Morning trading May 30, page-348

  1. 3,841 Posts.
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    Mate going off 2P as I understand it's more likely to occur than the 1P or 3P

    RLT has proven helium reserves of 2P = 13.6 bcf

    RLT also has methane reserves of 2P = 407bcf

    Bear in mind those RLT reserves are from only 14% of the land area so could dramatically increase if further drilling was done. However they have sufficient reserves now so their current Phase 2 plans could supply 5% to 10% of global demand from about 2025 however this is being reviewed for a potential expansion with the involvement of Robert Friedland.

    Global gas pricing has gone from about US$2/mmbtu in 2020 to about US$8/mmbtu however per the RLT annual report gas prices in South Africa are US$16-US$22/mmbtu so at an even higher level

    https://hotcopper.com.au/data/attachments/4391/4391863-e8bf25045e97bda8e208199b5e2bbb19.jpg

    P50 for GGE is 6.3bcf of helium and not sure they have any other gases they could monetise like RLT can with their methane reserves at very attractive price levels. If you go back a couple of years before RLT's reserves update RLT's combined 2U 2C 2P per Sproule was about 123bcf. So I guess if you want to compare GGE at this stage to where RLT was at its 6bcf v 123bcf so RLT about x20 the potential. Also GGE I haven't looked at in great detail but have some scheme if they confirm helium to use an existing helium processing plant nearby in the US which may have revenue sharing arrangements.

    https://hotcopper.com.au/data/attachments/4391/4391828-6dac4b9a3e76ac5e092313c01a985ab5.jpg

    PS I think you were comparing reserves to resources which are different things. Also @traderforever if you are interested in this


 
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