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Coming up here for sure. BG has pulled a corker here. No upfront payment yet full ownership of Anza is an outstanding result from where OMI found itself. Better than anyone could have hoped for really. BG has also announced immediate drilling to come at Pepas, with a very quick turnaround time for assay results. So double bonus here. Also, new ISA allowances coming into play as well, so this news and drilling programme is all very well timed.

This is a very cheap entry point for what will surely be an action packed year at Anza, against a very high POG in the background. When this share price moves on newsflow, it does so quick and fast. Get them whilst you can I say. All imo and dyor

Should be a really good Q2 for KAV, with drilling results from Hillside and Nara, and commencement of drilling at Karakubis during the quarter as well.

With the gold spot price at record highs, I think BT just needs to carry on releasing golden newsflow from Zim at regular intervals. Today's golden tweet:

https://twitter.com/KavangoRes/status/1767110368021606717

I think Mali is caught up in the geopolitics involving Russia. Therefore, this could be a very long wait indeed before anything happens.

Yes, a rinse and repeat exercise here by the looks of it. All imo and dyor

He1 is a rinse and repeat exercise for the placees. I agree there is money to be made, but only after they sort out the next raise, or they firmly rule it out. There might be some very quick in and out trades in it, but buying and holding is leaving yourself open to the placing trap door opening and making a big loss, unless you can average down as part of the fund raise!!!

Looks like the market has made up its mind on the last announcement. As many of us predicted, this is going to drip down until He1 puts out some positive news, gets the raise out of the way, or informs the market is has no plans to raise before the EWT. Any raise now is going to be sub 1p.

Ghia - I think it is entirely possible that NHE could use He1's Rig. The two company's have collaborated in the past. There might be concerns about the reliability of the Rig, and things like having all the necessary equipment and long lead items and spares, but it will be much cheaper for NHE than going elsewhere.

The thing is, I think if NHE were interested in hiring it, we probably would have heard so by now?

The cash balance at the end of 2023 included the money raised for the Itumbula drill. That money was mostly spent on the drill, because the placing RNS told us how much the Itumbula drill was going to cost. The recent raise of 4.7 million gives the company additional working capital for 2024. But after operating costs and expenses, it is highly doubtful whether it gives them enough to do the EWT, and it definitely won't cover the costs of either re-entering Tai 3 basement or drilling an appraisal well at Itumbula. So until or unless He1 says otherwise, it is reasonable to assume that they will need to raise money for Q3 activity and beyond.

No company will know better than He1 what happens to the share price when the market fears a raise. So if they have no plans to raise before Q3, they will come out and say so, either in an interview or RNS. The simple reason for this is that even if they don't need to raise for the EWT, they will need to raise at some point after it. Therefore, they will want the share price as high as possible for when that time comes.

So unless we hear otherwise from LB/He1, expecting a raise before the EWT. All imo and dyor

The issue is not the burn rate in itself. It's whether the company is going to raise cash BEFORE it does the EWT. Cash is raised because: a) the company actually needs it to pay for the EWT, or b) the company will need cash post EWT and considers that the opportune time to raise it is before the EWT.

It is my view, and that of many, that He1 is highly likely to raise cash BEFORE it does the EWT in Q3 for either one of the above reasons. Now, I can't be certain of this, nor can I be certain that the share price is going to suffer until He1 either raises the cash for the EWT, or confirms it is fully funded already for it. It was interesting that neither the RNS nor the interview covered the funding situation. But you have to make your own judgement call about it. Mine is that I don't want a lot of money tied up here waiting to be sliced away by a discounted placing in the run up to the EWT or beforehand.

I do think that He1 should either confirm they are fully funded for the EWT work, and if they are not, they should raise the cash for it now whilst the price is higher, unless they have any other financing options, in which case they should say so. This stock has been all the way down to 0.18p, and there was a placing at 0.25p. Remember what happened last time, first the price bled down and then from the bled down level, there was a further 75% discount when the placing was announced. Now 4 months is a long time on AIM. And so it is entirely possible that the next placing could be at any price between here and 0.25p, because in the interim period, the price bleeds down in the run up to the EWT.

