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We had DM who was tight with the funds, ok he went cheap on first drill but i think he wouldnt have burnt through $13m like LB.
Yes they will need to raise again and thats the problem, its x billions more shares needed, hence the lack of buying here. Its best they get JV or sell up what they can, its clear the management are useless!
left me cold tbh, brutal watch. that question on why raise in dec needed a better explanation on where has all the money gone, who was managing that? you had $13m and ****ed it away ffs. inexcusable answer that they had to let market know of raise in advance, b*ll****.
in 12mths this has gone from excitement to depressing. even with success another raise will be required to re-enter tai3, so more confetti coming, failure and its good night imo.
Not guaranteed and hence I sold halve my CLSK yesterday, bank some profit as my thinking is
1. ETF not given then good pull back likely
2. lots of hot money has entered miners and will dump for profit on positive or no news
3. Sit on sides now and see what unfolds and have funds ready
4. Profit needs to be realised
Could turn to be bad call, but being too greedy can bite you sometimes. GLA.
Turbot, you stated "as the LTH and traders sell"
Losing the LTH is a disaster for the HE1 and the sp. I have small amount left, and ill not buy anymore, the reputational damage is done, the BoD have destroyed this company to the point of any successful drill will be heavily sold into, the future is very bleak. Even on success imo they need 10 for 1 consolidation and JV or major investor, as no one trusts the management here, better to sell up on success and let proper O&G people take it over.
"The relevant documentation relating to the creation of the bonds has now been finalised, the bond security has been recorded with the Custer County Recorder in Challis, Idaho, and the bonds have been deposited with the settlement agent. The issue of the bonds remains subject to the satisfactory conclusion of discussions with interested bond investors."
Good enough for me, it confirms to me that its highly likely to happen, just a matter of taking time.
"The Company also refers to the $2 million short-term loan facility (the "Facility") first announced on 24 March 2023, and confirms that it is in negotiations with the lender to roll the Facility into a new and larger facility to assist the Company with access to additional working capital, should it be required for purposes other than construction of the Empire open-pit copper mine."
And separately they are negotiating additional finance facility "IF" needed.
Tiburn, you did your research and its certainly a potential multi-bagger. Everything is in place and for me the Copper Bond will be completed, when? Who cares, is it going to happen is the question I ask and imo its an emphatic YES, everything else is just panic, frustrations being vented, stuff that I choose to think of being noise.
coco, i know 12 months ago you were bullish and which changed from lb's appointment and especially the raise method used as a loop hole. you have been fairly accurate in your assumptions, i thought the prize was bigger than the bod, so gave stalker benefit of the doubt, but he repaid that by using the exit door, which is surprising as he still has his hands on the helm of bradda head lithium (bhl). but that too has hit lows. so i acknowledge you did call this spot on.
cannot get above 0.25 is a **** poor indictment of the bod, i think its get the drill done and exit, be that a jv or tanz government take out if helium hit, or curtains if no commercial find. but make no mistake the management have shredded all sympathy and support from lth's.
the bod went in and spent a few hundred thousand, that might have been a buy signal, but just 18k between the lot of them makes this seem a means of just paying their salaries. noble management invested their own money in millions, they must be p!ssing themselves at he1.
he1 is a lifestyle company now, they will keep enough back to fund their wages. even on a find of helium, its 2-3p and another load of dilution, its confetti now, its embarrassing, its shocking how they have wasted the millions raised, they cannot be trusted or relied upon to manage a **** up in a brewery imo.
"We will never truly know what has gone on but it is mismanagement of the rig which has sunk the company.
I suspect DM, IS and one other didn't want the rig bought, the others did, so as to propel the company to oil and gas and helium at Eyasi and a strategic partnership with the government."
I agree @skittish, I strongly suspect DM was not wanting to take the direction that was taken...but ultimately I think Stalker devalued the company prospects by promoting LB as CEO, especially when he bailed soon after. I think D3 will swoop in and reap the benefits ultimately of finding Helium, this bunch of idiots have set it up for them imo.
LG, imo they will have to sell the asset if proved or JV...it stinks as D3 have licence nearby I think @skittish highlighted this, so is they all to benefit others?
Stalker has serious questions to answer because it all stems from his decision to ditch DM. In 12mths the BoD he assembled have destroyed superb prospects.
that has to be one of the most shocking placings in aim history.
sept 6p placing
now 0.25p is frankly scandalous
the board have to take some responsibility for this - we still want to know how did they run out of money so quickly. this is it now **** or bust.
Obvious DM was pushed out and the strategy followed has been a disaster, so DM is probably content in knowing he has been proved right but mighty upset too I guess in seeing what has happened. Your Saint Lorna will need a miracle @skittish. With the dilution a discovery will see many bail, I will take whatever good rise in the sp and move on as I have finally come to the conclusion the BoD are not good enough, it maybe Lorna's last chance as a CEO.
JV is looking the only answer even on discovery, and if it happens the BoD should be booted into touch. It pains me but some have been proved spot on when it comes to the lack of experience, "learning on the job" lot who took over from David Minchin. This should be a new page in the text book of how to ruin a junior AIM company which had such excellent appeal 12 months ago. I honestly do not think this would have happened with Minchin running the show...not to this degree of incompetence.
0.75p when it should have been 3p, what a utter cluster f***
They get enough to drill Itumbula and tai3, find major and if , big if now, find discovery then JV needed imo and the BoD removed to get credibility back so that discoveries can be developed. No chance this BoD have the capacity or backing from PI's to take any discovery forward imo.