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I hear it was far less - less than 2m
All of the next board rotate, that’s the idea of brining in outside help and advice as the company progresses. You should try a bit harder art !
Don’t agree prae but I respect your view - time will tell I guess
You might have a little angle there dai, if they interfered with your property then they messed up. If you want that wall to be bigger better etc then force the to do that. Also if you need a few bits done around your place then suggest to them that you were going to do those jobs yourself until they caused you such stress ffrom destroying your property - tell them that it’s a favour to you and I return you won’t raise their mistake with their clients - it a win for everyone and no court nonsense needed - if only cluff etc were so pragmatic eh?!
It had to be said sir, it just isn’t good enough. Still certain it was just echoing what large investors were saying and many here also said, I just reiterated it but from a pi perspective W let’s hope we haven’t gone from the frying pan to the fire, but I like Lorna and I respect the hell out of tullow and the people involved in it - she’s connected - that’s for sure
That’s So funny dai! I wish I could help but I’m actually a pretty **** lawyer! We all know how to write good letters but all my work is consultancy on fees for other lawyers - so rogue builders are way beyond my pay grade, in fairness most rogue builders are too much for most lawyers to handle !
Nope, no reply dai, I sent it from my company email, I’m a solicitor so I wanted them to understand the last paragraph was not an idle threat - still I imagine it simply echoed what the big boys were saying to the board behind closed doors
I did the same in a strongly worded email sent on the 30th January
Here is the entire txt of it;
To Who It May Concern,
I am a private / individual shareholder in Helium One. I hold in excess of 2 million shares and I am compelled to report my particular disgust and annoyance with how this company has been managed over the last 2 years. It is not acceptable and incompetence should not be continually rewarded.
The cash burn since the TAI 1 & 2 fiascos is simply not acceptable. Why are the management team being rewarded for abject failure to deliver upon the only reason they are there in the first place ie. to drill targets and see what is there?
The CEO is clearly far out of his depth. Can you imagine the frustration to hear Mr. Minchin repeating ad nauseum that he "does not care about the share price" and then is "delighted" to inform us of a hugely dilutory raise at a disgraceful 5p.
Even if his saving grace is that he was appointed as a Geologist CEO is bizarre, considering he identified the wrong location of the fault at Tai 1, and then proceeded to contract a rig that was woefully unfit for purpose. His comments about being careful with shareholders money are disrespectful and untrue at best, pure gaslighting and intentional deception of Shareholders at worst.
This simply is not good enough and I feel the Chairman, Mr. Stalker and the rest of the board are duty bound to intervene immediately and take steps to appoint a new CEO who can deliver the stated goal - to drill.
This 'Tanzania Buyer's Club" nonsense is a slap in the face to all of us shareholders. He is after diluting us hugely and now still doesn't want to drill despite raising 10 million at extortionate levels. Perhaps the intention is never to drill and to keep drawing down salaries for as long as it can be gotten away with.
Perhaps the board could look at the progress Regenren have made on their project by comparison. They have skilled business people leading the project and it is evident in every way.
I trust that this email will be acknowledged and in the event that it is not, I reserve the right to rely on this and future correspondence in support of any potential legal proceedings that may issue in due course.
Sounds like a terrible country to live in. Your nearest neighbours across the pond don't feel the same at all. We all do a little head scratching from time to time wondering how our usually reliable and successful (albeit bullying) big brother with a terrible criminal history turned out to be such a basket case !
He comes across as a nice guy dai, but from both a geology and ceo roles, he’s failed, thus far. He must be under huge pressure, any of us here who know how the commercial world works, there are expectations. He’s not delivered and is trying to be smart when he should be following tried and tested routes to success, I bet the vibes that his role is being reduced with both stalker and other senior management team members taking more of a role in market facing presentations, who knows what going on behind the scenes, bf management changes now would give bad market vibes esp after a decent raise. Decent in terms of money but a terrible raise overall, when he was “delighted” to highlight the raise was over subscribed at 5p I literally wanted to throw my computer out the window, delighted at 5p, Jesus wept! When he could have raised at 10p a few months back if he had full appreciation of the market etc
I hear you dai and I agree, dm made a balls of the tai 1 and tai 2 locations and subsequent drills and has proven incompetent from a business perspective to be able to deliver a drill. I’m far more confident in lb and her experience with tullow is a nice little nod to my motherlands only real successful mining company, let’s hope we have a good one here, in lb we trust these days, let’s hope dm can stay somewhat out of the way and listen to the people he has employed to fill in the gaps in his abilities, let’s see
But also dai, a ruling could be really beneficial, for example the sodes may have negotiated an amicable settlement but there were some issues that pertained to Kenyan law in that settlement that they sought the direction of the court on perhaps re deferred revenue / tax payments etc, this ruling could be what they are waiting on to execute and implement a settlement agreement and it is interesting that they have started advertising this rig clearly in the knowledge that the “ruling” is imminent, I think it’s likely a situation like this and I view it as broadly likely that it will move this rig towards being freed up - not the silver bullet we are after, but interesting nonetheless
I’ve been in practice nearly 20 years dai and a lot of it remains over my own head too!! Rulings are decisions for sure, but in my experience confident on other aspects ie the final decision etc but I have seen rulings be the end of a case also - maybe a certain division of the courts in Kenya call their decisions rulings and not judgements ??????? Who knows
No not specifically. I would more say that a ruling is an interim type of judgement. Even a judgement can be the source of an appeal until you get the the final appeal Court - which I am assuming would be the Kenyan Supreme Court. In Europe and here in Ireland we can even appeal from our Supreme Court to the European court of justice or European court human rights, so it’s the end of something - sone dispute, some issue, and while it may be the only dispute between them, it may not be and it will likely be appealable to a higher court should either party wish to do so
In other common law jurisdictions dai they are very similar. Sometimes it even depends on the manner in which the case is brought ie. Whether it’s a fully plenary case or an application under a certain stature or perhaps contingent upon another case. A ruling is the end of some argument / issue - it’s a decision of some sorts, it may be final but I would be more confident that judgement would be the end. Of course, there is always appeals so we are just guessing in a somewhat educated fashion
I’m a lawyer and in common law jurisdictions and ruling is usually interchangeable with a judgement, albeit a ruling might indicate some sort of interim or interlocutory decision, a judgement is more final. It may the end of the case or it may just be the end of a particular stage or specific application
Come on guys, its a tiny exploration company. A raise is to be expected, why the controversy? They have excellent brokers to sort this for them and all this noise about a raise is silly stuff. Getting in early is great but dilution is the price you pay with natural resource exploration co's. Place your bets ladies and gentlemen but do me a favour, stop moaning about the obvious and the necessary. GLA
Fair points all violet. I've a lot of shares here as I am a very rick orientated person, each to their own of course. Lets hope it comes good for us all.
No worries bro, Jesus a market cap of £265b would be so sweet!
He confirmed no money spent on predator rig. Cant see a placing that low. Im thinking early teens