Based on the section highlighted, the board of Blue Star Helium anticipates needing to raise additional cash to fund operations.
They are confident that they can access further funding as required, based on the current market appetite for equity financing.
--- translates to pump incoming..
This suggests that the company may seek additional capital through stock offerings or similar financial instruments. The board seems optimistic about the success of these potential fundraising efforts within the context of the report, indicating that previous capital raises or market conditions have likely been favorable.
--- translates tapping some fresh investors ????
The quarterly report shows that payments related to staff costs, including salaries, were a significant expense for the company.
These costs can be a concern for investors if they're proportionally high compared to the company's revenue or cash reserves.
Understand, it's crucial for the company to maintain a balance between attracting skilled employees necessary for its operations and managing payroll to ensure financial sustainability, especially during periods of intensive exploration and evaluation when revenue may not be generated yet.
Plenty have been following and supporting this company since Trent came on board, i.e. 4, years.
how about some ROI for investors? As pretty well anyone that has not sold out on the pumps are under water big time.
Positives:Based on the update, Blue Star Helium is progressing with its Voyager project, despite some challenges.
The wells BBB #33 and Bolling #4 SESW showed lower than expected flow and pressure, prompting a reassessment of the development plan. The data indicates potential when applying vacuum to the wells, but the company is now looking at alternative commercialization pathways, given the necessity of earlier compression in the field's life. Remapping efforts are underway to integrate new drilling data and evaluate the geological structure for future drilling prospects.
Meanwhile, the Galactica/Pegasus project is moving forward, with drilling anticipated in Q2 2024, buoyed by prior successful exploration wells and a de-risked profile due to neighboring project commercialization.
Blue Star ended the quarter with A$3.714 million in cash and no debt.
(20min delay)