Member Info for Legalwolf

He looked and sounded very relaxed. Gave us a couple of near term items of newsflow to look forward to.

All will be well very shortly by the sounds of it. Still a very good low entry point here and should be an interesting close today, with bullish updates to come next week by the sounds of it!

Smart move imo and for the reasons given. A lot of people get put off when they see so many shares in issue, and it does affect share price movement, as stated in the RNS. Good time to do it now as well, ahead of better market conditions and with the newsflow to come.

"...so how do you decide and who decides whether the decline is as a result of it."

Err... the basis for the inference is quite straightforward, and I would argue, irresistible. The partnership deal with Energean was announced on 7 December. This selloff started on 7 December. Just look at the volume on that day.

Now it doesn't mean the partnership terms are bad. It could well be that particular shareholders didn't like it for other and more personal reasons.

I'm surprised they haven't given any update on the offtake interest they claimed they had in the last RNS. Are they being straight up here with the market as to what is actually going on behind the scenes with funding interest? All imo

The selling seems to have coincided with the Energean deal being announced. Therefore it is linked to Chariot in that sense.

Interesting that there haven't been any notifications if its major shareholders selling out - would they not have crossed relevant thresholds by now? Also wonder whether the Director buying is in someway linked to counteract the selling.

Crazy when you think the last placing was at 14p. We are due RNS on both onshore (approval of the JV) and offshore (confirmation of drilling), so hopefully they will kickstart the share price back into life.

Nothing in that email about discussions with potential funding partners, which is the number one issue that investors want to know about.

The selling started with the announcement of the Energean deal. I will try to scroll back to the postings for that period, but can LTH summarise why there has been such a negative reaction to it?

Anyway, I fully expect Char to bounce back with the newsflow it has coming up this year - provided it delivers on those plans. A good opportunity to pick up some cheap shares.

"The results that we have achieved from the Itumbula West-1 well, flowing helium to surface in such significant concentrations, has confirmed a globally unique helium producing province."

Pretty much the same wording in both of the recent RNS.

"We are delighted with the findings from Itumbula West-1 and the results from the down hole well testing have clearly confirmed the presence of a producing helium province in the Rukwa Rift Basin."

This is the problem that I have. Both Noble and He1 have talked about their results confirming the presence of Helium in the Basin. But if they have already made commercial discoveries at their respective prospects, then why bother making these comments about the Basin itself. Why not keep all of the focus on and talk about your commercial prospects within the Basin. It's a bit like Greatland Gold finding commercial gold at Havieron, but instead of saying so directly, focussing instead on the prospectivity of the wider Paterson region.

Last time I was in and around Chariot, SHC and The Ferret were two of the main posters here and always at odds with each other. I think one of them got the other in trouble with LSE.

Are they still around or did they sell out?

RJ - I've not suggested a raise is imminent here. I don't think it is, as they have only just raised £4.7 million. I'm thinking really of the longer term, whereby if the next stage involves more drilling, then they will need funds for that. But they could well declare a commercial discovery before then, which means the share price will go up regardless, and/or bring in funding externally.

Overall, there are still some key uncertainties here (around commerciality, next steps, and funding) which need to be ironed out before the share price can move accordingly. All imo

RJ - happy to be corrected on that, as it was a few days since I listened to the interview. But it doesn't negate the main point that I am making which is around funding for the next stage. For that we need to know what the next stage is, when it will take place, and the funding for it. Hopefully the RNS will provide some information about this.

I do think there is some ambiguity around "commercial" which is why it is being discussed on this bb. Of course if the next RNS were to remove any doubts, I would expect the market/share price to respond positively to this confirmation.

"I do see voices erring on understandable caution, but a lot of those voices have been from long time negative faces here."

Yes, but RJ, the same might be said about you always putting a positive spin on things and abandoning any caution, even when caution is warranted?

I'm not having a pop, but I am also surprised that the share price isn't much higher if a commercial discovery is already in the bag. Nor do I see that consistent with LB talking about "appraisal" drilling or re-entering the basement at Tai 3, neither of which would be options if they are ready for production.

If He1 are in the same boat, then that means they likely will need to undertake appraisal drilling as well, which brings you back to the issue of funding. Noble have it, He1 don't.

Those are fair points Skippys. He1 do seem like they are closer to the big prize than Noble. I suppose if we are questioning whether there is upside in the share price from these levels, and upside as of today, then I would say YES there is! But as Joe80 has said, the next RNS needs to be unambiguous and such that it outweighs the more longer term funding questions. That is entirely possible given how bullish He1 have been in recent times.

I agree with Joe's last post in terms of share price movement from here. Whatever the next stage is, He1 are NOT fully funded for it. The last raise was NOT for any significant exploration, but to give them some breathing space to work out their next options. When they have worked out the next stage, they will need cash for it. The only question is whether they come back to the market (and at what price), or whether some third party comes in and does the heavy lifting.

It's a pretty straightforward analysis as far as I am concerned.

RJ - the fact that Noble might have strong offtake interest did NOT stop the need for them to raise funds for appraisal. So why will it be any different for He1? I think offtake funding will come for He1, but it will be much further down the project pathway i.e. once they have proved (i.e. appraised) that they have commercial level Helium and costed out its production. He1 are not at that point, and I don't recall LB suggesting that funding to advance the next stage will come from offtakers.

I think its pre-mature to expect offtakers to come in when the company is still in the discovery stage. All imo