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Skippy - "Our SP shows us that the market isn't convinced and that should be enough incentive to get it sorted."

Worth noting that our share price was actually below 7p when we announced the first Rig contract (22 May 2021). So arguably, the share price is actually doing better this time round already? And with a lot more shares in issue than two years ago.

I'm sorry, but whilst I completely understand anxieties caused over an 18 month wait, I really don't see how a Monday 5 June announcement by NHE, that they finally have funding sorted out, justifies any NEW anxiety over the Rig only two days later, and when NHE are doing a presentation tomorrow and will say a lot more.

But each to their own and GLA

KR - I still entertain doubts about whether the farmout was ever the preferred option, as opposed to a cover story to make the placing more palatable. NHE knew what the cost of the drilling would be, when they signed the LOI with Sofori, yet still pursued a farmout that would give away 50%, as opposed to the 18% they are now taking in dilution.

I think the main obstacles in the way of getting a Rig for both companies will have been 1) funding, and 2) finding a Rig operator willing to drill a single hole at an affordable price. Both of these obstacles have only recently been overcome. So how much of the past problems/obstacles are still relevant to the current situation?

But yes, until its inked, folk will remain restless and I get that and feel some of it myself. I'm expecting an 'all is well' presentation from NHE tonight, resulting in a bounce tomorrow. GLA

I completely get that Herdie. I guess most are fed up and drained by what has been a very long and excruciating wait, and just want it done and and over with now. But I'm thinking more of what is actually best and better for my investment (i.e. the share price), and I believe that is having some time in between announcements, rather than they all come very quickly together. But I'm also tired of the wait as well.

I can't understand why folk are so anxious to get the Rig RNS this week. Shares continue to be accumulated at this level on anticipation of that announcement. A few more days or even week or so of this accumulation does us no harm in the long run and is beneficial.

Therefore, all I'm looking for from tonight's presentation is a bullish update from NHE on the Rig. One which confirms that everything is very much on track, including timescales, and the Rig RNS is on its way. This in itself will fuel the fire of anticipation and I don't mind that fire smouldering away for a little while longer yet.

Therefore, I don't need or necessarily want to hear that it will be this week, and I will be content if its actually going to be end of next week or something like that. There's now plenty of time to mobilise because it's now only one hole each. All imo and dyor.

Mental - but they are NOT going to take salary cuts. They've already said so. Which means the ball is now in our courts, in terms of whether their stance on salaries means we no longer want to be invested here? What is the point of going on about it endlessly on here. Supposing there are another 100 posts on the topic - what difference is that going to make to anything. It's not even a topic that has the potential to serve as a de-ramp anymore by squeezing out more selling decisions?

Why doesn't ORCP explore the possibility of non dilutive financing with one or more of these companies? If one or more of them are ultimately going to play a big part in finding or providing the capex for these huge projects, it's surely in their interests to do some kind of deal at this early stage, or they risk having to pay more for less later?

I was surprised that with all these big players, ORCP isn't exploring this option and instead will look to the market again to raise. I mean, how difficult would it be for ORCP to raise £500k or even a £1 million through one of these £multi billion majors and project partners, as opposed to diluting via the market again?

Wouldn't such a strategy be much better for the share price and less dilutive?

The ORR BOD recently entered into a salary sacrifice scheme where they forego 25% of their salaries, in return for equity in the company. That is because the company found itself in a similar situation. In fact, ORR performed much better than ECR have on the field. The BOD at ECR could consider doing something similar if they are really confident and have conviction, like AS has been saying regarding the 2p. They would actually make far more money this way?

But otherwise, I think we are spending far too much time on this topic. AIM is a casino and has lots of overpaid BOD, who command fat salaries for doing very little in return, and getting paid regardless of success or failure. A lot of them have a portfolio of such roles. If ECR is a lifestyle operation, then so is most of AIM. It's still up to us to decide whether we choose to enter the casino and invest/gamble in such companies. But to suddenly become SO moralistic and obsessed about such matters, because we decided to enter the casino knowing all this, and might have lost money on the tables, is a bit weird?

