Member Info for steve58

Morning Chris.

Very worrying that a board with their combined experience cannot come up with a deal of some sort to bring income into the company.

Seems they are doing nothing except waiting but still receiving share options every month further dilution the sp.

It will be interesting to see the fees paid figure in the accounts to 31st December 2020. Nothing has happened in the year so should be nothing on the fees front.

As a shareholder I am very disappointed in the lack of activity by the board.
At least Neil did make cameo appearances to discuss his seed investments.

As you say we do have a great deal to thank him for on the two investments he acquired.

Although we lost money on Reef and Pan Minerals.

Our board have sold off ukog.
As for the proceeds they seem to have been spent on fees.

Our PR is non existent.

Seem to recall all the interviews promises and brilliant future for the company when our board joined the company.

The sp tells the story since.

The board can do what they want with ruvuma and helium. They should bring income into the company but are both years away from production. The board should realise that waiting years for income does not pay the Bill's or do anything to enhance shareholder value.

They were able to raise 30 million euros for the aborted deal. They should be able to raise a similar amount again. They can only blame the virus and commodity prices for so long. We need an income deriving deal very soon indeed to bring some normality back to the company.

I must admit it is pretty awful just waiting and seemingly doing nothing for their earnings and fees that are taken out of the company.

I am about the same down so am pretty much stuck here until something positive happens.

A strategy or some sort of update even just to tell us the board are alive and kicking would be welcome.

I wonder if Gneiss are busy.

You may as well ride it out.

Imo the board get to make a cash generating investment into the company and soon.

We should all give them until the end of Q1. If nothing done then action against the boards total lack of strategy and wasting of shareholders funds needs to be taken.

It is a year since the aborted deal.

Hi Sean.

If our nxt investment went to say £2 million divided by shares in issue would be about .006p a share. A million shares being worth about £600.

Hope nxt ipo still happens and soon.

An rto into Leed would be ideal. We have a few million in allowable tax losses.

Similar to the recent Attis oil/ Helium one merger.

This way we would just be allocated so many nxt tec shares for every Leed share we hold.

Here’s hoping for some good news soon on nxt projects etc.

They certainly look good on their website.

I recall that we held about a 13% stake before IPO.

I think our stake was reduced to reflect our share of drilling costs as we held 13% of the company.

We now have just over 4%.

Shown as £2.93 million in last accounts.

Not sure how our share of drilling costs will be treated.

Our stake at 31st December was worth about £1.7 million so a £1.2 million write down looks on the cards.

With no income in the year another £2 million plus loss looks to be made.

The board are certainly trying shareholders patience with lack of anything.

Concerned that no real activity on Ruvuma for another year at least.

Probably be better to get out and reinvest proceeds in building helium stake while their sp is relatively low.

Many other companies seem to have no trouble making acquisitions at the moment.

Seems our board are either not bothering or using their so called skills elsewhere.

Just a thought. Our mc is about 20% of what it was 8 years ago before we had Ruvuma or helium assets.

Maybe a company making deal is imminent and we can give the board a big thank you for all their hard work during the last couple of years.

Afternoon chris.

That would be great.

Although this would of course not involve any work by our board of directors. A deal of some sort to generate income would slot in quite nicely in the next quarter.

Could get interesting here if Helium One sp increases markedly if first and subsequent drills are successful.

I think you did a chart of how much our stake was worth for different helium one share price.

Should Helium One sp go to 50p I think that equates to about £12 million or about 1.7p a share.

Gas prices now higher.

Seems one dyas had made a large gas discovery that they didn't want to spend on. We decided not to and therefore aborted the deal.

Imo we should have gone ahead with the deal.

We may have lost some money to start with but at least the millions spent in fees would have achieved something. We were due £20 million or more backdated to 1st January 2019 which was included in the sale price.

Anyway back to reality. No income.

Been in and out of here since 2011 the reef days.

I know NR did make some bad decisions, but without the two current investments he made we would be basically a dormant cash shell.

He was a bit of a character.

The current board must realise that the current downward spiral of sp cannot go on.

Hope this comes good soon.

I promise not to moan anymore.

I will just have to grin and bear it.

I assume if you were over £60k down you would have something to moan about.

Roll on 15p.

Hoping that nxt projects take off big time.

Imo ipo this year. Should see our investment up many times.

Don't mean to.

Haven't got a garage.

I see wentworth have given its shareholders another update.

We could do with a similar ceo.

The next update due in a couple of months will probably just tell us we have spent hundreds of thousands in fees granted more shares in lieu of salaries etc.

The fact that they cannot even come up with a cash generating deal of some kind and yet spend all this money in fees is beyond belief. Shareholders are annoyed that they have just decimated the share price and have now gone completely quiet on the Ruvuma sale and potential acquisitions.

I know I shouldn’t say it but what are they all doing all day.

I may be proved wrong and they will come up with a company changing deal.

I thought they had fifteen months ago but to no avail.

The waiting continues for another year at least by the look of it.

Didn't even take that long.

Down 95% in five years.

Would take some doing to match that kind of return elsewhere.

Awful to say the least.

They should be ashamed to even say they have a strategy here.

Wait until it's down 100%.

Without the April licence extension it’s worth nothing.

Let’s hope extention is forthcoming and not delayed years.

Imo once licence extension is received and covers most of the drilling period they will sell the asset.

All well and good waiting another year or more for a higher sale price but given the further expenditure involved they should take a lower figure and get this company moving in the right direction.

Not impossible, although given their total combined achievements in two years is a change of name, nothing more to be said really. SP has to do from 1p to about 80p in less than two years.

What shall we call them?

I would think after the aborted deal they are steering well clear of gas assets in the North Sea.