Member Info for KeithOz

So if we can't afford to drill them, and don't have competent people, why aren't we selling these prospects or farming them out? Isn't the board paid to do stuff like this?

...and everyone on this board has a right to call you out for what you are and filter you, which is what I have done. I suggest others also filter you, we will soon spot you when you sign up with a new account, it's about time LSE put a stop to this.

Time line.
p5 states that MOU-1 testing will be in Q2 2022. This is further slippage. Sept 20 presentation appendix showed February to March, December update said as early as possible in 2022. Bearing in mind that Ramadan takes up all of April, from my experience in Morocco this can seriously slow things down and complicate matters, so my guess is that MOU-1 test will now be May and June.
Volumetrics
I expected a larger volume of contingent resources, as also did many others on this board over the last couple of weeks. The new CPR mentions in several places that the MOU-4 fan and the Anchois fan are stratigraphically analogous . It would seem that GIIP has been estimated by using the MOU-4 area, multiplied by factors derived from Anchois. This is both positive and negative. The big negative is that the previous Guercif CPR used a gas expansion factor of 300, the new (Anchois) GEF is 140, giving less than half the volume of gas for MOU-4 (p.27). The net pay is assumed to be 65 feet, again based on Anchois (p.27 again) - I was expecting more, considering the potential thickness indicated by MOU-4 seismic data.
On the positive side, on p.25 the work by Chin & Wallace (2020) on Anchois-1 is mentioned, and used to project volumetrics at MOU-4. Notably, they found porosity of 25% and permeability > 1 Darcy. 66% gas charge is assumed. Recalling GRH's famous equation of charge x porosity x permeability, this looks highly positive.

I would agree with numerous other contributors today that MOU-4 and in particular MOU-NE are worth a lot of money, and obviously the closer to development the greater their value. Unfortunately, it would also seem that potential funders want to see some gas flow before investing, to PG's obvious frustration. Personally I would prefer some minor dilution by way of a capital raise now, with the promise of a lot of gas & oil that remains 100% PRD, rather than give away half (or all) in some kind of buyout. Imo PD needs to come off the fence and make a decision.

This is beyond a joke. If you look at their 'trend line' chart, you realise that they have mixed up Pounds with Pence. The whole thing is just a theoretical projection, which they have then accidentally multiplied by 100 to come up with their target price. Beyond belief that such nonsense can drive up a share price by 25% in a day.

Not much point commenting on the numbers themselves, but to me these are the important bits:

"the CPR has moved the pre-drill Prospective Resources to Contingent Resources" and

"MOU-1 confirmed for the first time a working hydrocarbon system in the Guercif Basin for thermogenic dry gas originating from a much deeper source interval. It defined a new gas province in Guercif and de-risked multiple gas prospects over an area of at least 200 km² to be followed up in the future. The immediate focus is on appraising and developing the MOU-4 Appraisal Project. The Anchois area is a proven offshore extension of the Rharb Basin and with MOU-1 Guercif is now proven to be the eastern onshore extension of the Rharb Basin. Together this re-emerging gas province is a continuous geological unit extending over 250 kms. from west to east and beginning to generate substantive gas discoveries much larger than any encountered to date in the onshore Rharb Basin." and

" In addition to the Tertiary gas, which is the Company's near-term focus, multiple deeper Jurassic oil and gas prospective leads have been identified for future evaluation and drilling. The location for one of these features, "MOU-NE", is included in the Company's Environmental Impact Assessment for its currently scheduled drilling programme for the MOU-4 Appraisal Project" and of course...

" In order to create greater financial substance a reversal into an entity wanting exposure to the Guercif opportunity should not be discounted as a future option. Management and the largest individual shareholder would be very supportive of such a move if the value proposition was sufficiently attractive for shareholders"

Coxo - I don't normally comment on the share price, at least not until it goes above £1, but this is incorrect information. Those delayed notifications were all sell orders. I had a large buy order with 5.9p limit unfilled all day. Total buys for the day were less than 300K, it's very difficult to buy any quantity above the NMS, unless you are prepared to pay well above the ask.

C & C - don't think this is particularly relevant. While Au & PGEs are all transition metals with similar molecular weights and are often found together, closeness in the Periodic Table does not necessarily relate to co-mineralisation - for example, Lead & Zinc are usually found together, but Zn is a transition metal with a mw of 30, while Pb is an 'other metal' with mw of 82. Even more extreme, Lithium & Tin pegmatites are relatively common, Li is an 'alkaline metal' with a mw of just 3, Sn is an 'other metal' with a mw of 50.
You can stuff your gold, I'm after the PGE Rhodium at $US 17,650 / oz.

