RE: Hydrogen revolution7 Jul 2021 17:38
Downtoearth.
Back after doing the shopping for the England game tonight.
What I was trying to establish is what is actually being done to obtain financing to progress the dewatering and getting to commercial flow gas?
I know TG is wanting the Bots Govt to provide it but how long is he prepared to wait to get their approval? Way to long in my opinion.
Going back to when they stalled, capped or whatever else Tlou did after finding out the dewatering was going to take longer than expected with just the 3 wells, would it have not made sense to go to the Bots Govt and say ‘I need the financing and I need it now to drill more wells to dewater at a faster rate than we can currently go if you as a country want to succeed in the CBM industry.’
If the Bots Govt then said ‘we require proof that CBM works before supplying finance or said we’re not providing financing, why didn’t TG just do a fund raise through dilution? Then he could have drilled more wells, dewatered faster, got the gas flows, get the financing if it was on offer and crack on and the share price would have risen into the bargain for another fund raise for the next stage if finance wasn’t on offer.
TG did a fund raise for poles and wires 5 months ago so why not when he REALLY needed to to progress at a critical stage?
It doesn’t make sense to me. I know covid has played it’s part but, like I’ve said, Tanzania are just up the road and Helium One have been very busy since JANUARY.
Something is not adding up and I think it is about time TG put out a RNS telling all the share holders what exactly is going on, wether it is good or bad.