Member Info for Legalwolf

Surely this lands next week?

PFG - not doubting that at all, but at least let the market know what is actually going on - even a "we remain in active discussions with funding parties...."

Come on JF - get real will you. Do you really think CMET wouldn't be shouting from the rooftops if they were in active and advanced negotiations with funders right now? It's their job to stimulate interest in the company and so why would they remain silent about it. After all, they have told the market that THEY chose to walk away from the market leader because they had better offers from others. Well surely they would want, indeed are duty bound, to include at least a few lines about this in the RNS.

The fact that they haven't means you have to read between the lines....

Moneymaker- it will be double that when they get to 1kg. Plus they have about £6-12 million from the Nara dump, which they will likely process by year end.

BT has tweeted that there are more deals to come. He seemed to be very excited indeed right now.

Yes it would be odd to RNS a short video presentation in advance of any significant drilling delay. Not fussed if its end of Q1 or start of Q2. April tends to be a decent month with lots of new ISA money looking for a home. News timed around then can be well received!

Come and join the gold party at KAV folks. LOADS of newsflow still to come and now a gold mining company as well as a gold explorer. Another decent RNS.

The problem is the time without any newsflow. It is difficult to hold any minor support levels without it. You are also likely to get forward selling of the next placing again.

That’s why the smart money has bailed above 2.5p whilst the dumb money has been talking commercial discovery!

That’s the reality. The herd is exiting and will now only return once He1 has raise funds for Q3. No interview from LB on that RNS either.

Best to reenter here after the company has raised its Q3 funds which will be 1p or below. Remember the money needed will be millions so the discount offered to placing ‘investors’ will have to be a massive one again. Its just how AIM works.

0.9p paid!

Fantastic news. Now a revenue generating gold mining company at the start of its revenue growth!

Thanks RJ and Joe80 - understood re timescale. Any idea how much the EWT is going to cost? Am I right in thinking the cost of any appraisal well at Itumbula is going to be similar to the drilling just completed?

PFG - yes, it's becoming quite clear that the MOU partner walked, rather than CMET called time on them. Were it otherwise, they would have been telling us about progress of their discussions with these other interested funders/offtakers. Not giving any update at all about funding is hard to reconcile with the previous update.

"What I would love right now is an RNS telling us they have enough funds to complete the EWT. Now that would switch the whole picture around but until they do..."

Agreed. Why do folk think they aren't doing the EWT until Q3? Is it a funding thing, long lead item thing, or something else? They did say they were going to move as quickly as possible to commercialise this, and then tell us it's EWT in Q3?

NHE are moving much faster than this!

"Would you agree with me that having an off taker to fund development down the line would be better than a JV or what would you prefer to see?"

I was just having a tease RJ. Truth be told, few on here deserve to see a successful outcome as much as posters like you.

I'm inclined to agree with you that offtake funding would be better than giving a large slice away via a JV. But a JV wouldn't be a bad alternative, and if they got a well known major on board, it would deliver a further rocket to the share price.

My comments are only about this next period. As a trader, I don't look much beyond a 6 month horizon, because on AIM, you often can't because of the constant twists and turns.

Trek - you are being generous when you say they placed at 72% discount. The truth is that the discount was much higher than this because they first crashed the share price and calculated the discount from the crashed price!!!

Joe - leave poor RJ alone. He's the 'defender of the faith' on here and works selflessly and tirelessly to hack away at all the (imaginary) shorters and de-rampers. If he does irreparable damage to his standing as a poster in the process, it matters not, he's a man on a mission.

I think we should call him Jorah Jolly, and He1 is his Khaleesi (cf GoT).

The fact that someone here is a trader or a investor has nothing to do with it. For both traders and investors, the reality remains the same, which is this share is still effective a junior in its pre-commercial discovery phase, with some promising initial results, but needing the all important validation through further testing and appraisal.

Furthermore, it's an AIM share so will be at the mercy of the usual volatility, which itself will be controlled by factors such as newsflow, sentiment, funding issues, delay in next operational activity, etc.

What many of us are saying is that during a 4+ month hiatus in operational activity, and needing funding, it is hard to see this AIM share somehow defy what usually happens in such situations on AIM.

But it is just a pov, and could be wrong, like many of the pov that were expressed on here before this RNS by all and sundry!

Dear CEO RJ - unfortunately for us, and He1, you are not the CEO of a top offtake partner who can recommend that your company stumps up the cash for this. Also unfortunate, is that there is no actual CEO that appears willing to follow your bs hype, and jump in here before knowing if there is a commercially viable resource. Otherwise, the RNS would not have to concede the following:

"CONDITIONAL upon these results, the Company will THEN be in a position to ADVANCE discussions with off-takers and industry partners..."

So that is clear - no interpretation needed, no biased reading of it, just the plain truth from He1 itself!

Now moving onto the placing, as well as it being an obvious 'risk', can I also direct you to Trek's post for further and better particulars.

Signs of life at long last - and recruiting new staff as well!