Member Info for Legalwolf

Thanks for the responses (SW, Swamp, Bebeto and Zan). Let's wait for this funding RNS then.

"If the company needs to raise funds at or below the current SP it will be because the drill failed."

Skippy - I agree, but how do YOU think the company will approach this risk? Exploration is very risky, where the chances of failure are usually higher than the chances of success. Do you think He1 are so confident of success on this next drill, that they will only raise after results are known?

that shakeout they did on the friday could come back to bite them on the ****. on a duster, the share price will likely retest that low. and then any raise will have to be discounted from there. therefore, it won't be pretty. all imo

KR - that's the thing, if they hit a duster, what will they be raising for exactly and what story will they be selling to their placing investors? Tai is their only drill ready and highest probability target at Rukwa, so if that is a duster, then its game over at Rukwa, unless NHE make a discovery.

Realistically, on a duster, He1 will be pretty screwed. Rukwa is the flagship project, and they will really struggle to reinvent themselves based on Balangida and Eyasi, where they don't have any drill ready targets, so will need to raise just to do the geophysics on the! That likely means summer 2024 before they are drilling again. The market won't be kind and no way they will be raising at anywhere near 5p imo.

"No, it isn't the be all and end all because it doesn't affect the experienced, but it does screw new investors out of their hard earned as they end up panicking and selling at a loss so these sharks can buy them up cheap."

I mean, just smell the ego oozing out of Robin with this sentence. Firstly, he wants us to know that "he's experienced" and therefore knows exactly what is going on - even though he has been speculating/guessing as much as the next person, and therefore has no real clue! And then, probably to endear himself to others, he makes the claim that he's protecting "new investors". Who might they be Robin? And I'm sure they will so much better and richer for listening to your pov.

Robin should be nominated for an OBE (One Big Ego). All imo

Anyway, the floors all yours Robin. Seeing as you're all so experienced, then lead us newbies to the pr

he's here to protect "new investors"

Ah, I see that Robin Hood, protector of the people, is back with his conspiracy theories. Blaming all sorts and everyone else for the share price. One day, and it looks like that day is a long way off still, Robin might wake up and smell the coffee.

SW - who do yo think it is, or are you not able to say?

Agreed KR - plus we know they haven't purchased, because they were quizzed about this at the recent Q&A. They didn't even say that they would be buying shares. They know this is a high risk drill, with the chances of failure FAR greater than the chances of success. Why do you think Stalker is getting out now (allegedly)? He surely knows if He1 fail at Tai, it will be the end of the company as we know it. All imo and dyor

The BB does not influence the share price, but the share price does influence the BB. The selling actually started when the BB was totally buoyant and it was all mainly happy clapping and ramping. What has caused the negativity has been the MASSIVE sell off in the share price since then. Make no bones about, it has been MASSIVE selling, from very big players, who usually don't get these things wrong you would think?

What would give me confidence, would to be see equally MASSIVE size buys coming in, to show that the big players are back in and supporting the stock. Maybe they are waiting for spud confirmation, or maybe they are waiting for results, thinking there's no point taking the gamble beforehand, and waiting for results is the smarter and less riskier approach?

Bebeto - where does it say September, or is that just your personal expectation?

Zan_TM - usually like your posts, but found that one a bit difficult to comprehend (which might just be me). But surely there is a significant difference, I would suggest, between making a mistake, misleading the market and telling a "clear lie". After distinguishing them in the first part of your post, you seem to have then oddly rolled them up together in the second part of your post. It might be appropriate to talk in term of "lessons learned" and moving forward if its just a case of mistakes having been made, but how does one move on from a belief that "clear lies" had also been told, or that deliberate misleading has taken place, with that level of assuredness and positivity about the future? Surely, if you really believed that "clear lies" had been told, or GCAT has a propensity to mislead, that would make it very difficult for you feel positive about the future, or feel confident that things have changed without confirmatory RNS?

Personally, I think we are still waiting for the RNS, which wipe away the past wrongs, and allow us to move forward with confidence that the company has changed. That will/can only happen on the funding RNS. Until then, the jury remains very much out. All imo and dyor

A lot can happen on AIM and in a short space of time, but you might be right there Hop. Time is running out on the de-risking into spud strategy, and it could be this realisation that has caused the selling, as those who don't want to carry into spud/results are taking what they can now?

Or maybe the market wants confirmation of spud, because on the last update, there were still some key steps that needed confirming, such as Rig crew, testing the Rig on site, long lead items, etc. There will be a further update about this at some point. We maybe also haven't had the "banging the drum" publicity from LB, that we had with DM during the first drill. This one has felt rather low key by comparison, but that could just be the crappy market conditions for AIM juniors right now.

Deep - the ultimate sign of conviction and confidence is buying shares. If they thought they had a discovery nailed here, why have none of them put their hands in their pockets and bought shares? And why is the only one who has - Stalker - stepped down just before this drill and people are speculating about him selling down his holding. Why would he do that on the eve of there being a discovery?

No real skin in the game by LB, and she's the chief geologist, so will know more than anyone else what the discovery potential and strategy is at Tai. All imo and dyor

Think you might have spoken too soon again Coco - some large sells have continued and its not looking great for the share price at the moment. It really shouldn't be performing like this when only weeks away from drill?

