Share price has fallen to meet SPP raising price of 5c.
Licella critical water test has nothing to do with share price fall. Supercritical water test was just 1 option. it didnt work out viable. Company has other successful options (liquefaction) that they have already demonstrated and will use.
Test 4 results were not the best because mgt have since discovered fresh rock does not give up its hydrocarbon content the same way that weathered rock does regardless of method ie supercritical water / liquefaction.
Hydrocarbon levels in fresh rock or weathered rock (correct me if I'm wrong here) are the same levels ie will produce same yield amounts (mgt chasing 70%) but require different processes in obtaining these yields. Thats what Test 4 demonstrated. Mgt now know this confounding factor (weathered / fresh) exists so will be undertaking Test 5 on fresh rock with this in mind.
Mgt want to present initial PFS with best case results so will use Test 5 results now (yet to be undertaken) as opposed to Test 4.
Mgt in the interim will provide scoping study.
Others please feel free to correct me if I'm off base.
GRV Price at posting:
5.1¢ Sentiment: None Disclosure: Held
