Well I just got to read the quarterly. Concerns such as the bank account is almost empty are waved away by hinting that more credit will be extended. The dire lack of liquid helium is explained away by “we had no on-site storage and no transport containers were available.” This is next-level stuff. Kind of like “the dog ate my homework “ on steroids.
How is it even remotely possible to build a liquid helium plant without on site storage!? I even asked Stef about the on site storage capacity some months ago and was told “sorry, that’s CIC so I can’t tell you”!!!!!!!!
Another point; the report states that no more holes were drilled. I thought there were plans to do so because otherwise they can’t increase the LNG output? LNG production doesn’t seem to get past about 1250 tpq.
So yes, big doubts from me about the viability of this company going anywhere under his “leadership”…other than down the gurgler.
Is anybody here actually resident in South Africa? If so, please put in a call to the Linde office and ask them if any truck-containers for liquid helium are available? We’re any available from September? I’d love to know what they say.
RLT Price at posting:
58.0¢ Sentiment: Hold Disclosure: Held
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