Member Info for Scott22

Trading at US 19 cents today on US OTC. That is about 14.40 pence. Only 62,500 shares but that is more than usual and there were multiple trades at 19 cents. Maybe starting to catch a little attention.

Interview was from their trip to New York a few weeks ago, done because they started trading OTC in US. I started the buying in US but a few more have joined in. It was good exposure for target group who trade on OTC in US and follow this podcast. Can't complain about no new items in an old interview. Sean is working hard telling the story. It is a good story.

By the way, TAJ has used the phase "all important" for these flow tests for many months. There is nothing wrong with that. It is exciting to be at that point. It is not certain what they will find, but I am hoping for the best, and wish the best for all shareholders in Pulsar.

And the company applied for those licenses even before there were regulations for how to do that (their first well was drilled with a mineral license permit because there were no permits for gas wells in Minnesota - because there is no natural gas here). The company (Thomas in particular) has done a magnificent job with local and state authorities and elected officials. They should be first in any queue for licenses.

Thanks for clarification. I likely was misleading about the flow rates. They were pretty good but not great. And with fractured basement it is a bit unclear at what rate it could be produced at to get stable rates, or what kind of a decline they might have. So now they have more than doubled the pay zone of the first well, and they have added a new well. Plus the pressure may be higher at greater depth. They have four times (or more) the pay zone of the first test. And the testing program is much more intense and is designed to answer many questions about the reservoir. And yes I love the Pulsar investment thesis. I bought as soon as it went public, I have added more, I have never sold a share. I am happy about the recent step out well, I am excited about this in depth testing and that we will get a lot of information, very soon. My point is that this flow and pressure testing is all important. If they have a highly commercial project there is likely a path forward. If there is more work to do, there will be challenges to get the money to do that. Hopefully they can do it without too much dilution of current shareholders. That scenario is true for most micro cap pre-production resource companies. It is one of the reasons that you have to be careful investing in this space. Finding a globally important helium resource in Minnesota would be truly awesome, and very rewarding to investors. They are right on the edge of that. And could prove it with these tests.

They have extreme high grade helium for sure. The size of the resource is still not clear, partly because of the nature of the reservoir (fractured basement play). Do they have a globally important resource as they they might have found? The testing of the first well last year was okay but flow rates were modest and while it flow for many days, reservoir was not fully tested. This current program is all important. The first well (Jetstream1) was extended deeper into the pay zone and is being flow tested now. A second step out well (Jetstream2) was drilled. That will be flow tested immediately after the first well. The two wells are very close and they will then do a series of pressure draw down and build up tests. That may involve longer flow tests at different rates and also open hole draw down. Among other things they will find out if the two wells (very close together) communicate. They will learn a lot about the reservoir. The they will update the resource and maybe do PEA (preliminary economic assessment) . If the project is proven highly commercial, they will move ahead with a plan to advance to production, likely with debt financing which should be possible if the resource is big enough. The shares will go up. However if size of resource and issue of commerciality are still unclear after this current testing, they do have a potential problem. They are capital starved and would have to raise more money at a time when share price is depressed. The shares would likely go down. So the current testing program that they are in middle of, is all important. By end of May the short and intermediate prospects for Pulsar should be much clearer. If they have strong evidence of a globally important helium resource, it could get very fun.

It is the railroad ticket OFF AIM. They had to do that to get to ASX where Australian mining companies are better understood and are valued more accurately . In general ASX listed miners get rewarded for hitting milestones. What a concept.

Just watch how this plays out. The "new Greatland" company really only started on December 4, 2024. Before that they had held on to 30% of their prized Haveiron project and had a right of first refusal if Newcrest (who owned 70% and was developing it to feed their huge Telfer processing plant as the Telfer mine was winding down). On December 4 the whole thing flipped in a remarkable way.

The reconfigured Greatland as of that date had gotten back the Havieron project (a jewel), but also improbably now owned all of the Telfer mine and mill. And was operating everything. And had zero debt and cash in the back. Newmont (who had purchased Newcrest got 20% of Greatland shares. And cash (from a prior Greatland raise) and some imputed cash ($100 million over 5 years linked to gold price). What has happened since? Successful operations. Huge free cash flow! Major additions to reserves and mine life with expanded exploration at Telfer. Ability to pay off $100 million to Newmount in months not years. The story is 4 months old. There could be books written about this.

Muted response to the upside. But PANR can take a quick 50% hit with only one of six intervals on one test well is negative. It is all to maximize trading profits.

I will be SO happy when Gretaland gets an ASX listing. That will happen very soon as detailed in the press release. I will certainly vote for that. I can't admit anyone would be against adding a more stable and fair platform for the shares..

