Member Info for lsetown

The CAPEX needed to get to production is similar to our current market cap. That is rare for a miner at this stage and the possible revenues from production are large.

If the drills are successful, I'd hate it if shareholders were then needlessly diluted. I'd like the company to use a Rights Issue or Open Offer so that we all have the chance to invest and benefit ahead of others!

Lol - it's liquefied. But maybe you knew that.

They don't need to raise fresh equity as far as I can see. The only loan they have is the government corona support and that has low interest and payments can be spread out. They said they had £13m cash (£6m net) at year end. Okay they may have burned through some of that in the latest lockdown but I don't see why they would need to raise equity now. The main question is can the business get back to near normal. I don't see why not.

Thanks Marunam2 - yes, I don't make that out to be very expensive.

As far as I understand it, JA thought that a 'Royalty' could be part of the farm-out deal. It was mentioned that it was to amend for back costs put into Cameroon already. Have a look at this RNS:

https://www.lse.co.uk/rns/TRP/cameroon-farm-out-update-cu5piadj6sukc9t.html

Hopefully 37.5% of 10% of the farmout isn't much, but like others I am starting to wonder where we are going with this.

JA's Pegasus already gets a handsome 12% per annum interest and let's face it JA could easily raise the cash for full repayment if he wanted.

I don't know about other brokers but HL let me trade immediately after a sale which is very useful. Only cash withdrawals are time limited.

Edit. Thanks you three!!

Great replies - thanks you two.

Yes, overnight I was kept awake thinking about the seeps. I guess Helium seeping doesn't mean it is coming from the trapped reservoir as of course that is trapped. It could be overflowing from underneath the trapped reservoir or just coming from the basement kitchen. So it doesn't mean there is no trapped Helium.

Will have a read of the long document!

The numbers here are phenomenal - and they are also long lasting unlike the typical 8 or 20 year mine.

There must also be scope to double production if the Helium is there. I guess it would then be around 10% of global production, but that may not be bad if this is indeed the largest Helium reservoir so far found.

One thing worries me though - Helium is light and will always go to the top of a gas. Seeps will therefore naturally have high concentrations of Helium; if Helium exists in the reservoir.

I see other companies are doing similar things successfully - albeit on a smaller scale than Helium One and that is comforting.

Does anyone know about Helium reservoirs and their seeps?

There isn't much at all on the Helium One website about this.

Has Rockhopper committed to that though? Have we signed?

I was hoping that we still have the choice to revert to Harbour 60%:40% Rockhopper?

Regardless of failed business acumen, I agree from where we are now, something would be much better than nothing!

I doubt the BOD would want their 50% diluted!

You are kind of removed from it, but there could be if the provider has bought the underlying share because of your actions.

There can be if the provider has hedged in the market against the bet.

Marunam2, you will get a reply I think. Sam is much more responsive than when they had the PR company taking emails.

As far as I understand it the wind-down costs wouldn't get into the several millions. Do ask them - you may be surprised.

I also don't think it is that unlikely that Harbour either pull-out altogether or are simply not given a licence renewal from FIG because they won't go for FID.

If that happens (and assuming FIG doesn't throw us out too), we may be able to start again with other partners.

I personally think that FIG should make it clear to Harbour that they need to commit soon or their licence will not be renewed.

I'm led to believe that the wind down costs are much much lower than those figures. Ask the company.

The 'Carry' is changed to a loan with the Navitas deal - but is yet to be signed.

Looking at your posts I see it is the low volumes you meant. I guess the BOD with 50% take a lot out of circulation - a family business.

Well I guess we can leave a sell order to be picked up or just take the (hopefully eventual) dividends.

Did you mean 'buy' any shares ?

Or are you saying the share trade volume is low?

Glad you are back - it is still moving - there must be an announcement soon.

Franco Manca is the best I reckon - the Real Greek is good - to be honest I only have been to one and it was mid-afternoon so I guess they weren't at their best. The starters were great but the main course meat was a bit dry. The lager (Alpha-Omega?) was really good though!