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Excellent update. Drilling to commence in a matter of weeks and also dispels the fud created about the lab results. In fact there might even be more helium than was recorded by the onsite equipment.

Sound very confident that they will have excellent EWT results.

It's a horribly vague and unconvincing RNS, in trying to minimise the damage caused by the JV going belly up, and yet trying to make out that there's now a better scenario of going it alone. If going it alone is even possible and better, then why have we wasted 18 months pursuing a JV. Furthermore, how does CMET find the £30 million?

So what we need is some actual detail, and not some wishy washy aspirational talk of going it alone, which provides no details or timescales for how and when that might happen. Otherwise, it's going to be a path of pump and dump around drilling activity and reverting back to a junior explorer. Money to be made if you are trading it, but not sure how it can be a viable LTH without that £30 million. All imo and dyor

This is going to be the single most important and pivotal operational activity carried out by He1 since its IPO. If the EWT proves up a commercial discovery, then this will multibag, of that there is little doubt. But even before we get to the EWT, we are highly likely to get some good news from drilling deeper into the basement, and could multibag on that alone.

Then there's the possibility of bagging just on anticipation of the either of the above outcomes.

The lower you enter into this scenario, the more you stand to gain from it and the less risk for reward you take on. And there's not much time to hesitate either, as we are only weeks away from commencement of drilling. All imo and GLA

Why do you waste yours reading it? Hit filter and move on.

I don't think so JF - a number of posters have expressed doubts about the veracity of the so called LB Group. I mean, even now CMET keep referring to the LB Group, which makes no sense at all. They have 18 months or so to agree a deal, and haven't done so, even allowing Sheffield to steal a march on them. So we are entitled to ask 'what exactly is going on with LB Group's interest, is it for real, or is it just marketing and ramping bs'?

Like PFG, I'm not expecting much from this event, other than the most vague references to other parties being interested, or other options available, who/which will have suddenly and mysteriously appeared out of the blue, even though all the focus has been on Sheffield, and despite not having been mentioned at all before. Yes, trading share at best until some genuine financing lands from somewhere. All imo and dyor

The LB thing just doesn't add up. Allegedly, they had agreed the outline terms through the non binding MOU. They are the largest company in their space, and so why would they allow a company like Sheffield (a minnow in comparison to them) to come and steal a march on them? Note that we never actually got any confirmation from LB Group of their interest.

Is it possible that Sheffield introduced the LB Group as a delaying tactic because they wanted our project but were not in a position to take it on because they had just committed to Thunderbird, and so their connection with LB Group were used to agree a worthless MOU (which is what it turned out to be) as a stop gap measure, but the whole thing fell apart at the 11th hour?

I mean, if Sheffield really liked the project, and thought they had the means to JV it, why would they have introduced LB Group in the first place? That doesn't make business sense and is not what greedy business people usually do. Just some musings from me.

Probably placing shares being flushed out.

Does it really matter who is or isn't doing the buying. The bottom line is that the price is stirring into life in anticipation of news. The actual spread is much tighter than the advertised spread, which is another good sign. Let's hope for a strong close to the week and into July.

A successful EWT will be massive for He1, will shake off some of the considerable doubts about the company, and launch it into a huge new growth phase. GLA

Some of the main questions for me (and not necessarily to be expressed in this way) would include:

1) In hindsight, was the decision to go with Sheffield over LB the right one?

2) Is the BOD operating in CMET's best interest or Sheffield's? Who's calling the shots, Griffin or you?

3) Where exactly are LB Group and Sheffield right now. Completely out, or still in the running?

4) What is the current plan and envisaged timescale to get funding?

5) If it's go it alone, how can that be done and why hasn't it been pursued already?

6) How will the SL authorities feel about the delay in getting to production?

7) Is a PFS still going to be needed? If so, costs and timescale.

8) Drilling plans, costs and timescale?

On the move, as we approach the month of July, when drilling and EWT news and commencement is expected. Today might be the last chance to get in at these levels for this next stage in the He1 journey. FOMO Friday? GLA

KAT reminds me of WSBN - very much a spike share. I'm sure it has few more spikes left in it yet as it gets moving on its Hanetti project and/or announces any new projects. Don't think the involvement of Heddle, Johnson and Wade should be overlooked. They will have something brewing. Hanetti is also shared with POW.

Thanks KR. Let’s hope there is no further delay then.

The more important news is the project and what Kat plans to do next, when and where.

I also listened to the AGM recording. I think the whole premise behind the question of whether or not he misled about the placing is a mistaken one. He absolutely did not leave the impression that a placing was imminent - in fact he spoke about having enough cash to get to 2025 and then a loan facility beyond that if needed. To most listeners, this would suggest that no imminent placing.

However, any CEO who pre-announces or indicates a looming placing is committing financial suicide. The share price would tank instantly on such confirmation, and the eventual placing would then be even more painful for shareholders.

Just ask holders of HE1, whose BOD effectively pre-announced a placing, when trading at ~ 5p, and ended up doing the placing at 0.25p because the share price tanked in response to pre-announcing the fund raise.

So it's a bit naïve to expect CEOs to answer these placing questions directly (or honestly), because they sort of are damned if they do and damned if they don't. And usually protecting the shareholders and share price means not forewarning of a placing.

BTW I entered on the placing and so have no need to defend or criticise this particular CEO. All imo

This is very significant if true. Glad I added today as well.

Do you have a link to the website in question?

BTW folks - do GDR find out at the same time as everybody else i.e. 31 July? I would have thought that NICE would inform them beforehand as they are a key stakeholder, in which case, might we get the RNS before 31 July?

Wouldn't surprise me if there's an upbeat Argentina RNS tomorrow, but with more delay re Columbia melted into it.

Well, there has been talk that the fund raise was done early to cover any delay with DQE. But equally, it could be argued that he wouldn't have put £100k of his own money into the fund raise if there was going to be a delay, not to mention all the placing investors who are in for the longer term. But it does worry me that DQE are only available early Q3, because that really means July to early August. Presumably that's enough time to sort out Heron 1? Not sure why elections would cause logistical issues though as opposed to administrative?

Overall, I guess the question is whether MATD should be a quick trade, or do you risk waiting to find out if DQE have managed to mobilise next month post election.

KR - I think the Tory party have more chance of a getting a win than you right now! Or even the MRLP candidates....

I dunno about that. Bad news could land on MATD any time in July and indeed early in July, whereas for GDR it has a whole month to rise before news hits on 31 July (good or bad). So that might give more time for GDR to rise, and it hit 2p already when news was expected on 10 July.

If MATD news is good though (i.e. DQE do mobilise in July), then it will fly. But it's been plagued with delays already and you wouldn't be surprised if another such delay occurred. They have already said that DQE are only available in early Q3. How long will the crew need to sort out the well?

Is it finally getting ready to pop and going to give us a FOMO Friday tomorrow?