Member Info for ART123

There is not even the slightest talk of HE1 even thinking of trying to get a JV partner. In fact, if you read the RNS today they are actually relinquishing part of their acreage - and this is to save money.

Too bad if they are going to need any more cash. Maybe they should have raised some when there was still talk of spudding this year. Any raise now will be at a rock bottom price. I see the IPO raise was at 2.84p!!!!

Personally I sold out back in May at 10p+, planning to buy back in once a rig contract was signed. Personally I shall be quite happy if this now dips down to around the 4p mark - which isn't much of a drop further from the 6.25p at the end of last week, and at that point there was still a chance of them still drilling this year.

The wet season is from December until May.

This is obviously a bull**** date to try and soften the blow to the share price for HE1 missing drilling this year - despite all the talk and plans.

And what a silly dead cat bounce on the share price here on Monday. The share price was sub 6.5p at the end of last week - and quite where it should have been considering today's news - only for the goons on Twitter and probably some Telegram group if one exists here or if not then posters on ADVFM to ramp it back up to 8p +. How stupid.

Quite the rubbish RNS that seems to be the norm from this outfit these days. Why didn't they come straight out with it and admit that they have missed the drilling window for this year and that now they will drill within the window next year.

This whole rig audit news flow is absolute tosh. I very much doubt if we will see the next drill spud much before Q3 2023 either. What is certain now at last is that there won't be any drilling this year. Share price prediction anyone????

They are rather 'milking' the rig audit. I have never even heard of such a process before and now HE1 management are using it as an excuse for delay after delay. Even this delayed start is still "subject to successful completion of rig audit and contract agreement".

These provisional drill dates also sound optimistic. Noble Helium, who are also exploring for Helium in Tanzania, give the wet season in the area between December and the end of May. Can HE1 really start to drill during the wet season????? Obviously Nobel Helium do not think so as their maiden drilling campaign is due to spud in Q3 2023.

The interview was from 1st August so it is fairly recent and is pretty good and well worth a listen or another listen if anyone didn't listen to it earlier.

Everything is progressing very well - but MATD cannot start anything until the land access permit is granted. A full explanation of this starts at 5.45 minutes in.

This is the interview that I was referring to:

https://www.youtube.com/watch?v=AhPJ8a-I0mc&t=3s

If you listen around 8 min MB clearly explains the land access issue.

At 8.53 Mike Buck says "the reality is that without legal access to land we won't mobilise - until such time as we know that we can be there unmolested we won't mobilise. We are pushing hard to get the central government solution soon and we have an application lodged with the local authorities for their next meeting of the administrative body that will look at this as soon as possible". That is how it stands. Earlier Buck explains about MATD's efforts to get the land issue permitted at a government level but that is not how it happens at the moment and unless that comes into force it will still need to be issued at a local level and that despite numerous applications this has not been granted/issued so far.

If you had listened to the last interview, I think it was on this website, then MB clearly said that MATD were not going to be able to get the workover rig operational or plan further drilling until the land issue was fully sorted. Much like the wait for the Exploitation Licence, this is now just a sit and wait for the paperwork to be done. This is not a worry as the Chinese block already have the full land rights but for MATD nothing can be done until this is sorted.

ATB

More a tactic by the brokers to move the share price up by nearly 100% before the late release of an update. This tactic is usually applied when there is an ailing share price and nothing much in the way of news to come out, which is pretty much what we have here.

Anyone who watched the video from the site visit already knows that there is copper in the area - they have that right for sure - but the question is always how much and at what grade. Also here, as the RNS said, the question is whether there is any gold in sufficient quantities as the trenching results didn't appear to find much.

I think punters were half-expecting to see assays for hundreds of metres of copper at 3% grades but instead we have a rather flat RNS that reiterates that this prospect is very much in the scout drilling stage, with a long way to go before any real news.

But at least we now know that this is a leaky ship!!!!

This seems to be going very slowly.

I think that punters were expecting assay results but instead all we have is news that they have completed 1667 metres of drilling in two months. That is very slow going.

