RE:Forty MileWe're heading down to Glen's Kitchen in Rosetown at noon for some delicious Asian food, and of course more diliberations about RHC. Milley's current assessment of RHC will receive some debate today but she stands on some firm facts. Milley says, to no ones surprize, that RHC's new management finds itself between a "rock and a hard place." Forty Mile appears to likely provide the best apportunity to enhance helium production and as Margin321 alluded to, likely looking at something other than an Arjae systems plant. But, where to find the capital to proceed? With a share price close to zero the options are also close to zero, but not quite at zero. Milley speculates that the management has been scratching their collective heads for awhile now determining the next best step to take. Lots of potential sites and very limited means to develop them, much like the situation many people find themselves in at some time in their lives.
The food will be great, the conclusions on RHC's fate will be another subject altogether, but there is still some room for hope. But much like your loveable old dog, it's hard to get to get rid of.
Margin321 wrote: Are they still planning on drilling the Forty Mile prospect in Alberta that they raised money to drill. Or is that actually under way. I would assume Val Marie JV has fallen apart as no mention of that being closed.
It is beginning to look like the Arjae systems plant just is not going to work right. If they had bought a cheaper membrane plant like NA helium uses they could have been producing all the helium in the gas flow right away with no challenges. Maybe they could not jave separated the CO2 and condensate, but they arn't selling food grade CO2 either. And the months and yes years slide by. They should have had the helium from the Steveille wells into sales in a week or two. That plant may end up being the fatal error. Am I wrong?