I'm not overly bothered how much money they make. They will continue to make it long after most of us are gone from ECR, and the AIM casino will continue to operate. At the end of the day, what it boils down to is do we all want to invest/gamble more money at the ECR casino, because we think the odds are more favourable at these levels, and we think Lolworth and Hurricane represent some upside from these levels. If so, are we going to deprive ourselves of the opportunity simply because the BOD are on unjustifiable salaries? If not, then why blow so much hot air at something that isn't ultimately going to prevent us from investing/gambling here again? All imo

Yes it probably would Skippy - I was just curious about it.

RogerJolly - I totally agree. NHE have barely just closed their fund raise, have changed their drilling plans at this late stage, and so this will all surely need some time to put into the contracts that both parties need to sign. Anyway, we will of course know more about the situation, as it will undoubtedly be touched upon in their presentation on Thursday.

I actually don't, and indeed can't bring myself to, listen to AG anymore...

What does she do on the other 364 days?

Is anyone here actually invested or thinking of taking an investment in NHE?

Thanks FK79 - all noted and understood. This is one of those situations where the 'off the field events' are completely overshadowing what's happening 'on the pitch'. As I am sure you will recall, it's a complete contrast to the first drilling, even though the Siemens reading has gone up and KAV are more likely to hit the conductor(s) this time round.

You probably couldn't even tell from this BB that there is a major drilling event taking place right now!

A remarkable dearth of discussion about the drilling and hardly any media or comms from the company about it either.

When it comes to promotion and ramping, I don't think NHE will have a problem, even whilst we are drilling. It's not like we are ASX listed, with the same target audience, etc. So far, they have totally outshone He1 when it comes to the comms. In fact, we have been woeful in comparison, but that's maybe because we've not been able to say anything until the Rig is sorted.

The thing that does trouble me, and it might just be NHE ramping it all, but they also seem so much more advanced in their planning for 'post discovery', that I actually think that if they do make a discovery, they will move forward much faster than us towards commercialising it.

Personally, I've been happy with the steady and incremental rises we have had so far. I feel that it's allowed a steady transfer of shares at each level, whilst maintaining the upward trajectory. Much better and healthier to have this, than more volatile action imo. It means clearing a lot of sellers early on, and replacing them with stickier hands. And that's a much better 'set of passengers' to go forward with?

As long as we keep moving up through the levels, it's all good, regardless of daily trading in between them. And we aren't too far away from the next level of 7.8p. All imo

Bahria - totally agree and I think that's a sensible decision from you.

Yes, a lot riding on this DFS now.

Skippy - the fact that NHE are now only drilling one hole should actually make life easier for all parties, as they now only have to drill two holes between August and October. I don't know what the rate of drilling will be with this Rig, or what TD represents for each hole, but should have plenty of time to complete both drills?

Skippy - I think NHE's decision to drill only one hole, will mean having to revisit the contract and costs with both He1 and Sofori. Did you notice that only this week have NHE referred to the collaboration as a "50/50" collaboration. When they were drilling two holes, you would have expected NHE to have picked up more of the costs involved maybe?

Anyway, I don't think the share price rise has anything to do with this Thursday's presentation, or will be affected by whether or not there is a RNS. The share price has risen and will continue to rise because the last de-risking of the Q3 drilling was NHE securing its funding. It has now done that and so we can now proceed towards the Rig contract. Thursday's presentation won't alter this fact. All imo

I'm not so sure about that. BT said something about being excited with what they had seen already with the Ditau core, and were expecting the assay results to be confirmatory of that. This is why they were willing to put the KSZ drilling on hold, and drill Ditau first. Instead of back to back drilling, we then got this PB announcement and proceeding with KSZ.

Are we expected to believe that the exploration decisions have been made completely separately and without consideration to the PB financing? Or is Ditau the (high confidence level) hedge for PB against a negative outcome at KSZ? All imo

Skippy I see no reason why the share price will drop if the Rig RNS doesn't land this week. NHE have only just raised their funds and a crucial factor is that they have seemingly changed their drilling plans. If so, will their amended drilling plans not need to be factored into the relevant contracts with He1 and Sofori? And if so, it would be understandable if this amending process takes us into next week for the Rig RNS? All imo

The other factor to keep in mind here is that at some point soon, KAV should be receiving the Ditau assays? Will they be released on receipt, or will they be deemed commercially sensitive and held back pending the outcome of this vote?

This 1p sale is not just about the KSZ, but about all of the projects?