Member Info for Legalwolf

No point trying to decipher wth is going on with the results at He1 (or Noble) - because you never will - just trade the stock!

Bring it on KAV!

https://x.com/Ben_Turney/status/1802307508628844936

It is certainly a big area and KAV have a lot of ground, but I understand that AIM listed ARC have drilled in the KCB and hit copper mineralisation, using some of same geological modelling as KAV are now using. We have the added plus of having DC leading the exploration. So I remain very hopeful that KAV will hit some copper in the dozen or so holes they are drilling as part of this campaign. I'll be adding on this pullback, because I do really believe we have a company defining second half of the year coming up, on both the gold and the copper projects. With the amount of work that is planned, I am confident that there will be some share price boosting results delivered during this period. But let's see and GLA

With the Rig arrival, it means we will likely get a KCB drilling RNS next week. Therefore, good time to add, because drilling for gold and copper will likely mean that a positive drill results RNS could land any time in the coming months. GLA

At the end of the day, we are here to make money. Drilling in May is a completely different scenario to drilling in September. The former would have made us money - undoubtedly. What we now need to consider is whether this delay still means we will make money by holding or buying in now. This question turns NOT on patience - we can have that in abundance - but on the risk of dilution. The longer this deal takes, the more likely that dilution will hit before the drilling. That's the worry really.

On AIM, the single biggest factor to determining whether you make or lose money is your timing. And this in turn depends on whether you buy into a company that is fully funded for the next programme of works (in this case drilling), or is going to or might need to raise funds to get to that point. That's the risk unless or until BG tells us otherwise. All imo and dyor

Yes, looks almost inevitable that HE1 will hit 1p now. That's what happens once a placing is out of the way, sentiment changes and it's back to a ramp fest and rise. Will look to add on the next pullback.

I took some partials on HEX today as well. Will exit the rest in the 30s hopefully - if it gets there.

Hi KR - sorry for the delayed response. Char's latest RNS has basically confirmed that they have enough cash until July, but are taking some cost cutting measures and looking at financing options as well. Some have interpreted this to mean a likely placing, others are saying the BOD won't dilute ahead of a massive drill, and will get some non dilutive financing in through their other assets.

I have decided to exit with the little gains I had left and re-assess. The drill coming up in August is MASSIVE. But the problem remains the cash position. Char are NOT due any more cash from ENRG until some months after the drilling and as part of FID. What if the drilling, even if described as appraisal, disappoints? What if ENRG decide to play the slow game because Char is in a distressed financial position?

So there are some risks with Char that I'm presently mulling over. Whilst I rarely hold for drill results anyway, I don't like to take the risk of being hit by a placing - as you guys well know ;-)

Bid into 26 and Ask at 27. Could make a new high today?

Into the 30s by month end?

STM - lots of other stuff in the report has also been RNS'd in the past, so that's not really any good reason. Financing is one of the key aspects of these reports, and normally, if they have sorted out strategic investment, it's one of the things to advertise and 'boast' about in the report i.e bang the drum. Just like he has done by referencing the DFC. If you don't follow Bres, then you are left thinking it is running out of cash on reading this report, so its and own goal from that pov as well. Can't complain about a subdued market if your own reports can't even get across your financial position. All imo

First thing I also noticed was no mention of the strategic and African investors and waiting on Prospectus. Why omit that?

Another fomo Friday incoming here tomorrow?

PFG - look what happened to CMET’s non binding MOU. That looked more specific and detailed than Bres’s, but still didn’t result in anything. MOU generally have a bad rep on junior/AIM shares and are misused to ramp. Not saying that is the case here but not worth the paper they are written on imho.

Read the RNS again closely folks. It first makes clear that “discussions” and “negotiations” are continuing. Then assuming these lead to an agreement, the paperwork needs “finalisation”. You can’t do the latter until you have concluded the former. Can’t see all this being wrapped up in June.

Then read the next section of the RNS on logistics and planning. No mention there of drilling.

I think BG overcooked this at the start, and is now letting us know that it’s going to take some time. Can see it extending way beyond June, but let’s see. He said extend into June which only makes sense if it will be concluded in June.

KR - give it a chance, you’ve only been in it for two seconds. There was a lot of profit taking/sell on news and then HE1 threw a spanner in the works by getting their placing done much earlier than expected.

Now both will compete for the same money/punters over the next two months or so.

Thanks Whimax - understood.

Just normal trending price action. We looked to push up, but were met with selling higher up on the scoping study (sell on news) and some money also likely switching over to the He1 placing. So just a normal consolidation now and rebuilding for the next leg up hopefully. Good place to top up for those still building or not currently in.

Hi Whimax - I don't get the same re-assurance from that section as you do. Firstly, how do we know their mitigating measures are going to be successful and/or sufficient to manage the gap? Secondly, where they say "however, it also acknowledges that this short term funding is not, at the present time, in place.” This also implies to me that the outcome is as yet unknown, which is why I queried whether it needs a follow up statement.

I would suggest it does need a follow up, or some confirmation that all is well, otherwise we are all left guessing about the success and adequacy (or otherwise) of their current cost cutting measures.

Moreover, Anchois now feels like a real boom or bust situation for Chariot, and even if the drill is successful, can Chariot actually survive without raising before FID decision and money comes through, because they run out in July, the drill will be in August, and FID and money will take a few months at least, even assuming Energean do move as quickly as they can.

Well there needs to be an announcement by July, as to how they are going to cover the funding gap. The report made clear that the Anchois money is longer term.

Jimmy - is that a Telegram Group that you trust, as it's quite easy to make stuff up? Has anyone on here been in comms with the company. If one wanted to make their own enquiries, are Chariot good at replying?