Big mismatch at the moment between this BB and its expectations, and the share price reality.

Lol folks - I get attacked for supposedly going on about a fund raise, then acknowledge saying that I will try to post less about this topic, come back to the BB and what do I find, nearly all of the discussion on here continues to be about the fundraise! Couldn't make it up if I tried.

Could you de-rampers please stop talking about a fund raise. Shame RJ's taken his bat and ball home, just as I was warming to him :-)

Coco - if others are going to attack, or insinuate, then I do have the right to respond? You are quite right though, in that there is nothing new to say on the topic. Hence, I actually wasn't posting about it during the week much, let alone twice a day, but I know you lot have a tendency to exaggerate.

I have NO intention of posting about it regularly or during the week either. As I have said, let each person come to their own view about the topic, and decide for themselves what they think, how it affects their strategy (if at all) and whether they even care.

I actually think its the share price performance that is fuelling the discussion more than anything else. And whilst the share price continues to underperform to expectations, then people will obviously continue to speculate as to why, and the fund raise question will inevitably form part of those speculations. This week was an illustration of this, in that various others started to post about it in response to the share price no doubt, and it started the discussion all over again.

I suspect it will be like this going forward, until or unless the share price starts to perform to expectations and brings the positivity and optimism with it. This is just how it is in the markets and on BB. So let's hope these sellers (if it is them?) are done soon and things can return to a more positive outlook. All imo and GLA

RJ - what happens if the share price doesn't go up and they are not able to raise opportunistically at higher prices? Are you suggesting that they simply will not bother in those circumstances? Well, I don't believe that for one second. The company will of course be hoping to raise at higher levels, but if that doesn't happen, they will be forced to raise at whatever price the market gives them, at the point at which they decide to raise. To suggest otherwise is ludicrous.

Therefore, it's for each investor, or trader here, to decide for themselves whether, when and if so what price, in relation to any fund raise. It is perfectly reasonable for different people to arrive at totally different conclusions on these questions. This doesn't make one a ramper and the other a de-ramper. It is clear that there is an expectancy/concern in the market about a fund raise, and that a high number of people have it. That's a reality that will not change, no matter what debate we have on here, unless He1 say something more categorical about it, which they won't.

In these circs, and based on the info that He1 have put out, it's for each investor (or trader) to decide how the fundraise question impacts on their strategy, thinking and expectations here. Therefore, it is perfectly reasonable for different people to arrive at completely different conclusions/expectations about it.

Therefore, some of you just need to quit the 'Robin Hood - protectors of the people' type attacks on others. Chill and be content with your own interpretations about the fund raise issue, and appreciate that others will legitimately hold a different point of view. And also realise that you don't own this bb, or control the discourse on it, including through childish labelling and personal attacks on others. All imo

I would say that He1 is impossible to call now. There are too many possibilities from here. The company should have just ruled out a raise if they have no plans of raising. The fact that they have not ruled it out, means that a fund raise is on its way for sure, and its anyone's best guess as to when that will be. And without knowing this, how do you know how to approach it?

"Lorna for me has let us shareholders down by the lack of comms this last two weeks..."

Where I think she has let us down is by mentioning the fund raise in that first proactive interview after the Rig purchase announcement. There was no need to mention the topic at all, if there was no intention to raise. Having mentioned it and set the hare running, she should then have categorically ruled it out. She did not do so. She had another opportunity at the recent QA, seventeen questions no less were asked about it, and again, she didn't categorically rule it out. And that's because she isn't going to tell lies (like some on this BB).

So when it comes to the topic of a fund raise, who are WE going to listen to? Are we going to listen to the company itself, or are we going to listen to a crew of rampers on a BB with their own hidden agendas, coming out with all sorts of nonsense, which arguably flies in the face of what the company itself is indicating?

I'm going to listen to the company itself, and therefore I am fully and firmly expecting a fund raise. I believe He1 have pretty much confirmed that one will happen. Beyond this, I don't know exactly when they will raise. Therefore, I am entirely open to the possibility that they will raise AFTER spud. I agree they would obviously want to get the best price possible, but they will take whatever price they are given at the end of the day.

The large selling started weeks ago and since the price first hit 10p. It is illogical and non sensical to run a narrative whereby you argue that He1 itself is confident of success, and therefore will wait for results before raising at higher levels, and then cite its Chair, the only one with significant skin in the game, selling down his holding now and being responsible for the price falling back. These two arguments are difficult to run side by side?

At the end of the day, no one can rule anything in or out here, because the company haven't ruled anything in or out. That's the only truth as far as I am concerned. All imo and dyor

I also don't see how the alternative explanation - that Stalker and/or his associate - are the ones that have been selling down is a positive? Stalker was the only one with significant skin in the game.

I DON'T hold the naïve believe that He1 have their shareholder interests at heart. None of the current BOD have significant skin in the game, and I believe that ultimately, they will raise at whatever price the broker tells them is achievable, because that's what most AIM companies do. Everyone would hope that it will be at higher prices, but there are no guarantees about this, and it all depends on what the market. Basics and simples. All imo and dyor