Member Info for Legalwolf

As I recall, GSMB didn't have a Chair or Director in place when they suspended the licences. Not sure if those posts have since been filled? I think its all to do with the prize on offer here, in terms of the known and high concentrate resource and potential to significantly expand it across the licence areas. There's probably a lot of local and regional companies that would be interested in the project. For example, the state owned mineral sands company has also been on a land grab in recent years.

So I don't think its just down to certain officials at the GSMB - I don't think any of them would have the gumption to block a project of such scale and national importance? So imo, there's probably larger and more powerful interests at play here dictating events through the GSMB. That's just my personal speculation though and could be totally wrong.

But ultimately, what matters is can CMET get it resolved and what does the appeals process look like and how long will it take, and does CMET have the cash for the fight ahead? And what happens to the offtake JV, as there is no chance of going ahead by July now, you would have thought? All imo and DYOR

Based on what was said by NHE in a recent interview, I believe the Rig contract should be ready to sign, but NHE can't sign it until they have secured the funds from completing their farmout. So if or once this farmout is confirmed, the Rig contract should follow from this very shortly.

I'm expecting it to be farmout news first from NHE, and then Rig RNS from both companies shortly thereafter, but it is not outside the realm of possibility that we could get a single and co-ordindated RNS/ASX announcement confirming completion of farmout and Rig contract. Of course, this assumes its good news on its way.

We can't execute the Rig contract until NHE completes its farmout. We don't need to contact HE1 to tell us that again. It's a known fact. The current timescale that NHE have given for completion of farmout is end of this month.

I don't think there are legions of rose spectacled shareholders. If anything, posts in recent days have included people expressing concerns and anxieties, and some saying they will bail out if farmout news doesn't land within X number of days. There are others who have not invested or gone all in until they get confirmation.

Personally, I do think that if the farmout is not going to happen, that NHE will likely know that by now and there is little to be gained by delaying such news. Which means that 'no news or delayed news' is more likely to signal ongoing discussions and point towards the possibility/probability of an ultimately positive outcome. And we are now literally days away from learning the outcome of the farmout discussions. But that's just my (rose tinted or otherwise) opinion, but in terms of my actual strategy and approach to risk, I am fully prepared for either eventuality. I am sure most others are as well. GLA

It's totally understandable for there to be mixed feelings right now. It's a difficult situation to assess and be fully confident about. Our fate is currently out of our hands, and lies instead with NHE. And their fate lies in the hands of Prime Energy and its mystery client(s). We can only hope that NHE's comments and comms accurately reflect the current farmout discussions they are having with Prime Energy and/or its clients. I would like to think that if the discussions were not proceeding well, or the parties had no chance of reaching agreement, that NHE wouldn't wait this long, or be tweeting so positively in the meantime, before informing the market? Similarly, I can't imagine that He1 are just sitting by idly like sitting ducks, waiting for the phone to ring, and no wiser than the rest of us about how the farmout is going. Surely, LB has been receiving regular updates from NHE about their farmout? Otherwise, it would be a farcical situation for LB to put He1 and its shareholders in, unless its one born out of necessity?

But so far, everything coming out of NHE has been positive, and their share price has ticked up on anticipation of a positive outcome, so we wait in hope of a positive outcome. All imo and DYOR

Either way, not great news at all. I struggle to comprehend how this is down to just a small group of individuals at GSMB. It's a very large scale project for the country, and surely must be bigger forces at play here in the background?

Anyone got any insights into this appeal system and how quick and robust it is?

I was rather hoping from the January RNS that we would have commenced the drilling by now, but something to look forward to in H2 of 2023.

You have to be realistic here about the timescale. The majors have not slowed things down over recent quarters, and gone into 'care and maintenance', only to then suddenly switch back into fifth gear and come to a speedy resolution. And especially without any real pressure on them from OMI either. Therefore, a resolution, plan or clarity, is more likely to take months (or even quarters) than weeks by the sounds of it. All imo and dyor

By the way, there's a Louis Castro adding to this shareholding in PRD this week and wondered whether that's the same person?

Good to have a long term strategy/view AG, and enter long term positions gradually, especially in difficult market conditions. I would imagine that having this plan also makes it easier to endure the volatility, and even take advantage of it. Hopefully, the situation here will turn soon for all ORCP LTH. Have a great holiday.

