Member Info for Jammysparrow

DFC are meeting today with an agenda item to approve $900m additional funding for the Critical Minerals Consortium, presumably mathced by further private equity as before. Hopefully that could provide the funding to move some of those decisions forward.

NH, I think it is comparing Market Cap to potential annual production.

Kefi - 200,000 ozpa, MC $180m --> MC/ozpa ~ 900

Perseus Mining (PRU.AX) - 500,000 ozpa, MC $4.5bn --> MC/ozpa ~ 9,000

Obviously Perseus is already in production so much higher but we are way below the benchmark for other developers

Wow, what a game changer. 1 hour in and we're already equalling the highest daily volume for a year. Just goes to show how big a deal this is.

No sold at a loss. These were bought at the bottom on 30th September. Nice little trade for £7.5k

If people want a better understanding of the bcf's that might be in the CPR it's worth looking again at the admission document:

https://www.helium-one.com/wp-content/uploads/2023/02/259989-Project-Apollo-CLN-reduced-memory-Final-13.11.20.pdf

Okay, its a couple of years old now and the information about Tai was updated with a newer CPR document (which gave a higher estimate) but it still has a whole load of useful information.

In particular, page 100 has a map of the area with fields marked on it and page 102 has resource estimates of those fields from three previous studies. That's where the 138 BCF comes from but that includes some areas which we have since relinquished licences over (ie Crocodylia and Kiboko I believe).

You can map the ML to the fields on page 100 and looking at the resource estimates on page 102 I think at that point there was an unrisked P50 estimate of around 36BCF from the areas which the ML covers. Of course they now understand the geology better but this gives a good starting point for the area the ML was granted for.

Troublesome, yes sorry it's 250MW of electrolysers - the Vernova turbines were 200MW

Exciting times indeed!

Fingers crossed this unlocks our ability to supply 200MW of electrolysers to Whyalla via Boc (Linde), who are preferred partner for the project. They announced the contract for the power generation with GE Vernova ages ago but have never announced the electrolyser supplier.

My two favourite parts of the RNS:

" jointly develop a standard design configuration"

"customer to deploy projects rapidly"

Standardised easy to deploy design ,sort of a small modular electrolyser. Love it!

Great to see a nice steady rise on the hare price today too, no wild swings. Hopefully nice momentum into the Interim results next week.

GLAH

Section 1.4 details electrolysers considered for the project

Do we think we will be in for this one:

https://assets.publishing.service.gov.uk/media/648089955f7bb7000c7fa666/iha-2a-eon-hydess-feasibility-report.pdf

Eon posted to Linkedin a couple of months ago about this and had a number of reactions from ITM staff. It's right next door and has links to Sheffield Forgemasters. Appear to already have a preferred electrolyser supplier (not named but the electrolyser spec would match ITM)

Only a small project at first (10MW) but notes that it could scale up afterwards and links to Liberty Steel, Eon etc

Could be interesting

Https://fuelcellsworks.com/2025/01/16/green-hydrogen/hygen-secures-hsbc-uk-backing-to-scale-green-hydrogen-operations-in-birmingham

I wonder who they will get the electrolysers from 🤔

More Neptune V sales incoming?

Well this has surely got to be good news for ITM:

https://www.gov.uk/government/news/thousands-of-british-jobs-to-be-created-through-closer-uk-saudi-cooperation

Prime Minister Keir Starmer said:

Further boosting the green energy relationship between the UK and Saudi Arabia, Oxford-based private equity fund HYCAP is supporting Saudi Arabia’s plans to reach net zero emissions by 2060 by investing £785 million to develop hydrogen mobility clusters in Northern Ireland and across the UK, creating more than 1,000 jobs.

The project will deliver hydrogen buses, trucks, critical components and other elements of hydrogen production and distribution, while removing more than 25 million tons of transport-related CO2 over the lifetime of the project.

And the UK and Saudi Arabia are working together to establish a new Joint International Institute for Clean Hydrogen.

By the way, does anyone know if there is a pathway to gain approval for the test to be used in COPD?

I understand Clopidogrel is used to treat heart attacks and may present a more urgent testing turnaround issue.

Strikes me that if you say the test is good for determining the effectiveness of Clopiidogrel then it would be equally valid for that as a condition too. But I guess they would need to look at the economics of whether it saves money overall.

I'm kind of surprised that it's not something that has been presented by Genedrive as a future development but I guess there must be a reason why.

But that's like saying lab testing is expensiv because it costs several £m's to build a new lab.

The NICE guidance itself states that the unit costs associated with POC are low and labs are only going to be low if you can get economies of scale with samples being processed in large batches.

I'd love to hear the conversation a consultant has with a patient when they tell them that the best option is lab testing and you only have to wait on average two weeks for there to be enough samples to make up an economically viable batch for testing. It would be bonkers.

For what its worth I think hospitals will need to at least purchase a machine and a small number of tests as a backup in case lab testing is not available within a reasonable timeframe. Sure, I'd love to see huge volumes of tests being consumed but we're yet to see how this plays out. I'd be happy for the time being to know that there are going to be machine sales and some initial orders of tests to cover the period in which Genomics England work out how it can increase capacity.

You need to read the notes below the table:

£1,200 assumes monthly control tests to be used for calibration (12 x £100 per test)

Device costs of £833 is based on machine cost of £4,995 over a lifespan of 6 years.

If they pay up front the cost of the machine is expected to be £4,995. A fact stated by NICE in their guidance to commissioners.

Unit Costs Cell B63 states £4,995 to be used in the model.

Interestingly also assumes a warranty of £750 per annum for each machine after the first year which could be another useful source of recurring revenue

Sorry £100 because they are assumed to be Zero VAT

The machines are £5k and the stroke tests are £120 - that's confirmed by the spreadsheet available for making impact assessments on the NICE website. https://www.nice.org.uk/guidance/dg59/resources

The cheaper test price refers to the AIHL test which is around £80

Agreed LegalWolf, especially as more and more demand for genomic lab testing will become the norm. Why would the labs have space to prioritise testing for a genetic condition for which POC tests exist when there are bound to be demands for conditions where POC is not an option.

I see this test as being constantly pushed down the priority list for the hub labs unless there is a massive increase in capacity (which the responses to the consultation cast doubt on).

Trusts will need to buy the genedrive system in order to guarantee any sort of test can be undertaken in a reasonable timescale.