Member Info for Legalwolf

Gap fill?

I suspect this is a trader's/MM rise to flush out as many more higher priced shares as they can. IF the market thought a discovery was on the way to being announced, it would not be a limp rise to 6p, but a powerful and rapid move with huge volume towards 10p.

The gas shows, diluted or not, are way too low to signal they have commercial quantities of Helium. That's why Noble didn't seem ecstatic with their drill, and have seemingly kicked the can down the road by saying they will only release true Helium concentration once results are back from the lab, which will take "months". Suddenly the ramping company go all responsible on us.

Will He1 do the same next week when they announce their results, or have they genuinely found large quantities of Helium?

CEO bought about £70k as well last week. I think KAV is a good bet for a significant rise over the coming months.

I'm sure Newmont will be watching very closely as well. Get the results in and then the JV.

If you're referring to the trust factor, then that's not an opinion, but a known fact! LOTs of folk don't (fully) trust the BOD and arguably with good reason. This BB has spent a LOT of time discussing such issues in recent months (and before). Now, this doesn't prove that the muted share price reaction is to do with trust issues, but I agree with GB that it will be a factor for some (many?) in the market, who aren't going to enter here until definitive results are reported - "show me the Helium" so to speak. Arguably, it's the same with Noble as well, because pre-drilling they built up a reputation for DM style ramping. That approach is coming back to hit them now I suspect.

I think trust (and caution that arises from that) is more of a factor than caution arising from any bear market - this is opinion. All imo and dyor

That's right Blubay - let's hope He1's handling (or should that be Baker Hughes?) is much better, as I don't think it will go down too well if He1 turn around and offer the same explanation next week.

"The market at present just doesn’t trust the board unfortunately until results..."

I think that's one of the best points made today and no doubt true imo.

Blubay - I am most probably confused, but I was referring to the following from Noble's ASX announcement:

"Three of the reservoir intervals were selected for representative sampling and over the weekend a small amount of gas was successfully recovered at surface from each of the three samples, with concentrations of helium estimated to be within the middle of the range of expectations1. However, there is significant evidence of air contamination, potentially from the onsite testing facilities and the Company considers it prudent to wait for the analysis of the downhole samples, which will now be sent for offsite testing under laboratory conditions."

Are we expecting to get the true concentrations next week? Noble didn't release this information saying that due to "air contamination" it would need independent verification from the labs. Will He1 follow suit?

Needs a close above 2.5p. Would expect to see that happen in the run up to results. When are they expected - Q1 2024?

Blubay - thanks for the response. Not interpreting anything, but posing some of the questions that (might) arise from that RNS for answers/discussion.

I'm also left wondering about the Rig. Have they just come up with a cover story because they knew a third RNS about the Rig would tank the share price. I mean only drilling another 3 metres after all that effort doesn't sit right with me. Presumably they could have issued this RNS on Monday then if they only did another 3 metres? All imo and dyor

I'm also not surprised. The situation is as follows:

1) They only managed to drill an additional 3metres and decided to call it quits there. This was NOT the positive outcome that was hoped for.

2) Can we be sure that the problems encountered, only drilling 3 metres (and hinting that Itumbula could be off) has nothing to do with the Rig? Joe80 - thoughts please?

3) The most elevated Helium show encountered seems to have been only 30ppm (if you take background to be 5ppm). Does this indicate the potential for a commercial level discovery? Nobody has actually answered or commented on the very low level of Helium encountered in the shows, and why that's a positive nonetheless?

4) No interview as yet from LB - if she's delighted with the outcome then let's hear why, get an update on Itumbula and on the Rig?

Until the market doesn't get re-assurances in the above areas, how realistic is it to expect positive share price movement? Arguably, the share price is performing logically, which is to wait to see what's actually what here? All imo and dyor

“The decision to drill a second well at the Itumbula site will be contingent on the insights gained from the wireline operations at Tai-3.”

That’s according to Proactive but not quite what the RNS said?

“It would have been helpful to know the historical significance of 6 times helium shows from the company in the update.”

I think Zak has nailed it here and hopefully LB will explain in her interview later this morning.

Listening to that video it looks like the best show they had was 6 x background atmospheric levels then. Is that going to be anywhere near commercial levels? Isn’t it also much lower than the 2% they achieved at Tai1?

I see that Noble’s share price actually finished down as well.

What is the market not liking here then?

They only drilled another 3 metres after fixing the Rig - does that sound right or good?

They only drilled another 3 meters since the last update and then called TD after encountering problems. Is that basically the update?

Strange time to be selling KAV shares - they have just commenced drilling and have an exciting 6 months ahead!

Wow that is conviction and confidence for you. Things are looking good here for sure.

Yes, I was thinking that myself. Made me wonder whether it is an open market transaction or how delayed it has been? Ridiculous given that the at market quote is 0.84 for £1k!