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Good point on the funds, where did it all go?
The BoD need to explain because they had more than enough and contingency built in. Its a mess and seems that leadership is lacking. As for share price, it's very annoying that we are down here and 10p is a ten bag from here.
"...discussions are at an advanced stage and the Directors remain confident that the bond issue will close, thus allowing the Company to have access to the relevant construction funding when required"
Good enough for me to add a few more when I sell some others...
Question is are you trading or investing?
EP, credibility? questioning the BoD when there backgrounds speak for themselves.
Tough ask to find another gem like this would be very difficult imo, again thanks to Trek, these are rare.
Minchin at least was very tight with funds and I dont think we would have burned through $15m so quickly. Still think the rig rns was not only point he was asked to move on, he probably had fundamental disagreements, did he want the rig they purchased? I dont think he would have had that 2nd raise either...lots of unknowns, but I honestly think the sp would have been much higher.
Firstly belated TY to Trek for highlighting this company to me some time ago, and for his honesty in his posts is a refreshing tone on these BB's.
I did quite a bit of research here and it backs up your sentiment Trek, its a rare find and one that has all the fundamentals to do multiples.
A positive is the management haven't diluted investors into oblivion, only have to look at HE1 and their recent raises and how it destroys the share price.
Shares of 124,928,622 with warrants of 9.22m is excellent in terms of resolving the copper bond financing will see LTHs rewarded. Marcus Edwards Jones has significant experience in global institutional capital raisings, the deal will get done eventually, so for me any dips are accumulation opportunities. Patience is all I need.
All of use never forget how Richard Shearer behaved towards PI's. If ever in the future he has any need to list on the stock market in the future, he cannot be trusted....period!
And Goodnight, last person turn the lights out.
The BoD will have some explaining to do at the AGM, and no Stalker to manage proceedings. This is a crucial period now, failure will kill any remaining sentiment for good. Imho they need a JV or Loan on Assets, if successful, cannot keep diluting. Would be ironic if D3 move in 2024 and drill a major find, with previous HE1 directors reaping the benefits :-(
They need a JV partner and I think merger with Noble may be best option.
The sp has been hammered by poor decisions & bad luck, it will need major discovery to get double digits again. We have a rig that will be fixed and can be used by Noble too, so merging resources makes sense and without Minchin, I think Noble management will get a better funding on a discovery now.
The rig purchase has let us down, was this the reason Minchin walked?
dm must be ****ed off with the way it has gone. some say he was moved out because he disagreed with strategy but its been a story of wasted funds with them burning through money. pis are not going to fund this so they better get a jv buy in imo.
Shearer has made numerous errors like the CLN, he has utter contempt for PI's and their is no power in the BoD, its a dictatorship.
Relist in 2-3yrs with Shearer at the helm?
Erh, no thanks the man cannot be forgiven for the last 12mths.
"... the U.S. Department of Energy announced that it is upgrading the criticality of copper for clean energy technologies as part of the agency's Critical Materials Assessment. The purpose of the research and conclusions in the assessment is to enable the Department of Energy to set priorities for investment to secure domestic critical mineral and material supply chains, support the clean energy transition, and promote sustainable solutions to meet current and future needs. The assessment found that copper is a material that serves a critical function in electrification as many nations aim to reduce carbon emissions, with some setting goals to achieve net zero by 2050. The report notes that these efforts will increase the demand for clean energy technologies and the materials they rely on. Copper, a key metal in electric vehicles, wind turbines, and other green technologies, is set to move from a 'noncritical' classification in the short term to a 'near critical' classification in the medium term. Between 2025 and 2030, copper is expected to land on a level 3 out of 4 in terms of its importance to energy on the agency's criticality matrix. As mentioned, this new classification, coupled with last year's US Defense Production Act announcement, further sets the stage for long-term stability in the global copper market.
Copper remains in the top three of the most consumed metals in the world, trailing only behind iron and aluminum. The heavy focus on green energy metals for power generation, transmission, and transportation will only increase the demand. Clean energy initiatives in the United States, Canada, and Europe have already begun to drive demand for copper, cobalt and lithium. As other countries develop similar initiatives, demand will outweigh global supply."
Volume is low because confidence is low. The BoD must be aware that sentiment is ebbing with the rig amplifying this. Okay the rig needed a thorough workover and unfortunately its highlighted faults. Tai not testing basement for me was a blow as its clear that the fractured basement is the where the payload is, but being lined we can drill into that basement again is a positive. We need this rig fixed, we need confidence that the drill can be as successful as Noble in reaching the TD. Over to LB...
Https://www.youtube.com/watch?v=lf1iVXuP6w8&t=301s
Sorry forgot to post video.
I agree skip, that's a decent interview, as its CLEAR to me that the fractures in the basements are the target, they have found that out...at last!
To me to move slightly drill location means they are aiming for the fracture and tbh I think its a better prospect now, dyor.