Delivering a fit-for-purpose exploration programme at the lowest possible cost for Helium One Global.
“…All these things which should be value creative as we head into our spudding date, followed by a successful drilling campaign, which delivers the helium gas flow to surface and the discovery announcement which longtime shareholders have been waiting for…”
September 14th 2022 was an expletive-laden one when Helium One Global published its operational update.
The investor circular was unambiguous, direct and honest and it went down like a proverbial lead balloon. Some shareholders were deflated about the ongoing MOT and audit on the drill rig essential to making the discovery that chief executive David Minchin is confident will be made at the Rukwa Project in Tanzania.
“I share the shareholders concerns and anger and disappointment about this,” says Minchin. “From a pragmatic point of view it’s probably the best thing that we’ve done. If we’re able to make sure that the rig arrives in a fully operational condition, and there’s no delays once we start drilling, then that saves us time and saves us money in the long run.”
Once the rig is ready so too is Tier One services company Baker Hughes which will provide drilling fluid, cementing, wireline evaluation and downhole gas sampling services on the company’s Phase II drilling campaign which Minchin describes as “a discovery winning campaign.”
“We now have a clear pathway to drilling. We know what equipment we’re going to use. We know who we’re partnering with for down hole investigation. And we know our pathway that gets the bit turning in the ground in January or February of 23.”
And then without stopping for breath, Minchin impresses both the pathway and the potential.
“There’s a great deal of confidence, and we’re going to deliver. So from here onwards, the news flow looking out is going to be the increased certainty of contracts being signed, the mobilisation of equipment. All these things which should be value creative as we head into our spudding date, followed by a successful drilling campaign, which delivers the helium gas flow to surface and the discovery announcement which longtime shareholders have been waiting for.”
In this devil’s advocate interview, Sarah Lowther asks David whether the ducks being assembled will stay in a row and whether there will be Groundhog Day delays to the project.
Watch David speak to Proactive’s Stephen Gunnion about Helium One’s Tai prospect
Watch David talk about the company’s Rukwa Project on 121 Mining Investment TV
Access the company’s latest corporate presentation
Follow the company on Twitter @Heliumone1
The author was remunerated but does not hold shares in the company
