Member Info for CrustyPete

NO I don't think it is; we were anticipating the EWT for the first interval is expected to take 1 week but we don't actually know one which day last week it began. So without that information no-one can claim that it is late surely? The last info we had stated that the surface well test equipment was set up ahead of the EWT commencement and that was only 5 days ago and even that did not say that EWT had actually commenced.

So NO, to my mind there is no delay.

I am in a similar position, low average and having already banked some profits, with money on the side if the EWT results aren't as we all hope. Consequently I am not particularly anxious; only expectant ;0)

Anyway one and all, I have had my fill of the markets for this week and I am about to get ready for an evening out, so goodnight. I wish you all a lovely weekend.

"What do they know or think that I am missing?"

I think it is far more about the perception of the risk / reward ratio. As we agree, this is shoot or bust on the EWT outcome - what are the markets expectations of the COS? What is the downside and what is the potential upside? A bit like a bookmaker calculating the odds of the horses running in the 2:30 at Goodwood ;0) You might look at a horse and think that the ODDS are generous and so put some money on it, conversely there comes a point at which those same odds do not justify the risk.

The market perceives the He1 "Odds" to be just about in the balance, so whilst there might be a bit of new money when the sp looks good it is matched by those looking to take money off the table.

The question is McNol, how confident are you in the runes that the BoD has been sending out? How confident are you that the EWT results will be positive? If you are still feeling anxious at this point in time maybe you have too much money "at risk"?

"If it’s all de-risked"?!@ Who on earth is saying that it is all de-risked?! There is huge risk and will be, until we see the EWT conclusions! So if what you are anxious about is the EWT results then that is a different thing but they are not due for at least another two weeks, so the concern is surely not about the lack of news but simply the content of the news to come?

Right now "no news is good news".... in my view.

I disagree, Jackarmy. It is simply somewhat range bound at present.

Thanks for that H4H, personally I found that very useful...

McNol, I am not sure that it is reflective of any anxiety, simply the lack of News. I don't believe there is anything to be "anxious" about; do you? I am happy just waiting. I think it is all about that earlier conversation - most people are already "in" and any rise in sp stimulates a few people to take some money off the table.

Like you and many others I am fully loaded - would you be buying more at this price and at this time? As you said you are NOT a gambler.... only the traders will be buying this now and that EWT trade is a BIG gamble, for gambling's sake.

It will need that! But that would be interesting wouldn't it?! Unfortunately my pocket money doesn't extend that far! ;0)

And NO Chesh, I am not joking, if I could short the 60m trade volume figure I would. I don't think we will get remotely close.

The lowest volume figure for the last 5 Fridays is 52million - the question for me is whether we will even reach that number?! I doubt it.

Chesh I would be amazed if it isn't Blue at the close - the MM's will ensure it, even if it requires a dodgy UT trade to make it happen! ;0)

60m is one "short" that I would be happy to put on....! ;0)

I have absolutely no doubt that the production facility study would form part of the feasibly study, that does not necessarily mean that the funding component forms part of it as well. Indeed both of these items will form part of the license application and I am pretty sure that any funding options will be contingent on that License application being successful. I would suggest that who and how the production infrastructure is funded is still in the balance as GJ said in that interview, if He1 can go it alone, they would certainly prefer to do so.

Agreed Chelsea, the two are both important influences and, whilst not directly correlated, surely closely linked...

But isn't the point is McNol that they wouldn't have to pay 1.50p - the current mark is about 1.465p dependent on size.

But H4H, the LB and GJ told us that they did not want to JV or Farm-Out and wanted to keep the asset for shareholders.... So if that Feasibility Study and License Application is to include the Financial details of the production facility and we believe the BoD that are not going to JV, where is that money coming from? Actually, whilst I do believe it will need costs and revenue details I do NOT believe it will have to provide finance and funding details.

McNol, I think that we are likely to see a combination of money raising exercises; a combination of loan, capital raise and JV. Whilst I think a loan is a possibility I cannot see that happening until there is a guaranteed revenue stream and that is never going to be until after approval of the mining license. Indeed you could argue that all bets are off until we have the mining license approval and therefore until then there is no need for further cap raise.... hence no loan and no JV. I cannot see that we will get news of funding solutions coinciding with the EWT rns.

However the question then comes as top what the BoD are going to do whilst waiting for the mining license? Will there be any other operational activity between EWT and Mining License? If so it needs funding and the only funding available will be through a traditional Cap raise. If not, then maybe we can lease the rig out and earn some income in the interim.

So if EWT is great I fully expect to see further Operational Activity and that will require funding and that won't come through a Loan or a JV - they are both for production facilities and the expectation of medium term income flows.

Just my thoughts only of course.

A Friday lull is a good time to pick up a few more in my view, who knows what might come out at the weekend?! ;0)

Yes EE, I agree and have bought a few more this morning. I am convinced this is just a temporary pause on the way up and time to take advantage.

It is not just the psychological 20p barrier at work. If you follow such things you would have seen that a number of the trading "Apps" and Social Media Traders have started to recommend Scancell as a SELL... I doubt too many holders will give this much truck (I certainly don't) but it might cause a few people to delay their purchases.

Friday closing prediction. 1.45 - 1.50p