Member Info for Legalwolf

I agree the bickering is not good for the BB. I've done no more than respond to personal attacks. However, because we have a Presentation coming up on Wednesday, where hopefully the answers will be provided, there is little to be gained by continuing with the 'placing or not, can they, can't they' discussion on here until then. I ONLY raised the issue out of genuine doubt and to help me with my own decision making. Ever since the AGM, I've thought like many of you that the placing door is firmly shut, because we had no headroom without a vote. But then when LB suggested they would look at an "opportunistic" raise, and with the recent price action, it made me want to just double check my understanding. Therefore, I did some reading and researching around the topic, and even went back and checked our AGM documentation. And that's when it occurred to me about raising on a pre-emptive basis with EXISTING shareholders, which I believe will not need a vote as it is already provided for by the company's Articles? I am sure most can appreciate that this is all complicated stuff (we are BVI incorporated as well), and there are also loopholes etc. So rather than remain in uncertainty, and arrive at the wrong answer, and be hit with the unexpected, when it comes to MY money, I would much rather just ask. And it was perfectly reasonable to ask about it on here, in the belief that someone would know the answer. After all, if posters are going to loudly proclaim that there is "zero headroom for ANY kind of raise" and attack others for questioning the accuracy of such firm statements, they should be able to answer this definitively and without hesitation right? Otherwise, who is misleading who here - the questioner or the answerer?

Anyway, we have a presentation on Wednesday, and so lets see whether and what He1 say about this topic. I won't post anymore about this particular topic, as I have no desire to fuel toxicity and bickering on the BB, especially if the definitive answer that I sought is not forthcoming amongst all the unfriendly fire. All imo and dyor

"I think I will stop reading and posting here and let you guys deal with such criminals"

Who are you kidding? What you actually mean is that you realise that you have been outed on this particular account and therefore can't keep trolling on it, and now you intend to reappear in another guise. I've just scrolled through your posting history on here to see if it looks like classic trolling type posts. Guess what, I got my answer just from reading the first dozen or so. A nice bit of introspection with the reference to "criminals" though.

You can change the account you use, but maybe ask someone older and wiser to help you with the actual content and quality of your ramping, or use chat gpt. Because at the moment it's just chat s h t from you.

Confirmation of Hurricane drilling should, hopefully, do it. I think that's the news that most are waiting for?

Cybertron - all you are doing is outing yourself on here. If it bothers you so much, then hit filter, but don't tell me whether, when and what to post. I don't stand for that kind of nonsense and will continue posting about whatever I want to post, and however often I want to post. If I feel like posting questions about the placing, that is EXACTLY what I will do. The more trolls tell me not to, the MORE I will just continue to do so.

Kindly hit filter and be done with it.

I've also wondered about Coco. At first I regarded him as just an ordinary ramper type poster/investor, but otherwise innocent. But I started to get suspicious about him after his reaction to 'that Friday RNS'. Not even the most staunchest and loyal of us were feeling anything other than utter dejection after that Friday RNS. I firmly believe that was an orchestrated shakeout. I was saying so in the days leading up to it. Little did I know the part that He1 itself would play in its execution.

I've been in and around He1 since day dot. In that time, I have come to view it as a dirty company which has engaged in dirty antics throughout, leaking information at all times, and with lots of insider trading going on. Maybe its no different to the rest of AIM companies. None of this stuff gets regulated or monitored anyway!

No one is telling me that when He1 hit us all with that Friday RNS - and we were the intended target - that He1 didn't know the contents of the Monday RNS? Only a complete fool would think they decided and sorted the Rig RNS over the weekend. And yet Coco would have us all believe, the Coco who bought shares at that very moment, that it was all perfectly kosher! And then ridicule anyone for even wondering otherwise.

It wouldn't surprise me if such posters are now helping the very same volume that came in on 'that Friday RNS', to exit their large positions now, at the expense of the rest of us again.

These bleeding trolls attack me when I raise the alarm or question the narrative they peddle, but are in all likelihood the real devils and trolls themselves. Unbelievable, but goes with the territory I guess. All imo and dyor.

Sdg - funnily enough, I also agree with much of that as well. However, some "doubt" has recently crept into my mind from recent price action (HNW exiting in large amounts) and not being sure whether He1 can raise with its EXISTING HNWs without needing a vote? To know that even this door is firmly closed without a vote would likely end the debate. As would clarification/confirmation from LB next week. So let's see whether and what she says about this. A breakout from this consolidation could depend on it?

More generally, whatever the position over headroom and votes, I am VERY surprised if He1 have indeed decided, through choice or circumstances, not to do a further raise until after spud. That does seem risky to me, but it all depends on how much He1 will have left after this drill. Like you, I expect the share price to tank if they fail at Tai, simply because there are no other drill ready targets to turn to, meaning that in all likelihood, in a failure scenario, it could be summer 2024 before that Rig is out there again, and on AIM, the share price reaction to this realisation will be the usual unforgiving and brutal variety. All imo

Yes, taken pelters today, but water off a wolf's back. I don't let the personal attacks of weak and emotional traders and ramping trolls, get in the way of my own investment and the information that I need to obtain from others.

As far as I am concerned, on AIM, you simply have to be on a heightened state of alert at all times to protect your investment. AIM is a wild casino in a wild jungle. Expect the unexpected at all times, because often, that's what ends up happening. Therefore, I tend to be very sceptical and ultra cautious/suspicious in my approach. It's not a question of talking down my investment, rather it's about protecting it. And if I need to ask difficult questions to get the information I need to properly and fully assess the risks, and rattle a few ramping hyena cages in the process, then that's what I will do.