FG re. diamonds - nice idea, but no, diamonds only occur in a very specific geological setting (kimberlite pipes). The group of circular anomalies at Ditau were originally believed to be kimberlites, were drilled by Debswana (I think), and found not to be so - KAV's conclusion is that the only other explanation for such a grouping of circular anomalies is likely to be carbonatites.

Diamond drill bit refers to the industrial diamonds that coat the cutting edge, enabling it to cut through anything softer, which of course is everything else. I have diamond drill bits and a diamond saw in my tool box - unfortunately not worth much!

Good guess by BCB that Mindea was the source of MM's purchase. I assumed that one or more of the contractors was the counterparty, since there were no other large holders likely to sell. This would make very good sense - Mindea get cash in hand for the time they have already spent, remember that the drill campaign has taken a lot longer than expected, so that hasn't exactly helped Mindea's cash flow. Plus they renew the deal with a further slug of shares for future drilling, probably an enhanced deal covering two rigs - one for KSZ/Ditau, one for KCB. This would also explain why in yesterday's Stockbox interview Ben deliberately avoided mention of drilling at the KCB, and also provided minimal information on plans for 2002, which was supposed to be the subject of the interview, and may also explain the delay. I expect that there will be an RNS in the next week or so, as soon as agreement with Mindea is finalised.Everybody wins: 1. MM gets 5% of the company. 2. KAV gets increased drilling at low cost. 3. KAV meets POW JV requirement to start work on KCB4. Mindea get immediate cash to continue/accelerate their operations5. Mindea get a whole bunch of new shares likely to rocket in value, so maintaining their speculative position6. We shareholders get minor dilution for major uptick in activity.I'm smiling.

CaneToad: Translation - "We found a few spots of mineralisation, similar to those found near the old mineral deposit which is now mined out. That may or may not indicate that there is another deposit nearby, and even if there is, we have no idea if it would be commercial. We also did some geological mapping of bedrock which is covered by mud. We will now piece this info together and decide whether or not it is worthwhile continuing at Enonkoski." Conclusion - disappointing.

D220 - I was a little puzzled, as well. 6th January trading range was 5.2 or 5.3 bid, 5.4 offer. The TR-1 states "purchase outside a trading venue". For every buyer there has to be a seller - so who was prepared to offload 2.2% of the company at almost a 20% discount? Just weeks before a crucial announcement?

Leonidas - absolutely correct. Mitchell were engaged to drill 3 or 4 prospects that had been previously identified from the old seismic data, targeting three different trap styles. The new seismic undertaken last year was supposed to better define those targets, but unexpectedly showed Tai to be far more prospective than previously thought, hence the last minute change of plan. I hope they have learnt a lot of lessons from last year, and am quite relaxed about them taking an extra couple of months and getting it right, rather than rushing things and screwing it up for another year. They have additional O & G expertise on the team this time, which makes success more likely.

Persian trader: You express surprise and/or dismay that no drill has yet been booked. Before you can book a drill, you need to know at the very least how many prospects you are going to drill and how deep they are, especially if you are paying per foot. If you are negotiating with a driller to do a part share/part cash deal, the driller will of course want to do their own independent appraisal of the seismic. You must be aware that the seismic has yet to be completed, and the data will then require analysis and interpretation, which could be two months away.
That should be obvious, especially to you who seems to claim inside knowledge of the O & G industry and personal access to the top people, even if Tullow is just about the last company I would approach for anything, judging by their abysmal record over the last few years. So why ask the question, unless you are hoping to mislead other readers into thinking HE1's management are not competent?

WARNING!! The www.greenground.it link tries to open up dodgy malware at the same time as the article. If you want to read it, this clean link was posted by TerryN last month: https://www.wired.com/story/green-helium-mining/