Or is it, PLENTY TO PRAY FOR.

I actually think it will all come good. You test the well to learn a lot more about the reservoir of various pay zones. They are learning.

For those who usually look at it that way. Either way is a pretty crazy over the top report. With gear drilling results as well and news on increase in resource yet this month. Wow.

REALIZED PRICE - US $2880 per ounce

AISC - US $1343

REVENUES - US $289 million

FREE CASH FLOW US $160 million

CASH BALANCE END OF Q4 2024 - US $90 million

CASH BALANCE END OF Q1 202 - US $250 million

No need to be privvy to the upcoming quarterly results. They have produced 90k ounces at Us 2850. That is low end of the range and is US $256 M. A year ago even though they had discovered Haverion they had given 70% of it to Newcrest to move it forward. Now they own 100% of Haverion. And by the way they own Telfer including the third largest processing plant in Australia with two trains running flat out producing gold as prices are at all time high. Nothing short of a miraculous transformation. All because Newmount bought Newcrest and got shareholder pressure to divest some of their assets. Miracle. No way would I have even believed this was possible one year ago.

The PE is meaningless at this point. They had 27 days of production in 2024. They had 90 days of production in Q1 2025.

Despite the 27 days of production in 4th quarter, no one really seems to get that GGP had a full quarter of production on two trains in Q1 and the Q1 report (weeks away) will show likely production of 90-110 ounces. Revenues might be US $280-300million. Profits will be somewhere around $110 million plus $50 million of the total $100 million in contingent payments they owe to Newmount (over 5 years) will be paid in one quarter. Shawn Day has already told the market (post quarter end) that production was smooth in Q1 and while they will not beat the projected estimates by 33% (as the did in the 27 day month of December) they should be above projections. That should put GGP production for Q1 in neighborhood of 100,000 ounces. Don't you all think that numbers like this (and a billion dollar run rate) will boost GGP comfortably to producer status and that GGP will not be seen solely as a developer of a great project that will come on line by 2028. It is the producers that are being rewarded for current gold prices. And in a few weeks, perception of GGP as producer gets very much more solid.

This is just AIM period. Pulsar was listed in Canada and US and doing pretty well with little drama. Since dual listing on AIM Pulsar has had the usual AIM experience. Push push push it down. Sure it will respond to any really good news from current flow testing, but then the ones who will do best are those that pushed it down. I wanted them to steer clear of AIM but they were able to raise a little money in London. And now they might be able to raise more if needed, at a lower price. The AIM way.

Price was fine, 14.36 US cents, equivalent to 11.08 pence. After the Schwab order filled, I was able to place a electronic limit trade on Fidelity platform, not filled yet but accepted for trade for first time because there was a "last trade" on record.

There is some interest in US based on "other investments" chatter on Discord TXP site. I also know of several US investors who want to buy but do not want to buy directly on AIM because of cost and need to do it through broker. At the moment I may be one of only a few in US who have accumulated a position and are interested in building it.

I managed to get Schwab to turn on electronic trading of EPMLF on their platform. I was able to buy 30,000 shares without difficulty. There is still a $50 foreign trading fee but the shares were transacted in $US on their platform as a limit order in $US. (I think the first trade since they listed on US OTC). I would like to see more trading on US OTC to get some reasonable volume and insure liquidity. Now that I have a last trade price, I am going to see if I can place a trade on Fidelity platform.

EPMLF has not really traded in US yet. Zero trades. (millions have traded on AIM last few days). And both Schwab and Fidelity will not let one trade EPMLF on their electronic systems until they get a last price. Whoever the specialist is, they have to initiate a trade or two in US. Currently most US investors can only buy on AIM which means for most US investors a $100 fee (only $82 on Fidelity) and also some AIM add-ons. I have tried to buy some every day on OTC but I cannot,

If they make $20 million US dollars a year, then that is earnings of 0.007 cents per share. With a PE of 10 the shares could trade for US$ 0.07 of about 5 pence. That is not huge upside for a stock with this much risk.

Https://s203.q4cdn.com/212931576/files/doc_news/Pulsar-Helium-Announces-Successful-Completion-of-the-Jetstream-2-Appraisal-Well-Topaz-Project-Minnesota-USA-2025.pdf

In this case "all important" is not an exaggeration. Very soon we should (latest in March) have a much better understanding of the scale of the resource and chance of moving ahead quickly to commercial production. If results are good we could have grade, size of resource (the missing piece) and jurisdiction all lined up. Usually that is very good. The fourth piece is ready access to capital which is not present but has more options once the other three pieces are proven (including off-take agreements, debt financing of facilities, various types of partnerships).