And so it now comes down to next week, and whether NHE announce that they have completed the farmout, or if not, at least provide a positive update about it. If so, happy days. If not, then this very long running Rigmarole continues, and our new CEO will have started off not much better than her predecessor finished off. GLA

I am disappointed the recording hasn't been released. Whose responsibility was that though? BT's, Stockbox or the Telegram organiser (J Oakley)? Can they not be asked/reminded on twitter? Alternatively, I understand that there is/was to be a follow up Q&A with PB, which if true, could mean that both Q&A recordings will be released together?

Anyway, whatever the merits or otherwise of this drill, it has certainly not been good for the share price run up to this big drill. How long will it take to reach TD for this drill, just thinking of that relative to the vote and whether/what price sensitive information the company will have at that point?

Change out of $13.7 million - that's what He1 were left with following the raise in December. Irrespective of the costs of this drill and how much it will cost them and what they will have left, they will need to raise regardless. Nothing has changed there.

It's worth mentioning that drilling with the Exhalo Rig, before that plan went south, was going to cost in the region of £5.5 million.

One swallow doesn't make a summer folks, so let's not get carried away too early. 0.3-0.35p should be the bottom, for now, but I suspect that where we go from here in the short term is all going to depend on Hurricane drilling, both in terms of whether we are already funded for it (as most of us believe we are) and then if so, the results of the drilling. All imo

I thought the adjective "rare" was in reference to Adam Jones, in that he might finally have found something of potential value :-)

Great research Tray and thank you for sharing. An impressive list.

Absolutely Sol - now that we are "fully funded" for whatever the next year holds in store for us, it would be good to hear more about what the plans are for Uranium, and of course get an update about Tati.

As for the IPOs, I know people have made the point that they have not yet impacted on POW's share price, but they are all new companies, with projects in infancy, and will need time to get their projects to value inflection points. So the business model created by PJ needs time to play out, as well as a bull market to help it, and too early to judge. All imo and DYOR.

Very poor article - the reason the share price has not soured is because a) we have not drilled, and b) we don't have a discovery. It's got nothing to do with the reasons given. Next...

Thought we might as well have a new thread, as the previous one has resulted in so much 'fighting'. I don't think anyone here is happy with how Victoria has gone, and it has raised various questions about other matters such as lifestyle BOD members, overpaid BOD members, competence of the GEO, etc etc.

But in terms of looking ahead from where we are now, do these Queensland projects mean that this is now a buying opportunity notwithstanding the poor show from Victoria assets? And related to that, are we agreed that ECR is "fully funded" for the Q3 drilling at Hurricane? And that any cash call will come after that?

If you think not, then please explain by reference to the interview between AS/AH, where the former asked the question, and AH confirmed that upcoming work at Lolworth and Hurricane is covered!

Absolutely, we are in the wild west casino that is AIM. Anything can and probably will happen. The market is pretty depressed and depressing at the moment for AIM juniors, and so it would be a very nice and rare opportunity to have a stock that goes on a run. As well as money waiting on the side lines for the Rig, a decent rise here will then catch the attention of those unaware of He1, but looking for an opportunity in a market that isn't offering too much else.

That is the other key difference between now and the first drill. Then we were in a bull market, and there were lots of stocks flying. So many would not have caught that move first time round as they had money well placed and well performing elsewhere. With that 'competition' from the sector, we still reached the dizzy heights of 28p (albeit we had no resistance levels to clear as it was the first move up for a new IPO).

This time round we are in a bear market and with some resistance levels. But in a funny sort of way, that could actually work in our favour as well because AIM is not giving too many opportunities at the moment? Maybe, maybe not!

Confidence would be to buy shares in the way that PJ has done. We don't know the terms of the SA, so we can't really say if Term Oil are investing in POW, or will be trading it in the background. You've just glossed over all of that.

I'm sorry, but we retail are often the cannon fodder on AIM, and posts like yours perhaps explain why. It's because we just lap up whatever is thrown at us and get sucked into the company's narrative, without actually keeping our eye on the ball and see what is actually going on underneath the hood.

We've seen what happened with Red Rock sold out. It really held the share price back. And we don't want the same to happen with this Subscription Agreement.

But if you guys or anyone else have fully researched Term Oil/RR and can confirm that even though they might invest or 'enter' into junior companies through the vehicle of a Subscription Agreement, they don't ever flip or trade those shares for a quick profit, then absolutely fine, I will take back my concerns and join the bandwagon.

I am comforted by the fact that PJ has bought more though. All imo and dyor