Member Info for Reserved

Georgina RNS:

"Following the successful meeting in Alice Springs on 11 September 2024, the Company has been advised by its Indigenous Relations Consultant that the CLC ratification of the Traditional Owners approval of the granting process for the Mt Winter EP(A)155 project is anticipated to complete in December 2024. Georgina continues to reprocess and remap the 2D seismic data in line with its farm-in obligations."

Well worth listening to. It provided some extra detail to the recent presentation; in particular the value of potential financing (42:15).

In earlier presentations SB had intimated that the EU would announce the selection of the Strategic Projects by the end of 2024; SB advised that the date had been moved to March 2025 because of the number of projects submitted. He is confident that they will receive the Strategic Project status (he would say that of course).

I will continue to hold and accept the possibility of a placing to provide short term finance because the prospect of a long term profitable investment outweighs the current potential negativity.

Interview with OF.

https://www.youtube.com/watch?v=gVnb55A_hcU

Starts at 46:18

As a GEX shareholder, I would obviously prefer to see a higher share price. When evaluating performance in any field, I believe it is worthwhile looking at comparisons. Since I am a holder of HEX shares, I have reviewed the performance of the share price.

The HEX closing price on Friday was 23.0p, a price that was first achieved on 05/06/24; drilling at Clink1 did not commence until 12/07/24. During the intervening period the price has fluctuated between a minimum of 16.75p and a maximum of 28.0p. The lack of a sustained / stable growth in the share price is occurring despite the identification of He and H at the Clink1 well, where an EWT has commenced, and the commencement of drilling at Rudyard, an area known to host He.

GEX is currently progressing the pre-drilling activities and it is therefore no surprise to me that their share price has been unable to maintain a higher level. There is obviously an exploration risk, but the potential returns are significant. Even if a placing is required in the future, the effect of the dilution is, in my opinion, irrelevant relative to the potential reward. Each investor must therefore evaluate the risks relative to the potential reward.

I have decided to vent my frustration by splitting some logs from a 20m ash tree that blew down in the recent windy weather. I may be some time.

Correction:

Mumbo_Jumbo - If you are referring to Hussar, funding for the drilling has to be in place before they are able to lodge the application for the permit.

I am viewing the fact that the price has gone up this morning as a positive endorsement of OBI. Assuming (a dangerous word) all goes well with the placing, I believe there is light at the end of the tunnel.

In terms of competition, I am not aware of any potential challengers to the OBI product, especially since Destiny with their XF73 have disappeared off the radar.

Mumbo_Jumbo - If you are referring to Hussar, funding for the drilling to be in place before they are able to lodge the application for the permit.

Whilst there will be an element of uncertainty regarding the amount OBI can raise, I believe this helps provides a clear path to commercialisation. My investment decision had already factored in the need for a raise of £10.5m so I will continue to hold.

Oldbutnowisa - I agree that this is getting frustrating, especially when GM stated in an interview on 24/05/24 that they have their own sonic rig ready to go and had rented an air core rig. This was followed up on 03/07/24 by GM advising that they were still waiting for relevant paperwork, which was expected "this week".

Managing expectations is crucial in any business together with effective, relevant and reliable communication.

I recently increased my holding in the expectation that progress would be made re drilling. An update would be greatly appreciated.

Https://www.londonstockexchange.com/news-article/GMET/loi-re-strategic-nevada-tungsten-project/16740965

Https://www.londonstockexchange.com/news-article/ARV/lulu-creek-drilling-commences/16741014

Https://www.londonstockexchange.com/news-article/MSMN/corporate-presentation/16734202

Pensioninvestor - what are your thoughts?

My preference is clarity on the funding of the phase 3 trial. I am comfortable with my potential return after factoring in dilution to raise the required funds.

Hardolestation and Chole89 - thanks for the further information. It's nice to have a civilised discussion.

I am unable to recall whether the GEX website ever referred to EPA155; if it has been updated to EP155, I would see it as an indication of positive progress. However, I would have expected an official announcement advising that the CLC had provided their written approval so the application would then be considered by the Minister.

Time will reveal all. (I have also posted this message on the MSMN page)

I am unable to recall whether the GEX website ever referred to EPA155; if it has been updated to EP155, I would see it as an indication of positive progress. However, I would have expected an official announcement advising that the CLC had provided their written approval so the application would then be considered by the Minister.

Time will reveal all.

InvestingGoals - FYI the RNS on 17/10/24 updated the resource volumes to Helium 196 BCFG, Hydrogen 218 BCFG and hydrocarbons 2.03 TCFG.

GEX are also looking at other well re-entry options:

"As announced on 3rd October 2024, the Company has completed a review of potential additional well re-entry targets for a programme following Hussar and Mt Winter drilling. Georgina has reached out to various parties to determine interest in either a farmout or direct interest."

HawaiifiveO - More activity today compared to the recent past. I would like to hear some positive news about non-dilutive funding in the forthcoming presentation, but I will settle for positive updates on the resource figures based on the phase 3 drilling campaign.

Do you know if the drilling campaign includes the increased licence area?

Rebs438 - REACH

https://www.londonstockexchange.com/news-article/OBD/cirt-receives-clinical-approval-from-nys-clep/16726956