Once this kind of fear creeps in, we have seen what can happen and what the MM can do in the meantime.

That's why even the previously resolute 'defender of the faith' here, Mr RJ himself, has seen which way the tide is going and bailed out, leaving only his deputy, Mr Turd, holding the baton. And the Turd is a few short of a picnic, as he has proved time and time again on here. All imo and dyor

The only thing that makes sense is if they are still in fact in talks with the MOU company, and the previous RNS was to try to put pressure on them. This would better explain to me why nothing more has been said about funding since, as they can't play the same card on the MOU coming twice.

Chariot Energy also has a drill coming up in a matter of weeks, at its low risk onshore gas project in Morroco. It also has a JV with Energean (FTSE 250 company) for its flagship offshore project, where they are drilling an appraisal well to expand the discovery to above 1tcf in H2. Could be a big year for the company.

I think it's very simple. It is rarely a winning investment strategy to get involved in an AIM junior explorer knowing or suspecting that it needs to raise finance for its next key operational event, which they usually always do as they are non revenue generating. At this point, those with extreme emotional attachment, deep bias or an agenda, will argue all sorts of things such as "fully funded", or there will be a JV or offtake funding and the like. And then comes the inevitable discounted placing. Usually the placing is done, just before or during the key operational event.

Because I know He1 very well having followed it since inception, I know its pattern of raising before each operational activity. So I know that any rise in the share price, if there is to be one, can only really come AFTER the discounted placing. And that when the market gets the whiff or concern of a placing, the share price will struggle and fall.

We saw this here recently when He1 pre-announced an earlier fund raise.

He1 does burn through a lot of cash. The Rig is an added cost for the company and we heard LB talk about having a maintenance crew for it. £4.7 million is not enough for it to continuing going until Q3 and then do the EWT. LB has already told us that any outside funding is likely to come after they have a confirmed discovery. This is the usual order.

So the highest probability financing method here remains a placing, heavily discounted as per usual.

There is little to be gained, and must to be lost, investing through such a situation imho, which is why I am not.

If I make the wrong call, then fine, I just buy in at higher levels.

KAV is definitely the better bet in the short term. I think Gold might well be the outperforming sector for the next few quarters at least. Go back to He1 once it has raised its funds.

A more than decent week, reflected by the share price moving into the 0.7s, which hopefully should serve as support for now. Karakubis drilling is likely to commence in April. I don't know when we get drilling results from Hillside and Nara though? Previously BT had said assays were waiting for export clearance, but don't know if he's now indicating they are more imminent than that?

Most likely it's the local school(s) wanting to arrange an outing for the kids to see and learn about the Rig.

Previous interviews were a lot more positive sounding. Now reverted to saying the EWT is needed to establish "if" they have a discovery and its an unconventional play. Little to no talk about commerciality, or that any JV is likely just yet, which is understandable if they are yet to announce a discovery or quantify it.

Therefore, this rather reinforces what many of us have been saying, that it's going to be back to the market for a placing. Only question is when and what price it will be discounted. Can't see much happening here until after the company is cashed up again and ready to test/drill.

I think this is headed to 1.2p.

Now saying they need the EWT to prove if they have a discovery, whereas previously ramping up the "commerciality" of a discovery!!!

I completely agree JP. These recent RNS are merely the appetizers and the big news is hopefully to come. It's all about getting in ahead of positive results on those three key projects.

Tbh, this project is small in the overall scheme of things. But KAV has only just got started in Zim, and has loads planned for this year. Against the bullish backdrop of a strong gold price, fully funded, revenue generating and non dilutive financing options ahead of it, KAV should have a strong year.

It's not about this RNS, or even this quarter, but about this whole year, which if it goes well, lines KAV up strongly for 2025 as well.

For me, it's a hold, and then buy the pullbacks/lows, as this stairways upwards.