Member Info for ART123

CORO appears to be on the move upwards already - EME to follow???

CORO

According to the NHE Investor Presentation, Tranche 1 shares will be issued on 9th June - see Page 13 - Allotment and trading of new shares issued under Tranche 1 of the Placement -Friday, 9 June.

(Tranche 1: 33,574,029 Placement Shares will be issued from the Company’s placement

capacity under Listing Rule 7.1 and 9,898,188 Placement Shares will be issued from the

Company’s placement capacity under Listing Rule 7.1A).

Tranche 2: The Company will seek shareholder approval at an extraordinary general meeting

(EGM), which is expected to be held prior to the end of August 2023, for the issue of the

remaining 31,527,783 Placement Shares. Details of the EGM will be announced once

confirmed and a notice of meeting will be dispatched as soon as practicable.

A few buys at 7.25p and then it is 7.475p to buy.

There were just s few too many silly sells this morning. They might as well wait and sell at 9.5p or 14.5p or whatever as let them go too cheap.

7.25p paid and the volume is just up with yesterday with another 3 + hours to go.

The lack of an operations licence might help to explain their rather odd high-profile appointment a while ago - and maybe the delay in getting a product ready for sale.

I did some research into this company a few months ago and I seemed to find that they still needed to be issued with an operational licence. From RNS dated 2nd August 2021:

"Greek legislation describes a two-stage licensing process; the first being an installation licence and the second an operational licence. As of the date of the Agreement, Hellenic holds a facility installation licence (the "Licence"), granted on 24 October 2019, which permits it to construct and establish a cannabis processing and production facility. Hellenic is in the final stages of completing the necessary works to apply for an operational licence."

They have the installation licence but it doesn't appear that they have an operational licence and it doesn't look like they have been issued with one since relisting.

On doing a Google search I get this from 7/12/2022 and I don't think anything has changed since:

https://ukinvestormagazine.co.uk/standard-reversal-hellenic-dynamics-cultivates-licence/

I believe this information is up to date.

Love it - "My expectation is that the SP will have a little drop of the back of it" - yes, just a 30% little drop!!!!!!!

Deceptive wording but if " first cultivation underway in late summer 2023" means what it says then with 4 harvests per year and a 3-month growing cycle the first "harvest" won't be until about December - 6 months later than previously planned.

According to the business update of 23rd January: "On track for first harvest in mid-2023" which would have been assumed to be around June.

Today's update says: "Hellenic Dynamics is currently on track to have its first cultivation underway in late summer 2023" - which would be assumed to be around September but this clearly says "first cultivation underway" and not "first harvest".

The rest of the RNS is all about scaling back production and cutting costs - not too good considering they haven't even commenced production - and about buying up lots of "unused second-hand equipment" and how they are trying to get their electricity cheaper.

News - howdy.

I remember you from the Solgold days many years ago (2013/2014 I believe) but you don't seem to post much these days.

Pity about POW's Molopo Farms venture. Great prospect though.

Also FDR - a POW spin-off that is soon to be IPO'd - have what looks like great prospects.

This needs to find the high-grade copper that SB believes is there. The titanium in comparison he describes as an 'interesting problem to have' but it is clearly not what he is really looking for.

Please ignore the last half of my last post - from 'Don't be silly....' to the end. That was my original post which I then re-wrote and I didn't realise that it was still at the bottom and out of sight. Apologies.

"Also note his stated reassurance of no further capital raise required to fund the next phase of drilling at Pitfield."

They said that before, but still raised more capital. On 15th February EEE issued a 'Cash Position' RNS to say they had £1.25M cash which was enough to cover soil sampling and the maiden drilling campaign at Pitfield. Then, on 13th March, they raised another £1.25M before expenses but the drilling didn't start until 23rd March.

Raising funds is not much of a problem here and the placings usually go off at quite a high share price. In fact, the bigger danger appears to be from buying in at the placing price only for the SP to fall considerably lower. Examples of this are that after the 2p placing the SP dipped right back to 0.80p and after the 2.25p placing it fell back to 1.75p.

Exploring this 'giant' prospect is going to be costly, that is for sure.

