Member Info for KeithOz

Over the last year and a bit that I have been following these bulletin boards, I have noticed on most of them that a spate of ad hominen attacks starts a week or two before the release of important news. I assume this is a last ditch attempt to push the price down so that these people or their employers can get on board as cheaply as possible. So, thank you Redbox for flagging this up. You can go away and be quiet now.

The 28m 'zone of interest' (Carlin-type finely disseminated gold within the pyrite?) was from I10, not I8. I8 is obviously proving to be interesting in its own right, since they are drilling deeper than initially planned. We will possibly hear something next week.

DiamondGeazer/Soutie - It is not the PFS that is "messed up", it is the execution of the BFS. The 27th June 2019 RNS you reference contains this statement: "Site construction works is expected to commence in June 2020. Mining and processing of the ore is expected to commence in September 2021. First product shipment will occur in late October 2021" That's really all you need to know about the management team.

Rod McIllree has resigned & left the company. Thank god for that. How about the remaining board members follow his example, and we get a capable team in to handle what should be excellent projects.

Fordy - glad I'm not the only ne who tries to write with major distractions! The only thing I will pick up on, is that from my attempted translation of the last RNS, the three wells will be drilled first, then all four tested. MOU-1 is already completed for rigless testing, so could go ahead any time, but it appears they want to save money by deploying the testing team for all four together. Is this everyone else's interpretation?

I don't think it would be necessary to announce the start of a 60-day DD period, since all the details of what would happen were given in the last RNS. It is only the conclusion of the process that would need to be communicated.

I agree with some of the other comments with regard to ambiguity - is it sole exclusivity to the preferred partner, or joint exclusivity to the two mentioned? Calendar days or business days? When does the clock start?

But if everything was already clear cut, then obviously the share price would not be 7p.

IG - no 3D seismic, only 2D. 3D requires at least 10x the number of recordings as 2D, and processing costs are proportionately higher. DM famously doesn't like spending money, and believes (probably correctly) that the large trap areas and shallow depths mean that 2D is adequate. If money is not an issue, most larger companies use 3D for hydrocarbons, given its greater accuracy. Economic hydrocarbons are not normally found at the shallow depths that HE1 are drilling - the deeper you go, the greater the gas compression, but since He is 2-300x the price per volume of natural gas, this isn't so much of an issue.

There seems to be lots of speculation about buying a rig. I just can't believe that will happen, since there is a lot more to successful drilling than having a rig. You need a crew who are familiar with that specific rig and its various idiosyncrasies. This isn't just something you learn as you go. You need to perform continuous maintenance tasks while drilling, and have the various necessary parts and consumables to hand. There are huge safety implications for not doing things absolutely right, and it requires highly skilled and equipped operatives to spot things before they go wrong.

HE1 quite simply do not have the people with requisite knowledge, experience and back up facilities. No small exploration company has, since an investment of many millions is necessary to maintain a competent drilling operation. This is why there are specialist drilling companies, and why every exploration company hires in this expertise. It would be insane to DIY.

If HE1 chooses to commit commercial suicide by getting the drilling wrong a second time, don't complain you weren't warned.

PT - Yes, I realise that PVR has been busy lobbying, and am aware of the stalled licences - my real question is "Why aren't we (and our PR agency) being as effective?"

No probs, Worzel, I already knew - Alien & Afritin are on my monitor list :-)

How come PVR get themselves and Barryroe mentioned several times, but nothing at all about PRD, Mag Mell, Corrib South or Ram Head?

D220 - Mark Twain (who was also a keen investor) defined a mine as "a hole in the ground with a liar standing next to it".

TimorLeste: You have previously accused me of being an insider, unfortunately not correct, just that I have the same bush hat as DM. I have "not any longer posted technical views" for a while because (again, unfortunately) there is nothing to post about. If you look at my posting history, you will see that I 'posted technical views' on several resource companies. I am not an insider of any of them, but do have significant holdings in each because they have world class projects for commodities with huge future needs, and very good management . All just my own opinion. btw, I use my real name when posting about resource companies across social media, inc Twitter. Plenty of people know who I am.

I have been a subscriber (free) to these folks for a long time. Imho they are the best resources analysts around, although they specialise in the energy markets. Worth a read. (sorry it's a very long link)

https://blog.gorozen.com/blog/the-commodity-bull-market-has-only-just-begun?utm_campaign=Weekly%20Blog%20Notification&utm_medium=email&_hsmi=216729563&_hsenc=p2ANqtz-9vK5YlmhgnhWGUwv0Ak_l2CMFsN-FmHi14s9-fDM3HDlL9ExVkFecy_WhmHKfI-EDLQsySJ_TgUKyAmjzjRo5V2yuS9Q&utm_content=216729563&utm_source=hs_email

I have been a subscriber (free) to these folks for a long time. Imho they are the best resources analysts around, although they specialise in the energy markets. Worth a read. (sorry it's a very long link)

https://blog.gorozen.com/blog/the-commodity-bull-market-has-only-just-begun?utm_campaign=Weekly%20Blog%20Notification&utm_medium=email&_hsmi=216729563&_hsenc=p2ANqtz-9vK5YlmhgnhWGUwv0Ak_l2CMFsN-FmHi14s9-fDM3HDlL9ExVkFecy_WhmHKfI-EDLQsySJ_TgUKyAmjzjRo5V2yuS9Q&utm_content=216729563&utm_source=hs_email

The UK Investor Magazine podcast was horribly inaccurate.

I don't really need to interpret it - look at the diagrams:

https://www.kavangoresources.com/media-library/news-release-media/rns15june2022

The different geophysical methods all show the same ring structure for I8. The bottom of the four shows the location of the drill just spudding - straight into the peak of the magnetic highs, just where you would expect the highest mineralisation.

Also note the statement that the 'intriguing core' from DITDD004 has been sent for urgent assays, including fire assays, which you do for Au & PGEs.

Ditau is looking more & more interesting.

There's your starter - how about that for a ring structure?

Have you guys considered that there may be a very good reason for the apparent halt of communications? We could soon be hearing about a lot more than just completion of the next drill hole.

Sensible comment from Malcy:

"Always a danger sign when existing directors don’t want to lock-up their shares in a takeover so in my view huge congratulations to the Eco board for calling their bluff and walking away. They have been prepared to avoid any potential collateral damage to shareholders which would happen if they took the risk of the JHI directors knocking out stock ahead of the Gazania spud in September with the dilution risk that would present.

With the combination of a stake in the Canje through the existing holding in JHI, the recent successes in South Africa and the exciting corporate actions increasing Eco’s exposure down there I’m glad the board took the decision they did and of course probably told the JHI directors that they know where to find them should they change their minds…"