3. Molopo Farms (hey, I got the spelling right)

The Molopo Farms Complex Project ("MFC Project") is owned by Kalahari Key Mineral Exploration Pty Ltd ("Kalahari Key") with a 60% interest and Power Metal with a 40% interest. Power Metal earned-in to its 40% interest by spending US$500,000 on exploration work, including the maiden drill programme completed earlier this year.
The maiden drill programme provided proof of concept of the geological model and also identified significant nickel sulphides in the drill core with assays up to 1.7% nickel and 0.55g/t platinum 1. This was a very positive outcome for the first drill programme on this district scale exploration project.
In order to simplify the project ownership structure and streamline ground operations in Botswana, an option agreement was signed with Kavango Resources plc to acquire Kalahari Key and its 60% interest in the MFC Project.
In lieu of an option fee and as part of its due diligence, Kavango is undertaking an agreed exploration work programme on the MFC project, the results of which will be made available to Power Metal in due course.
If Kavango exercises its option Power Metal will sell its circa 21% interest in Kalahari Key in exchange for Kavango shares and warrants. Power Metal will retain and intends to maintain its 40% interest in the MFC project for the foreseeable future.
Further details in respect of the Kavango option are in the Company's announcement on 26/11/2021 as linked below:
https://www.londonstockexchange.com/news-article/POW/kavango-option-kalahari-key-botswana/15226717

Company View:
Proof of the geological model and the identification of nickel sulphides in the inaugural three drill hole programme was an extremely positive initial outcome for the MFC Project.
It became evident however, that progress was slower than ideal particularly given the positive results of maiden drilling programme. As a result, action was needed to simplify the project ownership structure in order to accelerate work progression and streamline ongoing operations.
The Kavango option agreement was an important step in this regard. We look forward to the results of the option work programme which should provide valuable additional data to help plan the next phase of drilling to follow up on the encouraging results achieved thus far.

Interesting to see things from POW's perspective:

1. KCB

The South Ghanzi Project is held within Kanye Resources Pty Limited, a joint venture vehicle 50% held by Power Metal and 50% by partners Kavango Resources plc (LON:KAV) who are the operators of the project.
Drill target refinement continues at the South Ghanzi Project, together with initial exploration at the South Ghanzi Extension licences and the Mamuno licences acquired more recently in August 2021 2. Together, the ground footprint in the Kalahari Copper Belt ("KCB Project") totals 4,257km2.
Approval of the Environmental Management Plan ("EMP") for South Ghanzi was secured in October 2021 clearing the last key administrative hurdle and enabling drilling to be undertaken subject to the ongoing target refinement.
The joint venture partners continue to consider the planned IPO of Kanye Resources (through a UK listing company, Kanye Resources plc) and an update in this regard will be provided as soon as practicable.
Company View:
Approval of the EMP was a major step forward for the KCB Project. The KCB holds district scale potential and Power Metal is working with Kavango to ensure the initial drill holes are optimally cited to gather the best geological data and maximise the chance of discovery.
The joint venture partners anticipate a material budget will be applied to drilling at the KCB Project and therefore appropriate investment is being made in preparatory measures to optimise the vectoring of drill targets.

2. Ditau.

The Ditau Camp Project ("Ditau") is also held within the Kanye Resources joint venture as outlined above.
Exploration work targeting Rare Earth Elements ("REE") and base metals has identified a 2.5km by 2.8km target area at prospect I10 where an Audio-frequency Magnetotellurics ("AMT") geophysical resistivity anomaly, coincides with a gravity high anomaly. The latest Ditau exploration findings were announced to the market in October 2021 and may be viewed in the link below:
https://www.londonstockexchange.com/news-article/POW/ditau-project-botswana-exploration-update/15184669
Further exploration work is continuing on the ground and the next material step, exploration drilling, is expected to commence in the first quarter of 2022.
Company View:
The Ditau Camp Project, soon to be the target of exploration drilling, has delivered some extremely positive findings to date, particularly with the large anomaly now identified at prospect I10.
The expansion of target commodities from REEs to now include base metals demonstrates the prospectivity Ditau holds and we are very eager for drilling to commence as soon as possible.

Didn't mean 1% Pd, that would be worth an absolute fortune! Should have been 1g/t Pd. Sorry.

Yes Ni minerals (most often pentlandite) can usually be visually detected in drill core. There was mention of a 'trace' of Ni, but usually you would get Ni as well as Cu in ultramafic-derived orebodies, but so far we have not drilled massive sulphides. Remember that in most CuNiPGE orebodies, half the economic value comes from the PGE content. This is usually finely disseminated, and 1% Pd, for example, would be almost impossible to confirm visually - hence the upcoming fire assays, which is the most reliable Au/PGE test.

...and let's not forget that all that gas is squashed by the pressure of the overlying rock - SRK was using a gas expansion factor of 300 for MOU, so at STP that's 1620 Nelson's Columns, or 285 Shards (which is 310m).

Oh and by the way QS, a micro stock is based on market capitalisation, not share price. Just shows how much you (don't) know about investing.