Member Info for KeithOz

DD - The price of gold miners follows the price of gold. The worst conflict since WWII is underway, and gold has failed to reach $2K. Perhaps you have another conspiracy theory - UFOs landing this time, the Dogecoin picture is really an alien? More crap cross-ramping, give it a break, this is the HE1 board.

This is of zero importance. I am sure they don't actually have an office there - most 'Jersey registered offices' are just a mail servicing company with a couple of hundred different company brass plates screwed to the wall to give a legal residence status - no one actually works there.

Odysseus - I will assume for now that you are not taking the p., although for someone who says they are 'heavily invested', I would hope that you would have researched all this before laying down your money.

1. Will they get a rig? - Yes, there are plenty available. The delay is caused by agreeing a suitable deal, which is why the board are being evasive in answering a direct question. This may be something as simple as the price and duration, more complex like part shares/part cash, or very complex like a comprehensive JV.

2. Yes the basin is massively de-risked, and there is a working Helium system. There is an abundant supply of He at all levels - surface, shallow & deep. There area adequate reservoirs, shallow & deep. There are adequate sealing rocks at multiple levels. That's all you need to confirm a working gas system. Is it an a economic discovery? That will be confirmed by the next drilling campaign.

3. 2D seismic. This is completed. and almost certainly has been analysed by now, but not much point releasing it on its own - what is happening currently is the integration with the results from the ERT and MSSI. 2D will not show shallow targets, ERT will. This integrated data will be released shortly, thus identifying the optimal sites for the 2022 drilling.

The release of the drilling plan will possibly / probably be part of a larger-scale news release covering financing, offtake, new partners, etc. Also expect, a little later, a new CPR including the newly identified targets, substantially upgrading the current 138 Bn ft³ prospective resource.

These are my opinions from having done proper research, and why I am also 'heavily invested'.

sorry, should have been 3He from 4He.

3He - there is no economic way to separate 3He from 2He, nor likely to be for decades.

Other minerals - HE1 are drilling through previously logged sedimentary strata, which have been evaluated by multiple geophysical methods. There will not be economic mineral deposits.

Sorry to be a possible party pooper, but I read the 'Story of gas in Ireland' article differently. Here is the relevant paragraph:

"Parts of the Ambassador licence were sold off and in 1971 one of the exploration wells belonging to Marathon struck gas 27 miles off the old head of Kinsale in Co Cork. This was a significant discovery with a reserve valued at £6 billion at mid-1980s prices. The Kinsale gas resource effectively transformed the gas infrastructure in Ireland."

I interpret that as the original discovery in 1971 off the Old Head of Kinsale by Marathon, of what became the Kinsale field, and this being valued at $6Bn, not the 1985 Marathon find on what is now Ram Head. Ram Head & Kinsale Head are coastal features about 60km apart. Whichever, the gas price has surely gone up by a lot more than the rate of inflation by then.

Some Kinsale history:
https://web.archive.org/web/20120906021456/http://www.kinsaleenergy.ie/about-us/history.php (old archive, some links don't work)

https://web.archive.org/web/20090904060414/http://www.bordgais.ie/corporate/index.jsp?1nID=93&2nID=97&3nID=353&nID=363

and info on Ram Head:
https://www.offshore-mag.com/field-development/article/16790981/predator-states-case-for-ram-head-subseashore-project-offshore-ireland

Nici/HM/Sefton. Agreed, I also follow the high concentration strategy. I'll let you know if it works this time next year!

My interpretation of Ben's tweet today is that the Dalai Lama has bought up all the remaining free float, so there is nothing left to trade. No?

Yes, my clock is a day out as well, but in the opposite direction to Freethinker's

We are soon going to get a single comprehensive update on the results of the seismic/MSSI/AGG/ERT, drill contract, drilling on prospects old & new, and how it will be financed. How do I know?

https://www.cainer.com/daily-horoscope/

"With the sky growing dark as it prepares to host the first of April's two New Moons, the cosmic mood suggests a smouldering period of introspection. Yet, as we wait in the darkness for the cosmic spark to bring life, there's a sense of anticipation in the air. Here comes the energy to create positive change and exciting new growth."

