Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Its certainly not complicated. The company needs to discover trapped free gas in sufficient quantities and concentration of Helium to be commercial. That requires an effective seal.
Why do you think Itumbula wasnt their primary location. ?
TAI3 was the location where they were most likely to discover an effective seal and hence trapped free gas.
They found neither,
Based on the fact that TAI3 was the company's most favoured location to find an effective seal and hence discover trapped free gas. However they failed to find an effective seal and trapped gas.
Itumbula has gas seaps all over the place, therefore logically there isnt an effective seal as if there was you wouldnt be seeing all the helium seaps.
Completely agree Latino, Blaisse absolute obsession with drilling Phase 2 in 2023 has virtually Fked this company.
As an exploration company purchasing your own rig is absolutely brainless.
If no commercial discovery they are stuck with a rig which they will then have to sell.
Should have continued to try a source a third party rig even if that meant drilling TAI3 in Jan 2024 instead of 2023.
Worth noting the Marriott 16 rig is presently sat idle,stacked a stones throw away at Mbelele
Have pretty much zero skin in the game. They couldnt give 2 Fs about shareholders.
Their priorities are exploring and drawing a salary. When the money runs out they will all move on.
A contrast to NH where the CEO and BOD have plenty of skin in the company.