At the end of the day, if you don't like the posts of find any useful insights in them, or think it is de-ramping or trolling, then just hit the filter button and thereafter remain in blissful ignorance. I really couldn't care less. All imo

That weekend was absolutely justifiable. When things like that happen, only the fools amongst us forget. The rest of us register it, realise we are cannon fodder in the AIM jungle, and then tread with more caution and care than before.

And so when weeks later, I see our CEO having a nice fireside chat with the nomads who did our last placing for us, and see that a LOT of the smart money has exited at these levels, do forgive me for being on a heightened state of alert and wondering what's around the corner and when, and then thinking what I should do to risk manage through this period.

I will wait to see what LB has to say though. She mentioned "opportunistic" and only she can clarify what that means. All imo and dyor

Okay, interesting then to see what ORCP will do. I would imagine the Consolidation will need shareholder approval and a new Prospectus and Articles etc?

Yes, but is it "NT to buy"?

Honestly Coco, this is so boring.

Why don't you just call yourself "NT to Buy", because that's pretty much all you have been posting on here like a parrot the last few weeks, which hourly ramps people can also read for themselves. Nobody tries to influence others as much as you do on this BB, and it's SO obvious what you are doing. Ramping this for your own exit.

AIM investing (and He1) has taught me to expect the unexpected, that there are few plain sailing moments, and its usually twists and turns at all times. So I am looking at what those might be here, so that I can prepare my own exit strategy. Nothing more, nothing less!

Oh is it "NT to buy" again?

Jstar - I was also wondering about the share consolidation. The thing is, when Naheed was asked about share consolidation, she said that might be something that ORCP consider in the future. But when asked about a placing, she said her usual line of ORCP needs to raise funds from the market. Overall, I was not left with the impression that Naheed thinks that a share consolidation has to happen before any fund raise.

Or maybe she's not clued up on such details, but you would think she would be or will have been told this, if its true? All imo and dyor

Crusty - You are right in saying that all that is being discussed here is the likely timing of any raise. I would also add the mechanics of any raise, i.e. will they need a vote first.

"To raise now would suggest that they have little confidence of success." I'm afraid I simply do not agree with this. They are an exploration company and its a high risk business. The chances of failure are greater than the chances of success. Even the most generous interpretation of the company's own CPR on Tai will tell you that (although I bow to the geologists on this). Therefore, if they don't have a strategy for dealing with a failure at Tai, they will not be doing their jobs.

I agree that only LB can provide the answers, and we can only speculate until she does. Let's see what is said at Wednesday's event about this (if anything). All imo and dyor

BJ - how "may" Philoro still not be in play, if RM is telling us that they are very much still in play? Are you also now coming to the view that RM cannot be believed?

Why is there a funding gap? Firstly, I never said there is a gap. Secondly, I was referring again to RM's comments that financiers such as Philoro are waiting for GCAT to secure the $10 million, before they would provide their $3 million. Again, this is coming from RM.

Therefore, instead of trying to sound clever and cool with the "puppy" jibes, and coming across as a "puppy" willing to say anything to maintain the positives and talk down those of us who aren't toing this line, try instead to be clever through your own responses, because they are rather non sensical and confusing in parts. Try, that's all I ask. I am confident you can do it.

Swamp - the RNS makes clear that "The Loan Notes are convertible into new Ordinary Shares at a price of 90% of the 10-day VWAP of an ordinary share." This is a CLN and involves loaned money in return for discounted shares. I might be being dim here, but how is that not dilutive?

All imo and dyor

As you can see, I've posted about this on the He1 BB. I should maybe have posted on here instead, to get some sensible and less biased opinion, and avoid the hostilities.

Basically, are folk on here expecting He1 to raise before the Tai results are in? If not, why not?

Thanks Sdg - but not sure whether you mean your understanding is that they can raise without or vote, or can't raise without a vote.

Crustypete - the same applies if they don't raise before drill and don't go on to make a discovery at Tai.

Anyway, lets discuss over the weekend. Moreover, we have the Presentation on Wednesday, and if there is a Q&A, then no doubt this question might come up then?

"You seem to be very clever..."

Well thank you for the back handed compliment. That's very kind of you and much appreciated.

"How about you do some research"

Well, that is sort of what I am trying to do here you know, by asking on a BB, which is very much a research tool, full of tools in fact. And its probably cleverer to ask others who already know about such complex matters, rather than trying to figure them out for yourself. That way you can check and test your own understanding.

"it is not surprising you are viewed as a troll..."

Oh the irony....

Brilliant post and totally agree.

Where are you Bunsen - we know how much you like long posts. Still laughing 😂

Genuine question here - and yes I am invested - and I only ask because the answers are going to be a relevant factor to my exit strategy here. Regarding having no headroom to raise at all, is this correct? Yes, they will need a special resolution to be voted through first, but I though this only applied to issuing shares to NEW shareholders. Don't the Company's Articles allow them to issue shares for cash to EXISTING shareholders, without it needing a shareholder vote? If so, they could do this relatively quickly through the brokers?

Even if this is theoretically correct - and like I said, I don't know if it is and hence why I am asking - would it be realistic to raise significant funds only through existing holders?

Mature responses appreciated please. Like I said, a genuine enquiry to help me with possibilities down the road here.

Also I'm happy to revisit this 'ugly and distasteful topic' over the weekend, if it's not really what we want to be discussing on a potential FOMO Friday. I am fully committed to diversity and inclusion when it comes to BB discussion, and if today is Ramper Day ("NT to buy", "Breaking out", "Wouldn't want to be out of this over the weekend", "massive buys", "RNS incoming" etc) then I'm all for it. Share price is looking good folks :-)

All imo and dyor

Just seen them. Linked to the placing in some way, or trades between MM? Otherwise, I'm very surprised they have not moved the price.