Member Info for Legalwolf

It was asked at the end and answered by Sarah Cope. She said all of the Directors have "historically" supported the company and depending on their personal circs will do so in the future.

They are probably now in a closed period in the run up to drill, so my guess is they will now only take shares as options or as part of the next fund raise (on a success case). All imo and dyor

I don't know, I will listen to it again, but wasn't it the Skittish question that resulted in LB saying they have "budget constraints". I think that's the closest we got to any indication of the cash position.

Share price response is positive - can we smash through the resistance now please!

Every possibility that its GCAT that has held it up, because it has needed to finalise its dilution needs, present and future, which will then determine the finalised Prospectus. For example, in the recent Q&A, did RM not say that they were once again renegotiating with Mill End? All imo

Bebeto - agreed, but they've already had several weeks to a few months? First draft was submitted in April 2023.

RJ - time to wake up and smell the coffee/market. I think one of the factors holding the share price back "could" be the concern, legitimate or totally baseless, of a fundraise in Q3. Therefore, its in our interests that anything that could be holding the share price back, or is a concern for a segment of the market, is removed by the BOD.

Now of course any company in our position would want to raise "opportunistically", but if that opportunity doesn't arrive, as it hasn't as yet in terms of the share price, then what will He1 do in that situation? Surely their cash position, rather than their preference for raising at higher levels, is ultimately what will determine any future raise i.e. a needs must approach. And just have a look at PRD - what price their share price reached and what price they ultimately had to raise at. Not saying this will happen to He1, but you can't take these things for granted imo.

So I would like the issue resolved tomorrow by the BOD, but each to their own. All imo

What's the single biggest thing that people are hoping to get from tomorrow's presentation?

For me, I am hoping that LB will definitively and unequivocally rule out any fund raise. Many are saying she has done so already, and/or there is no headroom. If so, then no reason why LB can't just re-emphasise that there are no plans to raise in the run up to the drill. If we get this, I'm not overly concerned by having to wait a short while longer for spud.

Close second for me are JV/offtake interest news, or more realistically, to hear about some exciting forward plans that He1 have.

If there really are NO plans to raise, whether because they are fully funded, have no headroom, or whatever other reason, it would be an own goal for LB not just say so. If she doesn't say anything about it at all, I do think the market might that to mean a YES. So as Coco has said, just come out and put the issue to bed, once and for all.

"Certain investment news platforms have ceased all coverage, no more news, social media coverage or interviews."

Yet you can't name a single one?

I'll be looking to see what LB says tomorrow about the raise/funding issue. I don't even mind spud running into October, if she rules out any raise. Certain posters are adamant that there is not even any headroom for a raise. They might be right, but then if that is true, it should make it even easier for LB to rule out a raise tomorrow.

I really hope she does.

Never mind Rig crew, or a raise, or long lead items, or the COS, the most troubling thing right now is that we didn't get any "NTs to Buy" today. That's two days in a row now.

Hopefully we will get some tomorrow after a confidence restoring presentation from the He1 team. Share price looks poised to react accordingly. All imo

Which ones specifically?

I think its looking increasingly likely now that both He1 and NHE drills will overlap with each other? Do people agree and if so, is this a good thing, bad thing or an entirely irrelevant/neutral factor?

Hopefully the two companies have a collaboration agreement on ramping up the excitement levels :-)

Yes, the funding might not be dependent on the Prospectus, but that doesn't mean the Prospectus might not be dependent on the funding?

The financing party are seeking Royalty payments, not payments in shares. Therefore, I can see why they won't need to worry about that side of things. But for GCAT, until it doesn't know what financing cash it has, will it be able to decide what its dilutive needs will be going forward?

That's my only point, and it's more a question rather than a statement. And if RM has said the Prospectus will be issued beforehand or regardless, then maybe they already put the contingencies into the Prospectus. All imo

I don't know about that Skippy. The odds favoured a continuing move up and therefore the expectations of traders would have been to the upside. We have traders on here - like Wyn for example - and they were buying. The sells have been very large, frequent and non stop, and they have occurred throughout this range, including near its bottom. It could be the MM repositioning themselves for the next leg up, but not sure its small traders alone controlling the price movement?

Anyway, it matters not what the cause is, what matters is what needs to happen to get the share price moving upwards again. I agree that an essential start towards that is that we need a top performance tomorrow, with very high confidence expressed in a September spud AND re-affirming that there will be no raise during this drill. That's what I will be looking for, and I imagine many others. All imo and dyor

It's anybody's guess really as to what is holding the price back. Maybe the market is still wanting more re-assurance/evidence that we are on track for a September spud, in terms of having the Crew in place, long lead items, the Rig has been tested on site, etc. Therefore, the market could be waiting for more updates in these areas to be provided, or even waiting for a spud date to be confirmed.

I personally don't think it is the above, because it would not explain the selling to me. The updates that we have had in the above areas of doubt from He1 have all been reasonably positive. In fact, in this week's interview, we got near enough to a spud date when LB said "second half of September". So whilst I could understand people waiting for confirmation in these areas before buying, it is harder to understand people selling, and especially the amount of selling that has gone on. All imo

It HAS to be this quarter surely? Otherwise it will be another example of RM saying one thing and then not delivering it. It also impacts the Prospectus, in that will, or can, GCAT issue that without first getting the financing over the line?

Zan_TM - a lot of the information here is coming from the CEO. So if you don’t trust him then it becomes problematic. How do you know the financing is close, for example, as much of that is coming from the CEO.

Coco - just saying. If you are gonna dish it out then be prepared to get it get it back. Your posts today were more Coco the Clown than anything else. Good comedy value but not much else.

How comes you didn’t go with NT to buy today? Maybe tomorrow hey? Keep up the positivity Coco, but try not to make it less like a Groundhog Day sketch that’s all.

PB have already given KAV £1.4 million (Tranche 1) and informed KAV that they will be proceeding with the remaining £4.6 million (Tranche 2). Tranche 2 needs some work, including a Prospectus, before it can be finalised. This is what KAV are doing now, as I understand it. BT said something about August in a previous interview. They will need to update the website with the status of the projects and add in Zim - because that will take all of the focus for the rest of this year, with KCB early next year.

I'd expect news in the next 4-6 weeks. The fact that BT is still tweeting away is good isn't it? All imo and dyor

https://www.lse.co.uk/rns/KAV/completion-of-16314million-financing-axpust6fqd1x5vy.html