Don't be silly. Of course, they are going to need to raise more funds, firstly to continue with Pitfiled and then for their other projects.

Also note that EEE even released an RNS regarding their Cash Position on 15th Feb 2023 saying that they had enough funds for the maiden drill campaign and still raised cash on 13th March 2023.

They have been spending lots on surveys and drilling and increased staff, etc and still have a lot to spend. Funding will be a constant concern.

Thanks for the link. Superb presentation - and he didn't say "you know" too many times which is a noticeably strange quirk of his.

Despite finding titanium, Mr Bunn is still making it very clear that it is all about finding a big high-grade copper discovery. When the copper turns up the share price won't be 3p, it will be an easy 10p and more likely 20p. And he seems confident that multiple high-grade copper prospects are hidden in thei'giant'.

But this will all take time.

ATB

With the lack of availability of suitable rigs and the high cost of such rigs, this is far from a discovery as yet.

Completion of drilling Tai-1A Exploration Well

Helium One (AIM: HE1) is pleased to announce the completion of drilling of the Tai-1A exploration well to a depth of 1121m at its 100% owned Rukwa Project in Tanzania.

Highlights:

· Tai-1A completed to a depth of 1121m with helium shows identified in all three target formations

· Helium shows encountered over five intervals in the Karoo Formation.

· A 130m thick claystone unit was encountered above the top Karoo sands, indicating good seal presence for the Karoo reservoir.

· Wireline logging of the uppermost Karoo indicates good reservoir potential with 15-20% porosities.

· Petrophysical analysis indicates no free gas in the uppermost thinly bedded Karoo sands associated with helium shows.

· Helium shows within the deeper and thicker sandstone units of the main Karoo reservoir were not able to be logged due to poor and deteriorating hole conditions.

· Results of Tai-1A to be evaluated and incorporated into our ongoing exploration strategy which may include redrilling of Tai to test identified targets.

David Minchin, Chief Executive Officer, commented:

"We are encouraged to see multiple zones with helium shows whilst drilling through the Karoo Formation. Tai-1 has successfully identified helium shows within all three target formations which confirms the presence of a working helium system in the Rukwa Basin.

"Frustratingly, due to poor and deteriorating hole conditions, including large washouts across much of the Karoo, we were not able to run wireline tools downhole beyond 882m and have subsequently not been able to log the main Karoo Formation.

"Thinly-bedded sands in the uppermost Karoo that we were able to log have no indications of free gas. Petrophysical analysis indicates that these helium shows are associated with gas-cut-brine or 'fizz-gas', which is formation water saturated with helium. These were the only helium shows that we could reach with wireline tools. Deeper show intervals identified in thicker and cleaner sandstone units of the main Karoo Formation were not logged.

"With deteriorating hole conditions and no free gas identified, we could not drill stem test at Tai-1A leaving untested shows. We have learnt a lot about the subsurface of the Rukwa Basin which we can carry forward into planning our ongoing exploration programme, which may include redrilling of Tai prospect to test identified targets."

Tai-2 drill followed and that was all a bit weird. The drill only lasted for 7 days and ended with the comment: "Tai-2, although completed without identifying helium gas, has provided valuable information on shallow trap and seal potential".

There is no guarantee that the bigger rig will get past the poor hole conditions. The end result might be exactly the same.

And while you are at it, all the fanatical LTH's here seem to take a discovery for granted. This is not so. Apart from the relatively poor 12%-14% COS, HE1 have drilled 2 wells already and found b*gger all helium. Both wells were in the Tai prospect and now the third well is going to be in the same location.

Much of the failure of the first drill was put down to the "poor and deteriorating hole conditions" and I believe the plan is to use a bigger drill rig which can drill through these poor hole conditions and allow HE1 to at least test the lower formations.

However, the upper Karoo sands did not contain any helium. I will post the full transcript in my next post. This is no discovery, as yet, particularly with the drill going back to Tai.

She could go it alone - but not with this rig as it was sourced by Noble.

Unfortunately, as HE1 has consistently proved over the last couple of years, if anything can go wrong it will. What has changed? I shall be happy to see the rig contract signed. Until then nothing is certain, as has been shown by this apparent last-minute complete u-turn by Noble Helium.