Also out of the five holes drilled so far, only samples from SLD005 appear to have been prepared and sent for assaying. Does this mean that the other holes have not shown any great promise or was SLD005 the first to be drilled and ahead of the other 4 holes. SLD005 appears to be the only hole that was deepened and thus which showed good promise.

There appears to be at least another months of drilling to go here just to get this first short drill campaign finished and the assays no doubt will be coming through just as slowly,

"We look forward to updating investors on progress in the coming months." - with I think the emphasis on "coming months".

UKOG never were going to be fracking Horse Hill as the Kimmeridge is naturally fracked, hence why Sanderson didn't bother or even need to issue an RNS about the Govt change of policy. Instead he laughed at the stupidity of such rumours and used the false rise to get his placing off quickly, at the same price as the last placing on 27th July, only 6 weeks ago.

GCM with a similar coal asset and prospects in Bangladesh has been rising for days on expectation of news on their power deal with the Chinese. Nothing happening here though.

It looks like a silly time to sell with only a week left to the commencement of drilling. The share price is pretty low at the moment anyway.

The last time I-6 was drilled the share price peaked at 3.4p, after the preliminary analysis of the core on 22cnd December (when the share price was 2.10p) indicated that the drill had hit what we now know was the very edge of the mineralisation.

Of course, there were other prospects in play at the time though the Molopo Farms drill was definitely the primary mover of the share price then - as it is now.

1.5p is nothing really.

Just for reference the previous I-6 drill spud on 19th November 2020 and reached 287 metres by 30th November and the planned target depth of 547 metres by 14th December. It was later extended to 598 metres.

No doubt we will be kept informed of exactly what they find as the drill proceeds. From today's RNS:
" The programme is being designed to ensure expeditious core analysis to include: geologists on site to conduct continuous core inspection and logging, identification of visible sulphides, selection of core samples for assay testing and the arrangement where appropriate of expedited laboratory assays to minimise turnaround time. Hiring of the personnel required for the above is in the process of being finalised with crews arriving to site shortly."

ATB

RNS out:

https://www.londonstockexchange.com/news-article/POW/mfc-project-update-drill-programme-mobilisation/15621071

As per plan the rig mobilisation to the drill site has commenced.

Paul Johnson, Chief Executive Officer of Power Metal Resources commented:

"The preparations for this important diamond drill programme continue at pace, with mobilisation of equipment to site and a target date for drill commencement next week."

Regarding new developments the gist of the stockbox interview is that there cannot be anymore drilling now over the winter, so the next drill will be in the spring, which is a long wait for news. More likely a slow fall back to 9.5p or lower if you ask me.

Not a seemingly great start here. The share price was at around 9.5p for days on end and then all of a sudden on Monday there is a near 10% rise for no apparent reason. This is repeated the next day and again on Wednesday before a RNS pops out at 11.30am.

In response to the somewhat okay news in the RNS - Drill hole TK-22-059 in the West Pickle Zone intersected sulphide mineralization over 5.5 meters, including massive to semi-massive sulphide over 1.75 meters from 185.25 to 187.00 meters down hole - people were suddenly buying in at nearly 14p - compared to the 9.5p before the apparent leak. From there the share price started to fall back and looks to continue downwards as the drill results were less than spectacular.

Without the pre RNS leak and obvious insider trading, shareholders would have been buying in around the 10p level rather than 40% higher. It looks like the brokers sat on the RNS for 2 1/2 days while their mates were loading up ready to sell off as soon as the RNS came out.

Despite the excitement by the management, even grades of 1.04% nickel over only 5.5 metres and at a depth of 185 metres is not anything to get excited about. Back to 9.5p???

AJMO

Another 500K SELL - the buy price was 10.50p at the time and the trade was at 10.30p. Someone is offloading fast!!

And Hole 004 was drilled to a depth of 100 metres.

Actually I think on rechecking that my figures are incorrect. It looks as if the drill hit in 10 of the 30 drills rather than in 9 of them. Not that it makes much difference.