Member Info for Legalwolf

Placings don’t just happen overnight. They need time to arrange in the background. LB said in the interview He1 will need to raise again and we already knew that from the fact that they will have little cash left after this drill as per previous RNS. It’s beyond question or debate, other than for the stupid, of which there are quite a few on here.

If the share continues to fall then the suspicion of back to back placings will continue to grow. All imo and dyor

How much is it likely to have cost them to case the hole? Are any of these costs incurred regardless, because they needed to have the necessary personnel, equipment and parts for casing on site anyway, and in readiness to case.

Some of them will be gone soon enough, as they won't be able to raise enough money to keep their lifestyle wages going. It will be salary cuts/sacrifice first though. Probably get away with a few more raises before its deliver or bust. All imo and dyor

Why not just wait to see if it's a discovery or oblivion. What's the reason not to just wait for results now?

I've heard a AIM CEO say that "the placing was oversubscribed" is a standard thing to say and is usually a load of bs. Since then, whenever I read about oversubscribed placings, I remain sceptical. Should it to the list of classic AIM phraseology.

They keep saying the fundraise was at a 75% discount. It was actually a triple digit discount because they tanked the share price first by pre-announcing it, and are then calculating the 75% from the tanked price. Also, she never actually answered the question about why such a big discount, and only covered the timing of it. BTW - has anyone worked out why it needed to be as low as 0.25p if it was "oversubscribed" in the end?

Anyway, this placing is done and we will see what discount the next one will be done at. Won't be long to find out either. All imo and dyor

Lol the complete bs and pretence on here is incredible. Folk discussing the fundamentals and geology as if they really care about them. We all know that most will be gone well before the results are out, and won't be hanging around to find out the answers to the questions currently being discussed about whether there is a seal, discovery, etc.

Also, and i'll say it in one post as people like to count, I thought the interview was terrible. Her demeanour was low and almost defeated, she pretty much made it sound like a wildcat drill on a new theory, seemed lacking in any real conviction or belief about it ("hopeful", "it would be good to get a discovery") and by the end just looked glad to get it over and done with. I don't think she liked some of the questions.

In summary - it's a wild ride on a wild cat drill with a wild Rig. All imo and dyor

PFG - I'm out for now. It is knee jerk, but these days on AIM if I don't like the news, I act first and then re-evaluate. Probably the scars from this bear market. I didn't particularly like the RNS and given the poor comms here, my concern is about delay and CMET going all quiet in that time. I really don't see how any deal with anyone other than LB can be wrapped up quickly. These things take months to get over the line, as the LB negotiations prove.

Of course I might be wrong, and might pay the price of being so, but I'm cool with that. All imo and GLA

Thanks JP - I tried to listen back to the interviews but couldn't find the one which referred to timelines - although I did recall it. Yes, it makes sense for them to complete as much as they can so that they have as much info as possible to decide what they wish to do with the option.

I don't know what the timescale is for starting to release some results from Hilliside, but some of the junior goldies are perking up and I suspect Q1 will be a great time for any junior goldie to release some positive gold results to the market. So hopefully KAV will have something exciting to report back to us soon. In the meantime, it's just continue to accumulate at these lower levels in anticipation. All imo and dyor

Neil - it's early days but hard to see it not drifting in the days to come given today's lukewarm reaction to spud news. It will need positive results to inject some life/fomo back into it. But let's see....

I think a number of traders have bailed. Have to cut your losses early on these AIM shares otherwise you end up averaging down and losing more.

I thought he said Q1 for Nara drilling? If they are still drilling at Hillside, then isn't that a positive sign, as they wouldn't be wasting precious time and money unless they were happy with the way it's been going.

Skippy - you only have yourself to blame here for putting yourself in a state of financial and emotional loss, and acting as the ramper in chief here, so quit with the keyboard warrior antics of calling out others who tried to warn. Moreover, I have little time for people trying to dictate who can post on a public forum.

I have been in and around He1 since not long after its inception and although not invested in recent months (for reasons that I made very clear on here), I am still VERY much interested in the story and seeing how it all turns out. Naturally, I will follow it to the end. There's lessons at each step of the way. And maybe even opportunities.

The "rise on spud trade" has not worked. They are using what money they have on this drill. It sounds very much like a boom or bust 30 days coming up here. This isn't a gold junior where you might raise £1 million and it will get you the next drill programme. No, here they need to raise several million for each drill. Without positive results, I can't see them being able to raise anywhere near enough what will be needed to get back out there, even with another 75% discount.

So is this worth buying ahead of results? All imo and dyor

Skippy - a bit over emotional today with your posting. Go and take a walk or something and calm down. Take responsibility for your non stop bad decision making and assessment of He1 as well whilst you're at it.

They also need to be careful about the jurisdictional risk here. Yes they have the IML back, but in this jurisdiction, you can never rest easy. Having a Chinese company like LB on board would have helped alleviate that risk, because of the influence China (and India) have in Sri Lanka. Moreover, once you start construction, then it's very difficult for another company to muscle in, especially as CMET/JV partner would be paying their 'taxes'.

So they want to be careful here with delay. Any regime or personnel change and they could find themselves in the same situation as last year. Unlikely, but not impossible. All imo and dyor

Skippys - have to disagree. Newsflow/comms are the lifeblood of AIM shares. Whilst tweets don't mean zilch in and amongst themselves, they can and DO help with building sentiment for AIM punters. It doesn't cost anything to issue them either. If they could issue one today, why couldn't they have issued one last week showing site and Rig preps. Basically it's because they can't be bothered, and it also smacks of lifestyling. It was SO MUCH better under DM.

Hopefully there will be an interview from LB to accompany this RNS. All imo and dyor

I'm sure if she had any good news she would share it, but she doesn't have any, because the projects are rampathons, and she's run out of ramp fuel for them, and likely knows that as well. Accept this harsh reality, learn the bitter lessons that come with it and stop waiting for a bus that isn't going to arrive. All imo and dyor

What do folk think of the timescale of 4 -5 weeks? I understand that TD is around 850m (but that's based on He1's dubious geology estimates) and so unless the Rig breaks down again, should they not be at TD in half that time?

Who was/were the investors that supported the last placing?