Stefano's Tweets, page-510

At about the 7.50 mark in the video I posted above on Monday Stefano mentioned the baby sized Phase One plant to cost about US$65m.

Given Phase Two is expected to be much larger the cost to build it could be more than the current market cap. Blue Gem assumed Renergen to get to about 3.7 billion rand in total debt mostly from the Phase Two plant it appears plus about 63m additional shares being issued. Hence if Phase Two could be funded entirely using the helium backed security this debt and dilution could potentially be eliminated. Also Blue Gem would need to update the reserves data once Sproule provides the updated reserves/resources.

So the cost of Phase Two and how it will be funded will be interesting and a potential factor in if and when dividends get paid. Phase Two helium deals for 65% of production in the US$400/mcf to US$550/mcf range plus LNG for Phase Two expected to expand to more trucking routes for Total the main items underpinning Phase Two currently along with helium being in demand globally as a critical element.

Any thoughts on how Phase Two will be funded? Helium backed security entirely? Some dilution? Another loan?