Member Info for CrustyPete

Yes gordon and delays cost money - and, or, in SYN's case a hefty dilution. Just as we have seen evidenced today.

You may even be right ACE but there are two questions that you selectively choose not to address.

1) When are they likely to need it?

2) What are the Company's options to find and fund it?

Answers:

1) No time soon - 5 - 6 months at the earliest.

2) From Debt Funding and Joint Venture.... and then maybe, just maybe, a Cap raise

You are off your head HD. Too much time in the crack dens of the Far East....?

So the all the pronouncements made today in regard to development of Rukwa are pure lies and misinformation? That the BoD are deliberately misleading shareholders?

No, come on HD, explain it to the world ; then everyone will see your fantasy for exactly what it is - tosh!

So, the BoD have absolutely no intention of ever developing Rukwa, is that it? The pronouncements in today's RNS and annual statements is just pure invention? Is that what you are saying? Come on, tell us all.

HippyDaze.

So why oh why is the Ministry of Energy going to approve a mining license for a project that is not "commercial"? Why oh why would He1 even believe that there was any point applying?

Your conspiracy theories are pure invention and based on nothing but your own paranoiac imagination.

"flow rates are shocking"? Really? Please let us know what the flow rates are Revoy as the BoD have yet to publish any that I am aware of. So do you know that they are shocking or are you just inventing it?

Equally if that 100,000,000 He1 shares went to zero tomorrow morning the CFD platform would owe those shorters 100,000,000 x 1.05p.... or £1m quid. No CFD company would want to be exposed to that risk so it would hedge itself by shorting the market - hence if the market falls out of share tomorrow it has no exposure to that movement.

But enough McNol suit yourself.

Yes McNol I fully understand what they are - but it is not the shorter or trader that is relevant here, it is the CFD platform itself. It has a risk to the financial positions that it executes with its clients and will hedge that risk in the market; simple... if it is at a net risk to the extent of 100,000,000 He1 shares it would short them in the market, then it is not exposed to the book risk. If the sp went through the roof in the morning and it short clients could not pay up then the CFD provider is left nursing the loss... it will not allow itself to be exposed in that way.

But hey, you obviously seem to know best.

Bookies make the odds McNol and only one can win. It is not remotely similar.

Moreover you frequently see CFD houses quoted as shareholders or on the short "register"....

They will NOT want the total exposure to the net position McNol. Yes that exposure may be offset to some degree by the spread but certainly NOT expunged. They will hedge it, otherwise their "margin" profit is at risk.

Yes McNol but the "broker" will have the net position out to market in their own name and will not want that exposure. So will hedge that by buying or selling that net position. So if they have 500k of aggregated long positions and 1000k of aggregated short positions they will hedge the difference - i.e. they will take out a 500k short to cover the risk.

That really takes the biscuit Hippydaze - you really ought to stop taking those mind expanding drugs!! So you, without any detailed knowledge of the EWT results have managed to extrapolate from that superficial knowl,edge that they cannot possibly be commercial despite the fact that the He1 BoD have managed to complete a comprehensive feasibility study, (along with other things) and attach it as an intrinsic part of a mining license application?

So surely there will not be a cap raise with the Mining License approval because ythere won;t be a mining license approval?! Because, according to you Itumbula and, through extrapolation the whole of Rukwa, is not "commercial".....

I suggest you stop rambling HD you are making your self look a total bloody idiot.

Oh really? So that piece of news comes from your crystal ball does it? And, if not that, then what for? Please tell HippyDaze, you have us hanging off your every word...!

Well bobrad I suppose the scaremongers collective strategy is that if they shout "dilution" often enough and loud enough every day, for weeks and months eventually they might be right and then they will all be shouting "I told you so!!" Of course totally ignoring that the sp has doubled or trebled in the meantime....

Come on then HippyDaze, enlighten us. Surely you are not going to tell us that they will finance the production and off take facilities at Rukwa from dilution?! You wouldn't be that cretinous, surely?

Sorry AGM of course!! Doh!

It will be all smiles at the AGM on Friday! I wonder what the sp will be come then? 0.04p on the offer?!?

Anyone here expecting to attend? If so please, please give Roland one huge feckin' kick in the scrotum from me please... at least I will then be guaranteed to get some satisfaction from my wasted £25k. Now worth only £10k

Based on what HippyDaze? They have working capital sufficient for June 2025, all the cap they need to progress Galactica and no operational plans for Rukwa until Q2 2025 at the earliest.

So what is it they need to raise capital for?

Fingers crossed Manifesto, I hope you are right 😉