RE: Reflection27 Mar 2026 22:48
It's still exploratory, they've still got a lot of work to do to prove it up, if ever they do. It will be well in to 2027 most likely before they even get anywhere near producing some helium. They have no hard assets other than a rig, that's it. They don't own what lies beneath the ground, they don't own workers as they are dependent on salaries, they owe the Government continually for the licence and for it's demands of supplying whatever is required at grass roots level for the local communities, they need to prove their loyalty to the TG, and I honestly thought the signing ceremony had been delayed because of the strategic partner nonsense, but I now think it's because the TG feel the company aren't complying with the demands made, and the licence will be revoked and handed to a major instead, who will furnish the TG with a greater quantity of dosh in to their pockets for the privilege. If I'm brutally honest, in view of the cases I posted earlier today, I'm not even sure a major would want to risk being saddled with the TG pulling the rug from under them either and then having to sue.
I honestly hope it comes good, but it smacks of incompetent housekeeping to me by the company, especially on the finance side, to come back for that further raise this week, when the Board are still taking their huge salaries almost amounting to the same amount just stinks. They are giving up nothing, and they are not aligning themselves with retail investors/shareholders one iota, and clearly don't intend to do so. Shame on them all. But they've furnished their pension pots so they won't care. My views.
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