I'm with you, thinking 8.8% is a dream, 38mmcf pa is a dream and equally important the cost of $120mcf not looking credible either based on everything else.
On top of all this, do we really know what spot contracts of helium are going for at the minute? I'm not talking some * article from July or an interview from October 2022. Like right now, what is the market looking like. I'm seeing allusions to helium shortage 4.0 looking over. I know chip manufacturing is increasing and Red Sea dispute is adding some pressure. but seems like it could be outpaced by more supply coming online?
So we are burning cash fast in the drilling phase, have no product at present to sell....if we do- if we are honest with ourselves based on the company's track record, do we expect over-promise/under delivery on selling price, volume sold and operation costs?
I would like some clear communication from the company on the above, not more wishy-washy stuff.
So even in the unlikely event of positive news tomorrow (which I welcome), lets be real with ourselves; so much more to know. I'll be holding the shares I have left with good news, not adding more at this stage. I expect a CR in q2 regardless of results, cash won't be coming in fast enough to cover expansion costs.
As always, if someone has some new information to counter me. Please share!
BNL Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
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