Member Info for Legalwolf

I agree with you that He1 probably don't care about their (retail) shareholders. They proved that with the Friday RNS and the shakeout. From that day onwards, I told myself to expect the unexpected with this drill, and know my place in the food chain. I also reckon the Nomad's running the show anyway, not LB. She seems nervous every time I watch her, and gives me the feeling of something else going on in the background. All imo and dyor

D2B - what difference does it make whether Noble are raising for their first well, second well, or for the future? I'm invested in He1 (or was) not them.

I am just relieved that I acted on my genuine doubts, didn't listen to anyone else, and took my profits, before they were taken away from me - although I waited longer than I should have yesterday. I gave enough warning to others as well, not that any of them are my responsibility. The responsibility, if there is any, lies with Coco, RJ and the like who were saying they "knew" as "100% FACT" that there is no placing.

Yes, where is Coco today? We need his learned views, optimism and NT to Buys more than ever!

Yes, provided the raise goes through - and there is no reason to think it won't - then these levels are a steal for a soon to be cashed up company, focussing on what they consider is almost guaranteed low hanging gold in Zim, and then their best prospect in the KCB. That simply HAS to be an upside scenario from here? All imo and dyor

7.8p is a level, so always going to have some buyers here. All depends on whether or not there is a placing afoot - we are not in the know about that, but bet my bottom dollar others will know exactly what's coming down the line! Given the disadvantage we have as retail, best to just let it do it's thing and see where it settles. All imo

Fair enough. The cash position is certainly an issue and they will need to address it. The question is what they lose by drilling first and raising afterwards, against what they gain by doing it the other way round?

People don't apply logic and get caught up in BB nonsense. IF He1 have adopted a strategy of ONLY raising after drill, then this surely means they want the share price to go up before the drill. In order to help this happen, their strategy would surely be to rule out a fund raise before drill, in clear and unambiguous terms, so the market can buy in confidence before then. They have not done that. Why?

In plain and simple school playground language "is that because they are thick?" or is it because this is not actually their strategy, and is not NHE's strategy either.

And is knowing or anticipating this, the reason why a lot of the smart money has exited en masse already? All imo and dyor

Broken to the downside. I'd say its nailed on that market is expecting a fund raise, as there is NO other reason that I can see based on yesterday's presentation.

The thing is that strictly speaking, it's not really about whether He1 will or won't do a placing, its more whether the market is "thinking" or "debating" whether they might do. Once this kind of concern is out there, it's effect can be the same as if the LB had confirmed that there would be a placing.

Psychology and all that..... all imo and dyor.

Update: I've sold half of my remaining small position, as it's breaking to the downside. Does feel like something is a afoot with He1.

I will have a look at this myself when I get a chance, but is all or any of the stockpiled gold from 2022, accounted for in 2023 figures?

I think we have to wait for NHE's explanation for this raise. Maybe all the monies from the previous raise didn't come through, or maybe they are raising now because they don't want to run the risk of waiting until after their drill, even though they have been making out as if they have a very high COS. Sort of like what many companies would do?

Is the market watching this and maybe expecting He1 to do the same? All imo and dyor

AIM 'investors' never cease to amaze me. I did try to warn people but they were more interested in attacking and calling me out. Notice how Coco is now very cleverly fading into the background, maybe his work is done/game is up? NT to Sell?

D2B - I started selling down my position on Monday, after getting no re-assurance over the weekend over the headroom issue, and only stick on the BB. I left some in as I wanted to wait for yesterday's presentation, which I sold afterwards after they pretty much said they will raise, were cagey and I saw the bull trap on the chart.

If I smell danger, which I often do in the AIM Casino, I act first and question later.

I still have a small amount in, as you never know on AIM, and can never be certain of anything. I loaded up at 6p levels so still have some headroom.

Went into He1 with long term position in mind, but now will only adopt a swing trade mindset to it. 15p to 20p is now GONE. It simply can't happen when there's the risk of a raise. In fact, we might already have seen the pre spud top in and that's why (as I suspected) all the smart money exited. I adopt the attitude that price action is controlled by the smart money, and we retail either try to anticipate their intentions and ride with them, or we get crushed by them.

What happens now? Only the nomad/BOD know, because only they know what they are planning with the raise. Too many unknowns here for He1 to be anything other than a smaller swing trade from hereon.

