Member Info for Trickymatters

Why would they do a cash raise when they have made good progress in developing the pareto engine and are now engaged in additional testing and trials which, their website informs us we will be subject to announcements before the year ends? The site also says we will get more details about the JV. EVage are already promoting their plans. We will get some news when we get some news. Then they will raise from closer to 1p.

JDF7, I think MILA will update us later this year. Lionstown will of course prioritise the Kathleen Valley project as a whole for their own reporting requirements. That doesn't mean they have nothing to say about the sampling they are carrying out for MILA. It's up to MILA to make any related announcements first on this work. If the results are exciting they will be subject to the terms of the agreement already in place. If the results are more than exciting they will be the source of another agreement or could produce an offer to buy out MILA. I am surprised things are as quiet as they are at this stage and in the light of the progress that Lionstown has reported which we know does include the MILA jv.

Aiming to be a part of early carbon capture initiatives.

The green transition is happening. This year's license auction for solar, wind and tidal energy resulted in about 150 lots sold. Enough to power 11 million homes. A record. Not a hard record to achieve because the last government's auction in 2023 sold nothing. This is what people voted for. For a good reason. Climate change.

The green transition needs oil revenues to pay for it. The government consultation issued announced last month clearly states that the new green energy company will not paid for through oil revenues. It is consulting on the issues raised by the Rosebank ruling at the High Court. This ruling requires companies to consider green House emissions. The government accepts that the UK needs oil for at least another 10 years.

ORCA's polymer flooding technologies are the lowest extraction methods available. That's why they have been awarded all 3 licences. If their claim that there's 247 million barrels of oil recoverable in the Flyn license which they own half of with Ping that should be around £1.6 billion worth of oil. From that one license.

They owe Shell £1 million. They have agreed Shell will hold one of the other assets until Christmas if they don't pay them back now. So the credit has been extended. Probably in recognition of the uncertainty around these issues.

So the question is do you think that this uncertainty won't be resolved? The High Court is saying emissions must be 'considered'. The government accepts the country must have oil for at least 10 years and some oil beyond that. It needs oil companies to pay for the green transition. The government doesn't want to overspend. This is constantly reaffirmed in their public statements.

I think that the consultation will result in a slight decrease to the windfall tax proposed atm. Oil companies will keep working though they will adapt their methods to reduce emissions and this tiny little minow will prosper if they can raise the money to participate actively.

Check the Lionstown site. They started work at Kathleen Valley before the end of July. They have agreed additional investment from their current long term partners. There was a slight delay on finalising this. They also have commitments from Ford and Tesla as clients for the lithium. We should get an update soon.

Great result. Should be more good news to follow. As everyone is saying, the likelihood is that RENX have presented a credible case to the appeals panel. I would expect two more lcds to follow. Why would 34 US states miss out on Medicare coverage when the insurance industry stands to gain financially from better preventative action for those with type 2 diabetes and chronic kidney disease. Kidneyxcel has demonstrably good outcomes in reducing deterioration without incurring expensive and invasive surgery or kidney dialysis for patients. Also hoping that they have had time to start to embed the use of the test across the 20 states with Medicare coverage by the time results are out. This could be 60p by Christmas.

Not just that it's FDA approved. It's got local coverage determination from August 1st following a public consultation. Means that 20 US states have Medicare coverage for the test to support anyone with type 2 diabetes and or chronic kidney disease. Millions are affected in this context. Sales teams are in place in the US and right across the Middle East.

13E has had an offer from Grand Tierra for £174million. Lower assets than ORCA. Their sp has not reached the value of the offer. Their shareholders are not sounding positive. Also in the North Sea. I guess we'd be happy with £174 million? I would.

US have consistently exceeded our sp. It would be interesting to know the basis of the Nasdaq appeal. If it wasn't on the bid I guess it must be on the local coverage determination and the likelihood of national coverage to follow. I expect if 20 states start buying and seeing health improvements and savings in public health costs the others will want in too.

Cash balance is the same now as it was at the end of March. So they may be selling now. We don't know what the òffer was. We know ìt wasn't good enough. Looks like either management are a bunch of con men or they believe they will improve the market cap beyond the offer they had. The institutional investors are largely standing by them.

They weren't going to sell much without local coverage determination from Medicare. Now they have it in 20 states from August 1st. I will wait for results in September before making a decision.

The uncertainty about the NSTAs was holding this back and in fact resulted in a lot of selling. Should pick up steam now. The financing issues are likely to have been related to this too. The FT says only 13 of the new licences were likely to get NSTAs. ORCA have had all there's approved. Big result.

15.6 pence! Apologies.

Closed at 0.3906 US dollars yesterday on Nasdaq. 59.6 pence taking 2:1 and exchange rate into account.

All their licences are now fully approved. Proved their case that their drilling technology is one of the most advanced and least damaging to the environment in the world. So I'm guessing they'll be progressing faster now.

Bit of dissonance today between us and Nasdaq. Previously they have been opening at Nasdaq closing price, then they started moving towards it during the day. Now they're not taking it into account at all. 15.25p there taking the exchange rate and 2:1 rate into account.

' A screaming buy' in today's bulletin.

They have 3 different licences awarded with Ping, Parkmead and Triangle. Parkmead have received the NSTA on July 19th 2024 and are sounding quite bullish on their intentions to progress. News is due on all three. The sp fell on a delay to an agreed funding package with an unnamed industry partner for just over £1 million which is owed to Shell. Their assets are hundreds of millions of barrels of oil and substantial gas reserves. They will get the money from somewhere else to repay Shell if necessary.

16.8p here according to Google Finance. 19p equivalent in the US.

They've started to talk to doctors. They've had a massive consultation in order to attain lcd coverage from Medicare. Labs process tests. It won't be that complicated. They're obviously unlikely to do 5 million a year. That's how many people are eligible and where Medicare will assume the test is both 'necessary and resonable' I.e. those with diabetes and or chronic kidney disease. Medicare have a vested interest in testing this group of people. Chronic kidney disease obviously presents a risk of becoming serious kidney disease if not treated. Serious kidney disease means dialysis or death. Dialysis is pretty much the end of working life and hugely expensive. So Medicare will save money and lives by encouraging people to get tested.

Democrats understand the value of preventative health for people and for the economy. I suppose if Trump gets in everything will just be massive chaos. And 14 million with kidney disease will be the least of the US concerns.

If Harris wins they will go large on preventative health. As we will here in the UK. Makes good economic sense and saves lives and improves quality of life for longer.

GLA.