RE: Bought more21 Nov 2023 16:17
As I understood it, Tai 3 and itumbula are their best shots. I know they have other areas highlighted but others weren't their first choice. I may be wrong because I'm far from as well researched as many but the plan was to make a discovery and then move on to the A2 tier sites from the A1 / Rukwa.
If HE1 wish to have a raise they'd have to make a very good case for it and if their best shots don't come up with the goods, just saying "we'd like to drill till we find HE" won't really cut it.
If they needed just a bit more funding to cover added costs of the delays that would be completely understandable, but it looks like they have enough cash to finish the current jobs anyway.
So what would be the argument for giving more money to HE1 should things not work out? Their licensed grounds are huge and Tanz is enormous, but they couldn't just ask for more cash to just keep going and going.
I think they must still be as confident as seismic studies allow to make a discovery in the wells they already have funding for.
Without a discovery at Tai ,or Itumbula, or fresh persuasive arguments for more money for elsewhere, would they even ask?