Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Lost faith (and a lot of money) in this crap company. They will land some nonsense news on Balcombe to impact the sp and suck in a lot of PIs in here and again leave them staring at their losses.
The only people who have benefitted on here were and will, be traders with quick in and out.
I can't believe some of you old posters are still wasting your time here.
To the newbies, be patience be practical, know the risks and only invests what you can afford to loose. Don't get bullied by the rampers and derampers alike.
There is not doubt in the find here but it is still under the ground. They cannot just suck it out with a straw and start
selling and making money. It needs to be extracted cost effectively. If/when they pull it off, it will be great no doubt.
But over the years, we have seen so many so called massive discoveries in Gas, oil, minerals etc and being blown out of proportion and ultimately company going bust as the costs have spiralled out of control and delays due to unforeseen issues and incompetence of the BOD. Angus is the latest example and a really good one too.
On 26th Jan, the very next day after the RNS of Itumbula West-1 well reaching TD, Cantor Fitzgerald offloaded and reduced their holding from 6.89% to 1.70%. If this was going to be a multi bagger so soon, why would they offload such a large proportion of their hold!
And don't forget this starting in 2025-
Britain has selected a Harland & Wolff-led consortium to build three Royal Navy support ships under a 1.6 billion pound ($1.9 billion) contract.
Production will start in 2025, with all three ships expected to be operational from 2032.
There is no doubt about helium percentage. What remains to be confirmed is that is the cost of extraction from the ground viable? Is the cost of Extraction vs selling cost going to be profitable for the company?
We will need cash soon to put this to commercial production. I hope the board is more competent then the morons at ANGUS, where I lost a lot of money.
Looing at December's RNS of placing when over $7 million was raised, and cash in hand of approx $ 4 million.
"Use of proceeds" section of that RNS below indicates almost all cash would now be used up.
The net proceeds of the Fundraise provide the Company funds for drilling the Itumbula West-A well, commencing in early January 2024, with the breakdown of the use of proceeds for the full drilling programme including:
· Drilling of Itumbula West-A ($6.1m)*
· Tai-3 outstanding costs ($2.7m)
· Licence fees ($0.3m)
· Estimated cost of fundraise ($0.7m)
· 3 months G&A ($0.8m)
*Cost of drilling Itumbula West-A assumes an uninterrupted c.30 day drilling programme with no operational cost overruns
The Company also currently has a cash balance of $3.2m.
Drilling Programme and related timetable
Following the completion of the proposed Fundraise, the Company will be fully funded to complete an uninterrupted 30 day drilling programme of the Itumbula West-A well.
Outlook and Working Capital Position
Following the completion of the Tai-3 well drilling programme, the Company retains sufficient funds to remain a going concern, with a current cash balance of $3.2m. The proceeds of the Fundraise will provide up to an additional 3 months working capital including the drilling of the Itumbula West-A well.
Info from Google searches.
The current global market for bulk liquid helium is worth over US$2.8 billion with the import price to China now exceeding US$450 per thousand cubic feet (mcf) in 2022. Market growth is based on sustained demand growth driven by the growing need for helium due to its high-value, high-tech uses.
Helium markets have experienced a series of extended periods of short supply since 2006. In fact, 2022 was the eighth year of supply deficits during the 17-year period between 2006-2022.
It is estimated that there is enough helium left for just 100-200 years at the rate of our consumption. It's a nonrenewable resource, so getting to where it's needed most is important. But as supply decreases and demand increases, prices skyrocket.
Agree Bubblepoint.
Singhie has been wasting a lot of his and everyone else's time with his pointless prediction/forecast that he has built on some useless spreesheet formulas. It has been of no help and completely inaccurate.
Well, Isn't that one of the aspect of AIM that you having faith in a new company you think has a product that will take off at some point in the near future. At it's initial stage there is always that risk of the success rate and financial challenges.
If you have that faith you invest rather than trade and ignore the short term highs and lows.
Isn't the key word "Notwithstanding" in the RNS?
"The Board anticipates that the current cash balances, together with the anticipated cash receipts due ahead of the year end (details of which were announced on 29 November 2023), will enable the Company to exit the TSP process. Notwithstanding this, the Company is considering options to raise additional funding to strengthen its balance sheet..."
I don't understand why are we so worried about debts. All companies have debts e.g. BP has a 43 billion dollars debt. But their net debt to EBITDA ratio is only 0.11
net debt to EBITDA ratio is a measurement of leverage calculated as a company's interest-bearing liabilities minus cash or cash equivalents, divided by its EBITDA (Source google).
Experts can calculate this for Angus if interested.