Member Info for Legalwolf

Yes, just re-read the RNS and it was covered at the very end of it:

"Kavango will now also finalise the prospectus for completion of the £4.6million investment from Purebond that will move ahead on the terms agreed in May."

Is this likely to impact on Stage 2 of PB's 'investment' at 1p and raising that cash from them?

Very disappointing outcome, but that comes with the territory of junior exploration. Was news obviously leaked though as their were big exits before the RNS? All imo

If you listen to the interview carefully and properly, LB is clearly saying that there will be no raise in the short term, and she led with this point, as another positive in favour of He1 and for its shareholders. I suspect she only mentioned it to dispel any such concerns. And there is no authority/headroom for it either.

Coco - if you wish to get personal, despite calling for positivity than let's get a few things straight. I have been positive at all stages in recent weeks and months and have countered any negativity right up until Friday's RNS, as you well know. That RNS was a shocker and frustrated most LTH. We were quite entitled to vent our frustrations. Unless anyone had insider knowledge, I don't think most loyal shareholders saw the U turn RNS coming on Monday. And as LB just appears to have admitted in the interview, the Rig purchase was known about and weeks in the making. Friday's RNS was like a grenade, and of course it was going to generate a reaction.

Are you trying to make yourself out to be some kind of sage, wiser and better than anyone else, and ramper captain of the BB. If that's what your ego and personality needs than go for it. But most people will know that you are just ramping your own investment (and will continue to do so at all stages up until you exit) and therefore lack any real balance or credibility for that reason. All imo

Sdg - that's so precise!

Sorry pressed send by accident. Meant to say the following:

Okay, it's just a bit of fun (and boy do we deserve to have a bit of fun now), but what do folk think will be our closing price this week. I'll go for 9-10p.

Okay, it's just a bit of fun (and boy do we deserve to have a bit of fun now), but what do folk think

Rig already in Tanzania and will arrive at Rukwa in a matter of days! Looks like we will beat NHE to spud after all - even though this is maybe not all that much of a big deal?

That's brill - many thanks to you both.

Yes, they have undoubtedly purchased the Rig with other drills in mind. Not just at Rukwa, but I also recall LB speaking with enthusiasm about early signs from our Balangida acreage. Did we miss a trick here with NHE? Had we purchased this Rig from the outset, could they have been our first Rig hire clients? Alternatively, have NHE missed a trick by not purchasing a Rig given they are saying they have a number of targets (string of pearls) to drill?

I still believe the best possible outcome from here, and the one that would most drive sentiment and the share price outside exploration results, would be to sell the Rig and property, and avoid the need for any raise, until after we return to QLD in 2024. If ECR can raise £500 to 700k from these sales, I am hoping it will fund at least one more drilling campaign in Q4 or Q1 2024. I hope this is doable, given that we are drilling with our own Rig.

If AH came out and said this was indeed the plan/strategy, I think that in itself would give the share price a lift. Maybe we should be putting it to ECR?

I think most shareholders will accept raises if the initial drilling results at Hurricane and/or Lolworth are encouraging, because a discovery at either would be transformational. All imo

That would be great Jaybike. I have listened to recent interviews and was left with a different impression or unclear about this, so it would be great to have it cleared up. Also, for those of you who have said that MR is good at responding to emails, do you email him directly or through the company's info email address? Thanks

Yes, the comms will play a very key part in how things go from here. Things have been very low profile in terms of market awareness because of the difficulties over the Rig. Therefore, He1 have some catching up and making up to do with their comms. I would imagine that all of their efforts have been on securing the Rig, that hopefully now they can return to promoting the big event and drumming up the interest.

Starting with some interviews this week!

We don't want to be outdone or outshone by our noisy neighbours here!

Troajan - the unreliability of its 'buys and sells' data is probably the worst aspect of reliance on the LSE platform. I don't pretend to understand the reasons why.

Thanks for that Dan. The ideal situation here would be to continue to get encouraging samples from Lolworth, which then whets the appetite for a maiden drilling programme at Lolworth in 2024 - similar to the anticipation SOME of us have for our maiden drilling at Hurricane. If we get decent results from Hurricane (and we can debate what decent means in this context), this will then set us up nicely for returning to both projects in 2024.

The bonus/icing on the cake announcements during this period for me, will be the sale of the Rig and/or the property. If monies generated from either of these gives us enough funds to return to the above projects in 2024 without raising, then that's the best outcome achieved from here. I really hope that's the strategy that AH has in mind here. All imo and GLA

I did wonder whether it was an 'orchestrated' shakeout of some sort, which do happen, and are a legitimate trading method. For me, the potentially tell tale clue was in the very high volume that came in on Friday, after that very poor RNS led to the (expected) initial sell off. Whilst that RNS left many thinking that Q3 drilling was looking like it was in the balance, somewhat paradoxically, it also resulted in some of the largest volume buying immediately afterwards. Was that buying just ordinary investors/traders seeing an opportunity for very cheap shares?

Naturally, some will be suspicious about it, and maybe with good reason, and this isn't the first time on this BB where we have had to discuss leaky ship suspicions.

But no point overly dwelling on such things, and it will all be forgotten about very soon, as we move forward and finally have a drill to look forward to.

Maybe the extra month will be good for the share price, giving it more room to breath and rise into the drill. One thing that definitely needs to change is the comms. Surprised that we didn't get any interviews from any of the He1 team today - unless I missed it - given that it was their biggest announcement since Tai 1 drilling. All imo

Too early to say imo as still some large sells at these levels - two more have seemingly gone through. But who would be selling at these levels. Typical of AIM I guess. All imo

As I recall, they specifically removed their authority to raise at the AGM. Which means no raise. You will be able to find the relevant notice on their website. All imo and dyor

So it looks like both companies will now spud their first wells at the same time, or close to in September. I'm sure they will each be relatively happy with this. In fact, there might be some benefits, in that if either company encounters Helium shows on the way down to TD, and even though they are different targets, this will be seen as a positive also for the other company?