Share price found new range13 Jun 2024 11:31
Well done to all those who managed to get in early .50s and out again late .60s. This is definitely an interesting share. I’ve been in, out again at a small loss, and waiting for a new entry point as I believe that this company has more chance of succeeding than failing. As ever timing is everything.
The past…..HE1 got super excited about initial results and jumped all over the media with smiles, excitement and maybe a bit of over exuberance. Many potential investors were misled by these media releases as to the viability of this find (some would say this was naivety from HE1, others have described it as dishonesty). Share price soared and two fundraises have bought it back to its new level around .65.
What next…..Lorna has finally spoken frankly and honestly in her recent interview and clearly states where it goes from here. Funding had to happen for well tests, well tests have to happen to confirm if this play is commercial or not. Funding also needed for feasibility study. All results will be added to the surface modelling study which will finally clarify what ithere is, if it’s commercial and how to proceed. IF this is all positive then a mining license will be applied for with a view to production. If it turns out not to be commercial…..eeek.
She confirmed that well tests can’t happen for at a least a few weeks as they are still awaiting delivery on long lead items.
Based on everything that Lorna has said it looks like the share price will have little reason to rise from its current levels until we get EWT results. When will they be? Good question but based on awaiting equipment, starting testing, sending samples, collating results, would have to think a best case scenario for releasing news on results would have to be 6-10 weeks.
Can anyone offer an alternative view with some solid reasoning? Thanks.