Member Info for mortalone

The quantification of the probability is just a mathematical exercise which may be influenced by whatever evidence the geologists have, but whatever the stated CoS is, that ultimately, in my view, becomes irrelevant because the goods are either there or they are not. I roll the dice wanting a six, as long as a six comes in do I care that my odds were 16.67% of doing that? For me, what the odds do influence is how much risk capital I put in so that if the dice comes up a five and not a six it is not the end of the world - Of course, being human I am expecting six 😉

The chance of commercial success has nothing to do with audit going concern sign off. Going concern is about the ability of the company to settle it's liabilities as they fall due - usually over the following 12 months from sign off. The going concern sign off should not in any way be confused the investment risk being taken by shareholders which is , amongst other things, whether the drill at Hussar or Mt Winter strike helium in commercial quantities or not.

If the drills come up with the goods we will all be very happy bunnies but for the sake of trying to keep some of points in check - the broker notes were also before recent share issues so that needs to be factored in as we do now have 220m shares in issue + some warrants to come v 165m. As Ifiknew correctly states - it's about MCAP ( share price simply being a function of that).

A Bomb "if us$1 billion of resource is extracted every year" Key word being IF - let alone guestimating what that translates into for GEX profit.

Expert - the full amount of that liability - not all debt.

Xpert to be clear the company is not debt free but it has settled/converted part of its liabilities.

We can only guess what the detail of the offtake agreement is but I would be disappointed if 100% of revenue is for H until they are at break even as they have not funded all costs to get to that point. Nevertheless could well understand if the split is staggered up to that break even point in favour of H getting funds back as long as that "de risking" for them is also reflected in the post break even split. Who is better in the art of the deal ?

I thought there was mention that some GEX upfront costs may be "recovered" as part of the funding deal although there seems no evidence of that happening as of yet, nor whether there was a successful out come of sharing the infrastructure costs with other parties looking to use them.

Regardless - it's exciting times as GEX progresses to spud.

The period of assessment for the cash flow needs was to Oct 2027 plus there has been the warrant exercise too.

Dealer - not sure where you get your 12 months from. It's a 4 month window from the accounting date for the accounts to be prepared in the correct format and to be audited.

Anyone think it might be Mojave Investments /Brinkerhoff family office working with Harlequin?

Is the new pin up 😊

Thanks SH - was hoping for a CRN or something third party ( i.e. not their own website).

Can anyone post a link that verifies the Cayman Islands Harlequin?

Art - isn't it in the "could be out of proportion" - what if the CPE assets acquired also hold a lot of value.

What if Hussar does not deliver ?

That is referred to in the circular - see page 12 item 5 - financing

It is not unusual for charities to be the catalyst with the NHS - their initial funding gets the NHS using the kit etc which then gets embedded in the system and so then gets ongoing NHS funding in future.

Thank you to the Medlock charity - it should make a long term difference to many families

Just to be clear - the extract from the Circular I posted was re working cap cash raise of £2.5m which will be raised as required so not all being issued in one go.

The assets purchase is not via placing but for conisderation in the form of the issue of shares to give them 25% of GEX - as I have indicated earlier the key point is whether the value of 25% of GEX being given for those assets is good value . I think it woud have been useful if the deal specified the issue price of those shares eg GEX will issue the shares at a price of 4p, valuing the assets at £x but whatever the issue price is will not chnage the number being issued only the value at which the investment is carried in the accounts.

Not sure why you expect a 20% discount ? From page 13 of the circular:

RiverFort undertakes to the Company that it shall use all its reasonable endeavours to obtain fair

market value for the Ordinary Shares and not to, save with the prior written consent of the

Company, sell Ordinary Shares: (a) in excess of 20% of the volume of shares traded in that calendar

week; and (b) at a price lower than 10% below the previous trading day's volume weighted average

price

F1 - I'd see it more as I have agreed to buy a house, offer accepted and now in legals to execute contract. I'd agree it's frustrating that the RNS's seem to give fodder to the naysayers honing in on it not yet being signed. I find it interesting how quickly they appear on the RNS being issued to start the negativity. I do welcome both for and against views on BB's so seldom block posters but ultimatly have to make my own judgement on whether a poster is genuine in thier bias.

If the family office behind Harlequin could be named I think that would go a long way to silencing the detractors but anonymity may well be their choice at this juncture. Either proof of funds have been provided as stated or that was a lie. The latter would be a serious matter.

Art123 - but isn't there an flipside to that - we could be acquiring the CTP assets at a bargain price and this also surely diversifies risk - what if proof of concept at Hussar is diddly squat?

The key question seems to be what the value of the CTP assets is - we're paying 25% of GEX share cap for them so if CTP assets worth more than 25% of GEX MCap then win for GEX shareholders - if worth less then win for CTP, if transaction is at a fair value - equilibrium. If it's at fair value or worth more than 25% then current market reaction is buying opportunity - perhaps muddied by the ATM facility - but that seems to be at MV less upto 10% max and RF's fee higher based upon sale prices achieved ( though really depends upon the extent of incentive there) and of course the nedd for GEX to drawdown on that facility.

From the circular

"RiverFort undertakes to the Company that it shall use all its reasonable endeavours to obtain fair market value for the Ordinary Shares and not to, save with the prior written consent of the Company, sell Ordinary Shares: (a) in excess of 20% of the volume of shares traded in that calendar week; and (b) at a price lower than 10% below the previous trading day's volume weighted average price."