Member Info for CrustyPete

Cannot get a price to sell in any volume.... MM's are crooks. If they quote a 3m market size they should at least honour it.

And all of our very worst suspicions now realised - what a feckin' waste of space our BoD is - they have demonstrated what we all knew to be true - that they exercise absolutely no control of our destiny whatsoever and further financing is now nailed on.... at what price, who knows.

I said the other day that this share is moribund and here is the proof.

I have recently sold half - I will now be selling the other half.

But you have been telling us the same old rubbish for months sushi, so come on let's be more specific. When? This month? Next? 2026? When.... then maybe when it doesn't happen you will shut up?

Oh I see that our resident half-wit snorebollax is back with his fatuous one liners.

So, snorebollax you have yet to talk us through your assertion that now we are in Q2 the BoD no longer needs to ask shareholders before further share issues. Tell us was that a demonstration of your (self-evident) ignorance of any pertinent facts or just a bare faced lie?

Come on "fess up!

Oh and sorry, I should have pointed out that he is based in Dar es Salaam.

Wilson Makembe on himself:

"With an engineering background, I write about various industries, including Oil and gas, Mining, and Construction, and sometimes where these might overlap when it comes to real-life operations. There is more to this, and we could go on till the day ends, but we're not here for that. I'll spare you the details.

I did business development and project management in the Oil & Gas industry, and I am now working with BVC and an integrated facility management service provider to the Oil & Gas industry along with Letto, an EPC service provider strategizing in the Mining sector.

>> BVC - On a mission to create 'hassle-free' business environments, leaving you to focus on what truly matters, i.e., your core business. We are an integrated and dynamic service provider of Construction and Facility Management services to the Energy Industry, i.e., Oil & Gas.

>> Letto - An Engineering, Procurement, and Construction service provider in the Mining sector. We are your one-stop shop for your project needs."

I would expect the original budget to be sufficient even to cover the additional expenses pf the road resurfacing. The drilling of the well was held up by the need for the resurfacing but has progressed very quickly since and the target for production in H1 is still achievable (we are told). Moreover the original budgeting for $450k per drill was anticipated as providing "wiggle room" within that number and, as there appear not to have been any hiccoughs with those drills since, I think they will have sufficient surplus to cover the resurfacing work.

Interesting stuff henning.

Wilson Makembe's profile on LInkedIn:

https://www.linkedin.com/in/wilson-falco-makembe-80256b176/

Who is funding it? If the BoD are to be believed from the AGM, JV partners, Debt funding, TG and maybe, for a small proportion He1 shareholders.

Listen to the Webcast of the AGM - it is all there.

Goodnight.

I said the minimum is 16% and could be more. But any %age would require a commensurate obligation to fund the project. So if it was 50% the the TG would be obliged to fund 50% of the $75m..... or at least the majority of it.

And NO not double the current MC. $75m is equivalent of £57.6m or roughly the equivalent of the current MC (at least before today's fall). And, as I said that would be spent over a number of years; it would not be needed "up front"....

Anyway I have to leave you now - have a great evening.

With the AIM index down over 3% at various points today I think He1 did well to hold relatively form. Moreover (before possible late reported trades) only 22 million traded today so any movement is fairly irrelevant and indicative of very little- on a normal day would have had minimal if any impact.

Let's hope the current volatility across all shares and indexes is short lived and we can get back to "normality".

Good night all.

But Equilibrium_TBH you must listen to ProfitJock. He tells us that the current disappointing sp is just a creation of the MM's; an 11th hour attempt at a "shake" to enable them to complete their huge buy order! TR1 coming at any day now!! 🤣

Quite likely that the "plan" is to take NHE private - that is the only way the NHE Chair will get his £2.5m back methinks.

That NHE presentation is quite possibly the worst presentation, of any kind, that I have ever seen in my entire life!!

If I were an NHE investor I would now have given up all and any hope.

It puts our own BoD's efforts into a different perspective ☺️

I am not sure that they are worth "buying" BB - they never looked anywhere near as good as our own, in my view. Maybe if they came for free after bailing out the TG from their "problem" but would the subsequent investment offer an attractive ROCE?

Stick with what we know is a far better bet methinks.

And to think that there were people here exhorting us to ditch He1 in favour of NHE.... good grief.

You mean no longer like Mr Minchin?! I left He1 because of him and only returned after he left....

What's wrong with doing some research TG2D? The answers are there if you could be bothered to look. No wonder you are reliant on The Motley Fools view; you seemingly do not know enough to form your own opinion.

I am not sure that there are definitive answers to all of those questions you raise but some statements have been made on these subjects.

1) The final bill is estimated to be between $75 -100m over an extended period - production infrastructure, offtake facilities and the drilling of 20 -30 wells over that period, so likely to be minimum 3years.

2) Banks, JV partners and an element of equity (minimal) was the answer given at the AGM - and of course the TG. No specific numbers yet.

3) The TG will own a minimum of 16% as prescribed by the internal Rules and Reg's surrounding Mining in Tanzania; it could be more. Whatever %age they take will come with a commensurate investment requirement from them (though unlikely to include historic costs)

4) He1 has stated that the Feasibility Study cannot be revealed until the Mining License has ben formally awarded but will look to circulate the "numbers" once granted. They Company have also stated that they are in process of acquiring an Independent Third Party CPR, though currently they have not stated when that is likely to be available. My view, though not shared by everyone on the BB, is that the CPR will not be available until the Feasibility Study is released and, maybe, until further appraisal activity has been concluded - as that appraisal activity will further support the CPR.

A "Trumpian"? That is the least of his problems - our resident multi ID poster with his psychotic, schizophrenic conspiracy theories, a Trumpian?! How on earth can that come as a surrpise?! 😆

TG2D are the Motley Fool crew paying you to publicise their tripe or is your repeated posting of their in-house view simply because you have no original thoughts of your own?

The Motley Fool "recommendations" are notoriously unreliable, conservative and, or non-committal. No-one but you, it seems, gives their opinions any credibility whatsoever.