But feel a lot more relaxed than I was last week, and now watching it without the same pressure or emotion. All imo and dyor

Dan - don't disagree, but I thought the strategy was to raise following Lolworth and Hurricane programs and hopefully at higher prices. Therefore, I'm left wondering why this is all becoming an issue on this BB now, when we have previously all discussed this exhaustively and arrived at the above understanding.

We know we have agenda led trolls on here, and we should try not to play to their agenda. All imo and dyor

Have I missed something here. I thought ECR were fully funded for Lolworth and Hurricane work? What has changed? Have ECR backtracked on this?

Lol guys. See how we've gone from "I know for 100% FACT there is no raise" posts over the weekend, to now openly discussing the possibilities....

They are not stupid and if they had no plans to raise and capitalise on Tai C, they would have just said so. Instead, they have told us that they DO need cash for the period after Tai C. But this is NOT the same as saying they will (only) raise AFTER Tai C. Anyone reading it that way is trying to put the most positive interpretation on it IMO, which doesn't mean they will turn out to be incorrect. But the truth is, He1 have left the 'WHEN' question very unclear. So I think the placing could land anything between now and October and there are too many imponderables to be sure of when, whether it will be pre spud, during the drill or afterwards.

Therefore, because I can't be sure of this, it's definitely an additional risk factor to throw into the de-risking strategy for me and unless they saying anything more about the topic, which I don't think they will now, I am proceeding on this basis. It would not surprise me if this explains why there's been a LOT of selling already, because many have seen this as the safest time to take profits and not take the chance of a placing grenade landing in the time remaining and taking the opportunity away. Therefore, I do feel its the 'courage of our conviction' time here now over the placing issue.

I wouldn't listen to anyone on the BB though, just listen to the presentation and make up your own mind, about what they said, what they didn't say, and how they said it, etc. All imo and dyor

KR - the only thing that gives pause for thought is the headroom question, which they did NOT answer. If He1 wanted to get a raise away very quickly, either in the run up to spud, or in the period to final results from the lab, how do they achieve this IF any fund raise has to go to a vote first? By announcing a vote, they are effectively then announcing the fund raise, and wouldn't this scupper any strategy to capitalise and be "opportunistic" about the price of any raise? Can it be done on a subject to shareholder approval basis - a bit like Noble have done with their raise? But even then, as soon as you announce that, will the share price not fall to the intended raise price anyway?

Anyway, like I said, there are NO answers here, only guesswork and speculations, and that's as good as its going to get for us all in terms of assessment and decision making. Each to their own and all that. All imo and dyor

It's not about being fully funded for this drill, which they have confirmed they are several times now. It's about them raising for the period after this drill, which we now know they will be doing. We just don't know when, how, etc and we aren't going to know because company's don't announce such details beforehand.

All we can say here is that there will be a raise at SOME point and its for each of us to make our own assessment as to when and how we think that might be, and how that affects our thinking and decision making, if at all. He1 have kept it (suitably and appropriately?) vague and non committal, as you might expect them to, meaning that I'm not sure anyone on here can reliably say what will or won't happen, and when. All imo and dyor

I wonder if there is a third possibility here, which is that they can release interim findings which appear positive (such as gas shows), then get a raise away based on these, before they have to declare the final results from the laboratory (positive or negative)? This approach is less of a gamble and covers them for either success or failure? I didn't find it easy to follow what she was saying, but LB spoke about only being able to get so far with the results from the site, and having to send samples off to the Labs before anything could be confirmed or declared, or something to this effect.

I was also intrigued by LB referring to the nomad, when asked about what information they would share with the market during the drill.

My overall feeling is that they whilst they have (just about) enough working capital for this drill, they will have a strategy lined up with the brokers to ensure that they emerge from this drill also fully funded for the next stage, whatever that might be. We won't know much more than this now or know exactly what they have in mind, when, how and how much. We will just find out when it happens. All imo and dyor

In my experience, companies only finalise and publish a Prospectus when they have fully resolved these matters. Maybe GCAT have prepared the Prospectus on a worse case scenario basis, because RM has confirmed that it will allow for future dilution, as well as absorb the past and present dilution.

Again, all this is why I have said and decided its safest to just wait for it to be issued and see what will happen here. I didn't think I would still be waiting in August 2023 though. All imo and dyor