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So if your conspiracy theory is correct Toffers they would surely only be doing so if they thought that those shares would be going up considerably in value?!

Actually, I think its nonsense.

You are right John, there has been ample opportunity over recent days to trade out of 590m shares with the volumes that we have seen. But those volumes have not been maintained today after the first 30 minutes of trading.... so what next? The market needs a stimulus to rekindle the buying interest or will even that get quashed by self interested parties?

Don't fret MJ, it'll soon be Christmas and by then we might get some news! 😜

Well I do have some experience of this with previous investments Toffers and I would agree with some of your concerns though I also believe you are exaggerating them hugely. Do recall that the TG as you call them have already included the assumed income form the He revenues in their 2025 forecast and I doubt they would wish to jeopardise that if they could avoid it. If they thought that He1 would be unable to deliver on their expectations they may wish to "channel" He1 towards a JV with a major (I have seen similar elsewhere) BUT that in my view gives me every reason to think that He1 will do that of their own volition.

As regards the Mining License application you say that if He1 don't cross all the T's and Dot all the I's "TG will throw it out and refuse to grant" - In my experience what they will actually do is to send it back and say "try again" and set the clock back to the beginning so, yes, it is important to get it right BUT I seriously doubt that they would throw it out altogether. Indeed in my experience of previous applications the applicant has actually consulted with the relevant Tanz' Govt body to ensure that all the boxes are ticked BEFORE application has been submitted.

Pjmcgra RogerJolly was referring to the six drills scheduled as part of the Galactica project (subject to necessary approvals)

But Toffers in yesterday's interview LB suggested differently - JV with off-takers will be pursued or at least investigated after the Mining License Approval. Yes Jacobs did say that they would prefer to go it alone, to retain value for shareholders no less but I think that was a sop to shareholders who were criticising him for repeated dilution(s).... I think he knows and we know that a tiny little O&G explorer in Tanzania cannot transition to "producer" status without partnering with existing specialists in their field; those who have the technical skills, balance sheet and bandwidth to manage and implement that transition.... Where he is quite right, in my view, is knowing when to engage in that conversation and that is not and never was until we knew the size of the prize that we might be giving away.

Erskine I am not disagreeing with you, except on one point - where are all these "bulls" that you speak of? I would agree that the sellers have probably dried up, hence my saying that the volatility and "churn" will likely calm down now but I still cannot see where all the "buys" you refer to are coming from?

80+ million in the first 30 minutes, 16m in the second - that is why the sp is flatlining...

Erskine you say "the PI's do not want to sell at this price". Really?! I suspect that many were scared out of their holding after the sp began tanking from 1.55p after the recent RNS.... that, compounded by the placing shares has created where we are today. As I said I do expect it to settle down but potential new investors, at least the more cautious ones, will be sitting on their hands methjnks awaiting news of the feasibility study and confirmation of "commerciality". To my mind the "big" news is already out there - yesterday's interview was "the news" and gave me all the confirmation I needed. If I were not already fully loaded I would be buying at these prices (bought some yesterday) but are there any more?

Sorry, "strong likelihood" that should have said...

Erskine, when 90% of the shares in issue are held by PI's there is the strong of the majority of the 5.9 billion shares in issue being churned through the market in very quick order.... How many of those 5-9 billion are in "sticky" hands? Many have top sliced, many have been beared/scared out, many have moved on after the EWT results etc etc.... We have seen circa 4.5 billion traded in the last 10 trading days (since the sp hit 2.1p) of which I am sure some 500+m are the Placing shares, so I do expect it to settle down eventually BUT with the recent volatility trading volumes are always going to be high - there is self-evidently a direct correlation between the two.

Share-lending is a regulated activity hopsta and it is contrary to FCA rules for a regulated entity to market regulated activities without agreement from the recipient. I would be strongly inclined to report them....

I suspect they are an unregulated company.

And that is the nub of the issue, the placing shares. We have seen over 80 million shares traded in the first 30 minutes and mostly Buys - if there is no big sell off of placing shares this has a good chance of continuing its rise and creating some upward momentum.

Here's hoping.

We know that the mining license application will be submitted before the 17th and I hope we would get sight of some of the underlying assumptions and numbers around the feasibility study. We also have anticipated developments on the Galactica project in coming weeks (OGDP approval on 25th September), with the possibility of the first well being drilled in October assuming a positive hearing decision and successful permit application.

Apologies Magoo but how is SOLG "commercial" ? From what I can see it has never earned a cent of income and has operated at a loss for the past 5 years.

"Now everyone remember drilling the fist one"

That was an EXPLORATION WELL you muppet!! It bears absolutely no relevant comparison to a development well in terms of cost, complexity hances of success or just about anything else! Do you just not recognise that? Do you really not have a feckin' clue or do you just not care what cr4p you spout?

WKW you keep spouting the same old shyte without knowing any of the relevant details.

You say "yes its project that need 20-30 more wells for positive outcome" - you do not know that - they ahve simply stated that a development plan would involve a 20 -30 well drill programme, you have no idea how many will be required to make it profitable.

You admit that you don't know what a development well will cost so any statement you make about its success or otherwise, profitability etc is based on absolutely nothing. The cost of a development well in the US we know from the Galactica project is less than $450k; it will be more in Tanzania BUT we own our own Rig so, allowing for some wiggle room, maybe $1m per well and we can drill them quickly - 5 - 10 per annum. So a $30m total outlay for a likely income of $50+m per annum once complete and for how long? In perpetuity perhaps, dependent on the basin modeling.

That is a compelling investment case for any investor and the ROCE would be tremendous.

Will it be that good? We will not know until we have seen the details of the feasibility study but we have been told that the "economics" look positive and they are confident of raising capital after the License approval.

So rather than run off at the mouth decrying the profitability or otherwise of the project why not just STFU until the BoD have made the details known?

But "no" Blubay I think it was meant as a Rhetorical question... as in, "would you put all your investment eggs in one basket? So why oh why would you, could you expect He1 to do the same?" - as in the Galactica investment.

Only the very "committed" Blubay - or maybe those that ought to be! 😂

They also raised more money with the recent raise than the immediate, anticipated costs of the Galactica project, so there is excess there too.