The issue is that the project looks nothing like what was being sold in the prospectus with the NSAI figures. That of being free gas in the reservoirs with a presented with varies p10 to p90 water saturation figures not 100% saturation. And yes I was annoyed at the helium concentration being in line with prospectus announcement.
It has now morphed into some sort of pioneer Helium extraction project from water ? You do realise how many 100s of millions have been spent on coal seam projects where maybe 1 in 3 have worked ( see GLL, BLU, STX) of the failures from these coal seam projects and how many 100's of millions they burned for their unviable projects) and these are from companies that had working examples in the industry of coal seam projects.
I've see it with other stock where maybe they had dud nickel or lithium results then spruik some new extraction process being done by X company which would make the project economically viable.
So the risk of this has jumped exponentially from what was already a very high risk play of wildcat in Tanzania to getting to an economical extraction process in play. This is actually the reason that the certifiers do not have a working definition in play whether this is a discovery or not as maybe they themselves don't know if it is viable or not to call such a helium play a discovery without many working examples.
NHE Price at posting:
17.0¢ Sentiment: Hold Disclosure: Not Held