New moon is 1st April at 7.24am London time, next one is 30th April 9.28pm. Of course, don't trust my dubious sources - find your own.

The holes should be straightforward (famous last words!) - 75m Kalahari cover, after that 300m or so hard rock without the risk of soft sediments that complicated things on the KSZ. So 2 weeks for each of 6 holes of 400m takes us to early/mid-July for the end of the Ditau drilling campaign, by then the KSZ targets should have been optimised. As for results? We will know as soon as the first hard rock core comes up if KAV has hit carbonatite - it is very distinctive visually. As for REE or Nb content, I am sure we will have to wait for assays - remember what Ben said in the Stockbox interview this week - they want to be absolutely certain of results before it goes out as an RNS. Although this can cause delays that some here obviously find irritating, I think it is a sound policy.

I think the order of announcements will be: Drill spud - mid April. Carbonatite identified (hopefully), with possible reference to visually identifiable minerals - end April. Other intrusions identified as they go. Completion of Ditau drilling - mid June to mid July depending on number & depth of drillholes. Assays - I have no idea, we are still waiting for the KSZ results from almost 9 months ago, don't know what is going on there.

I am sure if they find something particularly interesting, they will amend the plan accordingly - again, I think this flexibility is appropriate, although I expect some here may not recognise that KAV are acting in their (investor's) best interests.

RNS's from 4th Jan 2021 & 2nd July 2021 give details of work that KAV is conducting at Ditau before drilling.

Of course there's nothing solid - it's gas & oil, for heaven's sake.

... should have added that Jeremy Brett was involved in that previous REE work at Ditau.

StanAccy: You said "this is virgin territory in terms of searching for metals with no previous explorers work to consider." Were you not aware that Falconbridge found REEs & Niobium in carbonatites in the same cluster?

All very well doing sums assuming a He price of $500/mmcft, but this is an extremely opaque market. You aren't going to be paying the same per kilo for a whole farm full of potatoes as for a bag of nicely washed ones at Waitrose. Even bigger difference if the farm is miles from anywhere in the middle of Africa. We will only have an idea of the actual wellhead price when we start to see cash and volume sales figures from some of the current listed explorers, once they have turned into producers. Even these will not be representative of what HE1 is likely to sell at, since these will be sales in North America. HE1's margins will still be very high, but I think some people do not understand the likely market pricing structure.

Maybe I'm reading too much into this:

"the larger geophysical targets at Ditau have a more complicated signature that could be due to magmatic layered intrusive bodies." - oh, like in the Bushveld Complex, one of the largest sources of Pt in the world?

"analysis of the gravity survey results by Kavango's in-house team of geophysicists suggests the i10 target includes a dense underlying body causing a high positive gravity anomaly. The coincidence of the gravity and magnetic anomalies strengthens the Company's view that this target could be prospective for either carbonatite or base/precious metal mineralisation." - oh, like the coincident gravity & magnetic anomalies that you get with IOCGs?

Absolutely correct Craig, you also hire rig & crew by number of holes and metres depth, how are you supposed to negotiate that - with a crystal ball & Mystic Meg?

DM from today's annual results RNS:
"The Company remains in advanced negotiations with a leading global drilling company and is committed to the provision of a rig solution for our 2022 drilling campaign. We have multiple rig options and our Principal Drilling Engineer is currently travelling to perform an in-person assessment of appropriate rigs."

DirtyDozen13. I would not normally post off-topic, but I must pick you up on two things:
1. Talga do not plan to make anodes, but anode materials - big difference. They also do not have a mining licence - this is a big issue that explains their flat share price over the last 12 months - Sweden has not issued any new mining licences for years.
2. You conspiracy theory re the war in Ukraine is based on a proposition that is negated by readily available facts. I have family and friends in Ukraine, including a cousin and her two small girls who were last known as being in Kherson, which is now overrun by Russia. If they are still alive, their whereabouts are currently unknown. Your statement that this is a 'fake war' is deluded and shameful.

I note that during the Guercif Licence 2nd extension period, due to start September 2025, there is an ONHYM requirement to spend at least $50K on evaluating EOR. Whether it is proposed that this should involve CO2 I do not know