Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
There is a second flow test with perhaps an even better chance of success just 2 weeks after this one. I reckon .2 if we have bad news for the first test.
Of course we can get news at any time...... who knows.
I think you have to look at the de risked position. Yes we had a huge rise of fthe .2 low. Does this seem more or less of a risk now? I'm expecting the market cap to be way more than it currently is during EWT. I don't know if/what the dilution and therefore the sp will be to get there. But to me it is massively de risked and to me the SP has fallen because punters don't want to wait and not because the potential has changed. When the waiting is in days they will likely come back IMHO.
Who are these 'Greedy'. Surely people buying shares to try to make a profit is just investing/trading. What's greedy about it?
I got autocorrected to 'Iceland'. Don't want to start anything off about 88E drilling in Iceland.
I think that in all circumstances 'end of the week' can be assumed to be Friday.
I was also thinking why tell us about a delay on Monday this week? They could have waited it out and I appreciate that might have stretched peoples patience but why do that?
Kept some invested here since the initial Iceland drill, waiting it out to EWT and almost forgot about it. Think they really do believe they have something. Very tight ship. It's all to play for IMHO.
The lab results cannot confirm a discovery because they cannot include stuff like flow rate. An independent lab could further confirm that samples contain helium and at what concentrations. So it's not that important today.
LB said they would sent the samples to an independent lab but it wasn't an immediate priority. Didn't confirm when. Explained that the Baker Hughes testing on sight was absolutely to be trusted.
So the best we could really hope for from an independent lab would be confirming what we already know. Reserve estimate end EWT required. All good but it's going to be about Q3.
I expect the BOD of HE1 know what is required before announcing a discovery.
There is plenty of information in the recent RNS's and interviews to cover your questions. The answer is we have to wait.
Really? Some de risking. Small trades. Looks like a holding for news pattern to me.
Very tight ship this one Nobody knows anything outside the company.
Yes because it's you!
Ezhic. I think EWT will likely include artificial lift. Interested in what others think.
Dreaming - I think there are so many parameters that need to be understood that it isnt that simple. With 4.7% helium you could say that the flow rate can be relatively low (to other production scenarios). However it would be great to have a high flow and high helium concentration. I think it's important to note that the flow rate disclosed was the lowest flow rate they observed.
Will they need to drill more wells to get to a commercial volume? How is that funded? Does it pay for itself or do they need to borrow. Will they get a JV to support bringing the find to production? So much to consider. And yet still, the 4.7% helium is what makes this compelling and improves the chances.
Ultimately HE1 will have to explain if they have a commercial find considering the flow/purity/capex/market factors. It's important for me at least to recognise that before the Itumbula drill this was very very high risk and that having found helium it is de risked a great deal. But nothing is certain.
Dreamingforgold. Exactly. All needs to be proven. Roll on the EWT and appraisal.
From what I can tell 'artificial lift' is more or less standard for gas production. How long you can do that for and how much you need to make changes to that over time depends on the resource and geology.
I'm encouraged that the Rukwa region appears to have 1000's square ks of helium rich geology. Every time it has been drilled helium was found.
Darien. A few weeks ago I did some research into Avanti Helium. They had a find similar to ours at the same stage that we are at now. Thy managed to increase flow b c.40x following the path of EWT and appraisal. Now they are close to going into production with 2 wells.
It has taken Avanti about 2 years.
Anyway.... the initial flow rate is not and isnt meant to be a final indicator of the the potential. HE1's 4.7% is far higher than Avanti. The initial flow rate for HE1 is based on just one well with no artificial lift. The resource potential is likely massive.
RJ. Spot on. They will have to do the appraisal well at Itumbula. Whether they see the funding package for EWT and appraisal as one package or go just for EWT first is to be seen but in my mind I want to see an RNS confirming they are going for both in Q3 and tell us how they fund it - and if it's a raise they tell us it's done.
They must be quite confident about what they will be telling us about the reserve estimate for Itumbula but I don't like going back to Tai3 until they have proven the resource at Itumbula.
Crusty. I agree it feels like a risk to hire the rig out but then if I think about the risk of it not being used and left idle. Drilling is the only way to really understand the condition of the rig so then it might not be a bad thing at all especially if hiring it out more than covers its upkeep.
Crusty. Nobles funding is in AUS dollars. Its more like £8m
Dreamingforgold - where did you get 14mn from?
I believe they made the terms 'hot stacked' up. Basically they mean it's ready to drill when they need it or someone else pays for it.