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At least this time they aren't drilling near an area that has a large water source nearby. Hopefully we hit some gas this time.

At least they now know what rock types they will be drilling through at the various depths, so will be able to hopefully get deeper faster. The drill they ended up using last time was actually more powerful than their original choice. We just need to be very careful and take precautions to ensure that the radioactive isotopes in the testing equipment will not get hung up on anything.

https://www.youtube.com/watch?v=4ao6B0ZOCDI

You can forward sell shares. A couple of years ago one of the bargain basement financers did this and took a share to fractions of a penny. The shareholders then had to vote on whether to accept the heavily discounted placing. Nope. They then had to buy back all those shares they sold when the price was no longer low. Total carnage. I'm pretty sure it was more shares than were in existence at that point.

@Deano - Not sure we would get flooded out, but the rainy season is usually Nov to Jan. We want everything in place and preferably finishing up by then. It wouldn't be fun to try moving that rig through mud.

The cost of purchasing the rig, paying for site setup, security and drilling contractors might be within budget, but I'm not sure we would get more than 1 hole before cash became an issue.

I am not concerned if the rig has been out of commission for a few years. The Total Market interview stated:
"We have a rig which is identified. It is currently in a yard in East Africa. We have sent a third party rig investigation company. They will put the mast up. We're going to run it under load; we're going to take apart all of the pumps; we're going to strip all of it down to its component parts and build it up again. The purpose being it's basically much cheaper and much more sensible to replace parts while its in its yard in East Africa rather than to bring it out to Rukwa and allow it to break down there."
https://total-market-solutions.com/2022/06/helium-one-global-ltd-may-2022/
So the rig Audit is basically also overhauling the rig to ensure it is in good working order.

We have a rig potentially getting fixed up and we have the site identified. We can't get the contractors on board until we are sure the rig will be operational as we won't have a clear start date. The contract for that could take around a month and then the site needs to be prepared (while the rig gets moved). Q3/Q4 seems to be about right but it will probably depend on how much work needs to be done on the rig. Hopefully Sep/Oct will see the drilling start and it should only take about 3 weeks to reach target depth. Oct/Nov we do wireline testing and Nov/Dec we get flow rates and a Merry Christmas.

We had a nice rebound off the trendline established on 9th March. This is the 3rd time it has been tested and it seems to provide strong support. We are also testing the trendline of the peaks and this pennant seems to be coming to an end in around 2 weeks. A gradual increase would be welcome and prolong this, but the new financing may reset this a little. https://invst.ly/y8r-x

While I see this as a good long term investment, I still try to keep my eye on what could happen short term (hopefully stop me getting burned again).

We know the news we are waiting to hear, but not when the news will be released. They were looking at rigs, so that will also impact who they get as the drilling contractor. Both pieces of news that will move the SP in my opinion.

We know how much money we have available, so the rig news will let us know how many holes may be drilled. That is a short term warning flag I intend to keep an eye on. Will we be drilling just one hole? Will more funds be required if the drilling program has numerous planned drill sites? There is not the same rush to raise funds as last time so I would not expect the impact on the SP to be so severe. More funds will be required at some stage, but the SP could be in the 20's by then.

I guess after they identify the rig they intend to use and then the contractor to use it, they will need to get the contracts created and all the paperwork in order before they confirm anything. I reckon that could take 6 weeks, so not worried about any lack of comms right now. Not sure how long it would take them to get the data from the various exploratory elements together to form their drill plan for this year. They would also need to take the seasonal weather into account before drilling could start - moving the equipment, preparing the site and accommodation, security, staffing... Not to mention any local negotiations to get permission to drive through fields and create equipment storage yards with the main site.

It looks like people's expectations are high just because the price jumped. This share used to do that quite often (before Tai-1). I think it was that article in The Citizen that may have caused the jump - nothing else of note that I can see other than FOMO. And the article didn't even mention HE1.

I am not sure why the price jumped today (but happy it did). According to the 1 hour chart https://invst.ly/xuv5c, it bounced off the low trendline (red) established on 15 March and rose to the top trendline (blue) which is from the high before Tai1 results to the high on 20th January.

On the 5 min chart https://invst.ly/xuvdz, it looks like it bounced off the blue line and is now sitting around the 10.21 mark which has previously been a strong resistance point (both as a floor and ceiling). We were also coming to the end of a pennant (> made from the recent peaks (green) and the base trendline (red)) so movement was expected within a few days.

Whether the SP sticks to the blue trendline (either as a ceiling or a new floor) is unknown, but with the blue-red pennant ending at the start of May, I would hope it stays above 9p until some news moves us up.

A few months to conform 230MeV and then 90+days for certification.
A happy Christmas?

It just broke through a trendline - next resistance is at 13.5, then 14.

Anyone know if this is available to view online anywhere?

Crazy to think we are still about 15% down on the month.

Is anyone going to be on the 2pm conference call? Surely they can't have any news that would impact SYME if we haven't released an RNS?

Not sure where Helium was in previous lists, but it looks like it may be no. 53
When the hospitals are able to get back to scanning and their normal operations (rather than Covid), then I imagine use of Helium will go back up.
https://www.federalregister.gov/documents/2021/11/09/2021-24488/2021-draft-list-of-critical-minerals#:~:text=On%20behalf%20of%20the%20Secretary,barite%2C%20beryllium%2C%20bismuth%2C%20cerium

Based on the current hi/lo trend lines, I think mid April is crunch time if there is no upward movement. https://imgur.com/Ul0vKv4

The chart shows we have been bouncing along in a range for the last month and we could quite comfortably continue to do so until mid march when we cross a major trend line. https://invst.ly/xg28z (Blue line from Tai1 before the fall).

Movement continues to follow a positive trend without new lows and we are right in the middle of the 1 month hi/lo trading range. Patiently awaiting news in the next few weeks.

I hope so Dai. It's been a struggle to find recent comparables that fit. Most are US based.

1 hole for the discovery at the centre of the basin, 1 to prove Tai - I'll be past caring after that. :o)

From the looks of the chart, we could stay around this level until next news hits. https://invst.ly/xdcit
While it is possible we could fall, there is a rising trend line supporting 10.5p and a long term support at 10.2p
We are currently testing the bottom of a trend line, but overall the past month has seen higher lows, moving us in the right direction.

The top of the current pennant pattern has us at almost 12p in a week's time and still at 11p within 2 weeks. https://invst.ly/xdclc I think the SP is quite stable at the current price - there are no negatives on the chart. Until we have news of the new drill rig and the costs for however many holes, we won't know if a placing is required. The interview yesterday stated they had north of $10M (£7.5M?), so they have money for 1 hole with a big rig - not sure about more. I estimate drill cost to be around £4M. https://www.youtube.com/watch?v=is5cVFjKtYo

If there is any news from the research that shallow drilling may be an option, then the SP should rise as those drills are quite cheap. Everything seems to be progressing well so hopefully only a few more weeks before we have some exciting news.

@smallfishbigpond
As I recall, HE1 were actually going to go with a smaller rig at the start, but Mitchell said that this larger one was available, which would save us money in the long term as it was suitable for appraisal drilling. This upgrade was what resulted in the last placing. It was more powerful and would ensure we got to depth, so it was a case of the wrong drill, but not as a result of not spending money.