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Why are they not tweeting anything from Itumbula if they are gearing up to drill it over the next 10 days or so? You would have thought that they would be keen to restore some sentiment/excitement?

That's why I asked about the sentinel images - has Skittish given up with He1?

Thanks PP - I will take a look at each of them.

Hi PP - HNY. Read your 2024 forecast with interest. What would be your favoured Uranium and precious metals stock picks?

SS - exactly, but we already know that and it didn't need re-iterating. The RNS made it seem like this year will simply be about DFS and it's not clear whether and when offtake will land, after previously seeming like it was much closer.

And Bres keep mentioning "non dilutive", which is likely to make some worry about for how long it will remain "non dilutive".

You wouldn't be surprised if the raise ends up going on wages for the next X years, and not drilling. Anything is possible here. Share price could do with some BHA of its own.

What news from the sentinel images? Even they have stopped....

I read the RNS this morning and thought it was a bit of a nothing RNS. Felt like it was issued because it was the new year, rather than because there was anything significantly new in it.

No arguments from me Joe80 on your 10-14% estimate. It is consistent with what I actually wrote:

"you are going to struggle to sensibly, or justifiably, come up with a %COS that is much higher than what the CPR gave you for Tai?"

I can't see how this investment can be about the COS. Firstly, there is no CPR re Itumbula, and no other COS figure from anywhere else. Secondly, He1 has only recently come up with a new theory (basement fault theory), which it wants to test. There is no independent critique of this theory. Thirdly, when it comes to geology, He1 has hardly got anything correct to date? Fourthly, the COS for Tai, which had all this data, was only 16%. It turned out that even 16% was too high, because NONE of the targets that were drilled were successful. They were dusters. Fifthly, He1 have always stated that Tai was their highest probability target. That's why it was drilled first and second.

Against this backdrop, how can anyone make a persuasive argument that they are investing into He1 because of COS at Itumbula? For any sane and sensible individual, the COS factor would actually make you avoid this share, either because there is no reliable information about it, or if you are making an educated guess about COS at Itumbula, you are going to struggle to sensibly, or justifiably, come up with a %COS that is much higher than what the CPR gave you for Tai? All imo

Good posts from Wyn and Claus today. But before this new round of the game can be played, they need to fix the Rig first. If there is no positive update about the Rig when the market opens on 2 Jan, or any other comms, then expect the speculation and biting of fingernails to commence. This is He1 after all - rarely does any stated plan come together without issues. Maybe it will be different in 2024. All imo and GLA

Nothing to do with hindsight, it happened in real time over a few weeks in front of our very eyes. Only the 0.25p at the end was a shock, but there was plenty of time to bail out before then.

I would imagine he sold out. Most sensible and experienced investors don't end up allowing their holdings get to 0.25p, and ending up like many on the He1 bb. If they do, then not sure they are worth following. All imo

Thanks PFG - let's hope this time it lives up to its promises, and we don't have to endure the same trials and tribulations as before. But it does look like the jurisdictional risks have been addressed now, and a JV with a Chinese company should help pre-empt future such issues. Meaning we can focus now on the fundamentals and realising them.

I'm back in with an initial investment here. Hope to add more on progress made. If they manage to get the JV over the line, than this will re-rate accordingly. GLA

As BT has said in his tweet, this is a perfect time to be drilling for gold. It just needs some decent results to kickstart this. There aren't many shares floating around at these cheap levels, and so it will move quickly if the results are half decent, which BT has suggested they will be.

I remember the fallout from ADV (the 95% COS). It was even worse than He1, with at least one story of someone becoming suicidal. Very difficult when you read stuff like that. As He1 has demonstrated, AIM can be a rotten apple and usually is. Often the biggest danger to your holdings are the BOD themselves. Takes a while to realise all this and then factor it in.

A placing at 0.25p was criminal and totally avoidable, but still they did it and wiped their loyal shareholders out.

Very few trustworthy operations on AIM. All imo

Goldgirl - "DON'T DO IT". It is one thing losing your own money in this share, as ultimately you (mostly) just have to deal with yourself (and the consequences to yourself) in the aftermath. But it is a completely different situation to risk the money of a loved one, and thereby drag them down with you. In fact, it is borderline treachery towards your loved one to do something like this with their hard earned money, unless they are filthy rich and £3k is totally insignificant to them.

As others have said, this is a complete gamble/punt. So only put in what you can afford to lose, because there is a fair chance that you will lose it.

And if you simply can't stop yourself from putting in more, than maybe only do that if the trade starts to move in your direction. At least that way you have a better chance of adding to a winning trade, rather than throwing more money into a losing one. All the best

Let’s see Troajan. Let’s see

You can’t compare KAV and He1. Kav have just raised £6 million. So you can invest without the worry of a fund raise. He1 are in between placings with billions of cheap shares to churn through. This time there is no run up to drill. No Rig mobilisation period.

On 3 January they could RNS to say they have spudded and then you will end up holding into results. And in February they will need the cash again. Will they wait for results before raising again?

If He1 were cashed up and this was the first of two or three drills and they were fully funded for them then yes this would be a good time to get in.

So it’s a very risky trade. All imo and dyor

Well done Clausewitz - great post and refreshing to finally read a well reasoned and balanced post on here, covering the likely risks as well as the rewards.

I also agree with RJ to treat this as a fresh trade - but not necessarily some of his analysis. What won’t change with the fresh trade imho is the clamour for the exit door in the name of de-risking. That’s what 90% of folk on here said they were going to do in the run up to Tai 3 spud. I suspect that’s what many will intend to do again this time around.

But this time there will hardly be any run up to spud and the next RNS might even confirm they have spudded. So again this fresh trade might inadvertently turn into a prayer on Itumbula results.

So yes beware indeed. All imo and dyor

Yes, that's fair enough Trojan. KAV have talked big in the past and not delivered under this CEO. Tbh, most AIM companies are like that though. As you say, much will depend on the results they get from this gold drilling. It's not quite wildcat in that the projects they are drilling are known to contain gold which has been mined, but I take your point.

Maybe it's a case of wait to see what their results are, but if they are half decent, then I do think the stock will make a decent move up. There aren't many shares floating around at these levels, and only 40% of the free float is available to trade.

Let's see what happens....