Member Info for Legalwolf

I imagine they haven’t been tweeting much because of the abuse that follows each tweet now from rightly unhappy retail investors.

Agreed Joe. But after trashing the share price with the 0.25 placing they probably can’t be bothered with the share price. Not like they own many themselves either. All imo and dyor

I think anyone holding this time round and regretting it has only themselves to blame. You’ve known about the risks and the BOD because those topics have been discussed on here endlessly.

This is a punt trade which had/has the odds stacked against it (placing overhang, poor sentiment, bad comms, wild cat drill, more money needed at the end of it, etc). It was also discussed that anyone taking the punt might have to hold on for results as there was unlikely to be a rise on spud. Therefore anyone taking the punt did so knowingly and so now it’s a case of seeing how it plays out over the coming days and weeks.

Someone should do research on how many times MOU are announced by AIM companies and how many actually then result in a definitive agreement.

This one was quite convincing though and may have been the real deal for once.

As for the discount, it was rather sly of them to make out that it was 75%, which was adding insult to injury. It should have been calculated from what the price was when they pre-announced it. All imo and dyor

I totally agree Trek re the insider dealing description and thought much the same. The scary thing is that the dominant call right now is for less regulation in London (to make it more competitive) as it is losing business to other capital markets. Race to the bottom....!

"How long will LB stick around? I suspect that they're already gone from the table - you don't release an RNS like that if you respect your JV partner."

Exactly my thoughts. This just doesn't strike the right chord and is only justified if LB are playing hardball and CMET have reacted to that. Otherwise, its totally lacking in respect and business etiquette, especially for a minnow.

This was a JV with one of the biggest players in the industry. I can't see how failing to conclude the deal with the party you have preferred for circa 6 months, and turning instead to other parties who might or might not come through is a positive development. And the bottom line is that having to commence negotiations with another party is going to add more delay. Striking a deal with multiple parties will take even longer and introduce more complexities.

Delay also risks more dilution.

A postponement would be bad for retail holders, but it won't be bad for the BOD, as they can lifestyle this for much longer than the 3 months cash runway they will be left with if they do go ahead with the drill. Therefore, it would not be a massive surprise if the drill does get postponed and the Rig gets the blame for that ("we need some more international parts"), or some other factor.

Anyway, we will find out next week. All imo and dyor

It's hard to fathom why LB would lose their exclusivity, and especially if there genuinely are other rivals bids circling around. It just doesn't make sense and is not how you would expect them to conduct their business. It's not like LB haven't had enough time to secure the deal.

You can't really fool the market. If the results at Tai were even semi encouraging, the share price would not be trading at 0.25p, nor would placees (the smart ones) be offloading so many bargain priced shares. Nor would the BOD have looked as glum as they did at the AGM. Nor would they have gone into hiding on the comms. He1 have just spun the positives out of disappointing drill results, which is what any company does in these circs. They say the Helium concentrations increased at depth, but then they haven't released those concentrations to the market for this to be assessed. And even then, wasn't 0.8% the highest concentration gas show that they had?

So unless NHE declare a discovery, there's even less reason to hold for results this time round, than there was previously. I doubt very many will be holding this all the way to results - although they will doubtless pretend on here that they will be doing just that. I think it's one final pump and dump trade (possibly), and then it will be game over, which is probably what He1 deserves given how it has conducted itself to date.

Surely they will RNS (or tweet) something next week? All imo and dyor

You need to listen to the interview given by Purebond. There was more than a hint in there that if the management don't deliver results here, Purebond will get rid of them. The reality is that BT's neck is on the line here MORE than it ever was when it was just retail shareholders to be accountable to. PB have given him £6 million of their cash, and they will expect a return, and won't endure the failures and false dawns of the past.

So they need to hit some mineralisation from this current and forthcoming drilling, otherwise they will be feeling the pressure of PB - and rightly so.

A much better situation in terms of accountability than what we had before. All imho and dyor

Either LB are on the verge of pulling out, and CMET have got this RNS out ahead of that outcome, or LB are playing hardball, and this is CMET's way of pushing back at those attempts? What I don't think is likely, is that LB and CMET are close to reaching an agreement, but CMET's BOD have nonetheless decided to issue this RNS, which won't go down well with LB - if LB have done nothing wrong here.

Needs more clarification from the company, but not good whichever way you look at it. All imo and dyor

My view hasn't changed from before Xmas, where I said there might be one more trade left in this dog (at least). I do have my doubts about the probability of such a trade, but I'm not ruling it out as a possibility. Anything is possible on AIM.

But they do need to drill in order for this "punt" trade to have any chance. And its not a foregone conclusion that they will, even with the raise. It's He1 - when has anything gone to plan.

We will find out next week anyway.

"They raised the money to drill Itumbula they have purchased and had delivered a brand new iron tough neck at great cost, so there is clearly a bark. To ask that question is just being disingenuous."

RJ - clearly there is a bit of bark left in you. But try to engage your brain here, and particularly the part that deals with memory, because you clearly have a short memory, or maybe you understandably have blocked it from your memory. So let me remind you. They raised money for Itumbula once before, and that raise did NOT result in any drilling of Itumbula now did it?

We know they have issues with the Rig, an issue with Baker Hughes. and no contingency funds. So it's not disingenuous at all to ask whether they are ready for drilling, in terms of the Rig and all else. Now they might well be ready, or they might not. This is He1 and you can't take anything for granted until its been confirmed in RNS.

3.4 billion shares in issue and more to come means this is a death by dilution share that is on its way out. But before it dies that inevitable death, does this have one more bark left in it?

We will find out next week.

Have there been MOUs on AIM with major companies and which don't amount to anything? YES there absolutely have been. Especially in that part of the world, it's common place. How am I supposed to know whether/what role the major companies play in these MOUs?

As for investors coming in, that's not a guarantee of anything. Things can still turn sour, as they seem to have done here. All imo and dyor

I would certainly expect them to put out a tweet or two. They have done so in the past, and it's to be expected really.

But, they can only really put out a tweet if/once they know for sure that the drill is going ahead as planned. The fact that they haven't put out a tweet, might suggest that they are not in that position as yet. Unless they have simply given up on trying to manage sentiment and generate interest.

The thing is that we know the old MOU is a classic tactic on AIM. Not saying that CMET have used it in that way, but if they have, they won't be the first or the last company to do so. Interesting that there were no comments from the LB group when the RNS was issued, which can often be a tell when these MOUs that fizzle out are announced. All imo and dyor

The thing is, to strike a deal of this type and magnitude with any other party is likely to take several months to conclude. That opens up the likelihood of more dilution in the interim process. Also, I thought the BOD were keen to get moving on this after lamenting the delays caused by the GSMB. So what are the BOD playing at here?

Therefore, I'm inclined to agree that it's more likely that LB aren't willing to do a deal, and rather than announce that outcome, CMET have issued the RNS now, put a positive spin on things, and are making it seem like they are the ones in the driving seat. Not convinced by it at all. All imo and dyor

That's what AIM can do to people. Much better to allocate a portion of your portfolio, whether a fixed amount or a fixed %, and allocate only that to AIM stocks. Treat it as high risk/speculative end of your portfolio. And if you must put it into one AIM stock, then invest only that amount.