drill would take about a month. We will be more than half way to the first Trap by Monday, but don't think we'll be at 600m. I reckon we may be around the 400m mark by then.

We should be seeing something in the muds soon. Well, not seeing - or even smelling. Mass-Spec, time to do your thing.

I unfortunately agree with Joshwaa. Resistance isn't really going to play a part in stopping the downward trend. The SP has pretty much ignored the resistance that was there. The downward trend is 47° which is pretty extreme and will hopefully reduce in the following days.

We have some weak resistance levels at 18.78p, 17.52p, 16.65p and 15.62p before reaching the first tested resistance of 14.23p. That's purely because we went past those levels so quickly. https://invst.ly/v62zl

Drilling started on Saturday 12th. There was a tweet that stated the commencement of of the drilling programme was on the 15th. My understanding is that a large bore drill is used for usually around 40ft for the pilot hole which then has a steel casing which is cemented in place. I think this is to prevent contamination of groundwater. Drilling of the actual hole then begins which in our case was the 15th, so this is the equivalent of the 4th drilling day. So potentially we are at about 160m-200m?

I had mentioned a depth of 300m for the first trap, but looking back at what I had read, this was mentioned in January, before Tai had been chosen as the first target site. Dai had mentioned the first trap being just over 500m, so this time next week we should probably have reached it. As the rock in the area is known to have approx. 30% porosity, HE should appear in the mud logs if it has migrated to this area. That should reverse the SP fall and reduce the rate of any further decline until clarification on the results is reached. Hopefully.

The buys / sells are a guide, not confirmation of buys and sells.
There are a number of brokers offering around the same price, but the buy/sell goes by the mid price at the time of the transaction. If you buy at a price lower than the mid price, your buy will show as a sell - and vice versa. It is not exact but can be used as a rough guide.

Agreed - it was an average of around 4% Helium @ $250mcf for the field valuation wasn't it?

The first trap at Tai is around 300m I believe, so the weekend could be quite interesting.

ECHO...

Nope doesn't work.

Was DM not giving a historic perspective of the SP? 52 week low is 4.35p x 5 = 21.75p

Salt 'n' Pepa - Push it.
Nena - 99 red balloons

So how do they replace the drill bit? Remove all the casing?
Or would that drill bit be for the initial few metres only?

My back is already knackered just thinking of moving that metalwork.
Did anyone notice the skip? It's been there 2 days and nobody has chucked an old sofa in it.

I can understand why people are so anxious about the current SP. We haven't seen these levels since... oh, Wednesday... then Monday... and Thursday, Wednesday and Tuesday. Below this on the Monday...

At what stage should we panic? People are still buying as well as selling. We've had about 48 hours since drilling started - no idea if this is a 24 hour thing or not but the only excitement for me is looking at the chart again in a few days to add a few more lines.

Last week we were bouncing between 20.5p & 22p. The week before was 20p and 22p. Today we've been between 20.5p & 22p with the benefit of knowing that drilling has started and the project is moving ahead. It's too hot for drama - awaiting positive news and a new pretty upward trend to plot. https://invst.ly/v4taa

There be gold in them there hills...

Which regulars? I'm not much of one for conspiracies, but I got blasted when I mentioned selling during the last peak - that's because I sold every other share I owned to invest in here and had to rebalance the portfolio. I didn't think I would get back in below the price I sold at but got lucky I guess.

We know that helium is migrating throughout the area due to the seeps, so I would imagine the mud logs will show helium at some point. We just need to find where it has built up and been trapped so we can access it. It seems likely that we will continue in the current range until either seller stops or more news is released.

My alarm is set - because it's a workday. 7:40 - market isn't open until 8:00 and i'm a lazy git.

Hoping for an RNS but not too worried if it doesn't appear. I have the baseline intersecting 21.5p on the 15th at 13:45, so curious as to whether the SP moves to a new range or just continues as is.

One of the graphics in one of the presentations had the various depth targets for the sites.

I believe Tai was 1200m but i'm not sure what depth the first of the stacked structures was at. I may need to look at that later.

I would estimate news from mud logs after 5-10 days (if there is anything to report) and the drilling I would say would take just over 3 weeks to get to 1200m. From what I have read, 60m per day may be the most that can be expected, but it will also depend on the rock encountered and any downtime. Allowing for 50m per day, this would be 24 days of drilling to get to 1200m

The drill could probably do 8 or 9 metres per hour given the right conditions, but with the different rock types encountered, they would need to pull up the drill and change the bit, then lower it again; they would need to amend the speed of the drill so that the bit does not burn out and continually adjust the pressure each time a new casing is added. The more weight exerted in the drill bit, the slower it needs to go - I have no information on the size and weight of the casings but 24 tonnes for a 1200m hole is probably in the right ballpark. The rig can handle up to 45 so well within range for lighter rods.

Rig details https://www.mccullochsdrilling.com.au/new-equipment/hanjin-d-b-45-cbm
A bit about the steps involved and the tools used http://www.comdrill.de/Exploration_Core_drilling_Technique-s.pdf

I think Bigpat's comment was directed at the market makers Dai. Once "the seller" has finished, the price won't be held at the current level. I don't think that will make much difference now - once we get news of the drill starting, this should give us a boost.

The market doesn't seem to be too concerned about lack of news right now. The high today pushed the end of the pennant back another day, so it may reach 21.7p on Monday to add yet another day if no news again. At least that's how I see the pattern progressing. https://invst.ly/v3-oh

The baseline still seems to be holding which is good. It is 21.25p on the morning of the 14th, 21.4p on the 15th and 21.55p on the 16th. So we are still moving in an upward trend. The news is, there is no news. Have a good weekend folks.

Dai - I have looked at a number of drilling videos over the last few months. This is probably the best example of wireline drilling and core extraction. The core can come out in one piece, but also sometimes as gravel/chips.
Animation explaining process - https://www.youtube.com/watch?v=HjSX41ecm94
Wireline in action and core extraction - https://www.youtube.com/watch?v=VF3_TqN6AQA