Member Info for dai2belts

@Deep, I wonder if they will still push how much they saved...

@Portfolio, you must have read one of my posts, as you answered one of my questions :)

Problem now is the cost of their drills and testing, neglecting the share price has finally bitten them, and in turn their LTH.. Almost a 60% drop from that announcement so far, 80% eve of results..

@Swissy, probably reading between the lines with the titles, but the chairman has work to do, sentiment is at an all time low, its his job to calm the ship..

The company should have released an update to stop the fall as the sp is crucial to the amount they can raise, but they have created a window of opportunity to short the company and remained silent while the companies value has more than halved since the announcement...

Its hard to imagine many sellers at this level as there has not been an entry point from below, but from 3p....

Stinks of forward selling loaned shares, and I suspect it all started from the 20th, when the share price failed to bounce and continued to slide.. If this is our prospective funder it does look good as it means they are sharks...

If forward selling is taking place, then He1 created a nice long window for it to take place, If it is I suspect we have a CLN to be announced, and the provider is behind the drop...

But with all that goes on it could possibly be shorts targeting the stupidity of announcing funding, especially after all the issues...loaning shares, and selling high to buy back low...

13-Dec-23 12:40:44 1.3139 9,210 Buy* 1.25 1.35 121.01 O

13-Dec-23 10:39:50 1.545 6,616,000 Unknown* 1.25 1.35 102.22k O

13-Dec-23 12:39:08 1.3139 31,284 Buy* 1.25 1.35 411.04

@X, Lorna is luring you in ... ;)

I hope Hasiba is spot on as I am sitting tight for the rebound, I also think they have a pot of cash. If they had a clean track record you would say they are giving a heads up, funding is hard to come by... But after the rig update, you suspect they are either stupid for crashing the price a 2nd time, at a really low point or crooked

@Tro, in what situations do you see He1 raising at 2p, a 33% discount is a penny..?

Not sure the assets are worth that at the moment,, $14m included $10m cash, thats in question at the moment.. But I get the idea...

The licences, I assume are intangible assets, are they individually transferable for cash?

A number were relinquished last year resulting in an impairment charge, so I assume they went back to gov who then licenced some of them out again..

@Hasiba, they have with held so much info since Lorna has been running the show, so no idea of rig costs, no break or update to drilling cost since Decembers numbers

@Hasiba, your 1st paragraph is very plausible but suggests they needlessly trashed the share price or are manipulating...

But the hot phone, maybe its just one... we have heard that one before....

I think there was about $10m in the bank end of june too..

· Group's cash position, at at 30 June 2023, was US$9,600,786

.Raised approximately US$7.86 million

So $17m on 1 drill, 3 pads & 6 months cash burn

@Twohearts, that would be something..

@Turbot, that subsidiary has just 1 share at the moment, no cash, no rig, no assets, so nothing yet has been transferred for protection...But it will be interesting to see where the raised funds go, I guess they could be held there and transferred to He1 as an unsecured loan..

But it would make sense to protect your assets, such as the rig that..thats what some small construction companies do, they go bust, get stripped but get to keep their machinery ..and start up again

@Hasiba, why not wait for the funding ?

Hasiba, your frequently posting your topping up, and have been investing a long time.. share price hammered, how do you see this playing out......

"Cement work now complete on the Itumbula well pad with the Camp set up also… …the #HE1 rig move to a new site also underway".

to A new site, suggests another site..,

Whats the full text, is there anything between those dots...

4D,, Just release an update, Offer made subject to DD, then come back saying DD said No...

@Deep, There is a video of IS correcting an interviewer that called He1 an explorer, he goes on to explain its a development company not an explorer... Hopefully he still has that confidence and will be that unsolicited funding at HorisM's 3p ;)

It will be the market figuring out the price of the incoming raise, that He1 decided to make public in advance...

Whose that, I know a company that will be venting 90% Nitrogen gas to atmosphere

@Skippy, when the rig was audited, and they paused testing, they told the market the audit was 85% complete,, not they could'nt complete that last 15% until their major issue was resolved.. People topped up on the good news..... I bet the NOMAD approved that too

When the Predator audit was completed, we had another excuse to its delay, rather than it had a court order keeping it in Kenya...

NOMAD approval is just an excuse...