Member Info for Legalwolf

This jurisdiction has been an absolute thorn in the side from the very outset, despite MF constantly going on about how supportive the officials have been towards the project. The reality on the ground has been VERY different, from excruciatingly long delays in processing CMET's applications (EIA and then the IMLs), to then suspending them months later and at a critical point for CMET - when seemingly on the verge of securing offtake/funding. I mean, if they wanted to deliberately sabotage the company, they couldn't have done a much better job than this.
To top it all, the comms have been woeful.
Is this going to take a legal battle in the courts, similar to what Titanium Sands had to do when they had problems with the GSMB, and if so, does CMET have the resources to do that? Or will GSMB see sense and fair play, and reinstate?

A brilliant post. I've long wondered whether there are folk invested here, who simply don't bother with this bb anymore, because of the constant daily (in fact hourly) bickering between a handful of posters, some well intentioned but engaging in an exercise in complete futility, in trying to convince the others to their point of view, and the others with their own agendas, but masquerading as 'genuine' posters? A lot of it is seemingly being fuelled by a narcissistic desire to have the last word, or to win the argument, no matter what. The same points/attacks being made over and over again. And the rest of us have to just suffer this incessant and completely immature drivel.
On the hour, every hour, just like Sky News.

Listened to the Noble webinar and interview clip. They are definitely extremely bullish and committal in their comms about being ready to sign the Rig contract for Q3 drilling - pretty much presenting it all as a virtually done deal and ready to be announced shortly? Don't getting any sense of funding concerns at all listening to that.

Wyndrum - those are the levels that I am also watching. It does feel like we might be about to retest 7p. Break/hold that and I wonder whether we might make a push for the 8s before Noble's farmout update, which could land as early as next week?

Buyers are starting to emerge at these levels, which is encouraging, but only a start. What's really going to matter, and has always been the case in recent months, are the drilling results that ECR now put out re final two holes at BM, and in particular, the first set out results from CresWick.
Hopefully, the results won't be delayed, and we can expect something in the next 4-6 weeks?

Looks like He1 might be ticking up again in the run up to NHE farm out news, which could arrive next week?

I'm thinking similar and believe we might well be on an upward trajectory now in the run up to Noble confirming it has farm out offers, which is now less than two weeks away. I'm looking for this next leg up to take us into the 8s. Very tempted to add more now rather than wait ... GLA

It looks like we will sign a Rig contract soon after the 26 April then according to the new timeline? NHE seem very confident and almost outdoing HE1 on the comms. We should start to tick up in the run up to this period imo. GLA

I would have to agree that by dithering over the KSZ like this it is undermining their own oft stated confidence in the project.

I think a lot of money is still on the side lines waiting for Rig confirmation. That is perfectly understandable given the history here. I am also holding some funds back for Rig confirmation - and I'm a He1 bull!
I also firmly agree that, barring any calamity impacting the wider market, this will move VERY quickly through the gears if/once Rig confirmation arrives. There's been a lot of accumulating going on in the 5s and 6s, which is continuing. It would not surprise me to see this tick up in the run up to Rig confirmation. And then make a more explosive move up following Rig confirmation.
In fact, we might not have to wait for Rig confirmation, because I think NHE confirming its farm out will have the same impact. That announcement will pretty much make the Rig confirmation inevitable shortly thereafter, and I will probably add my funds at that point, rather than wait a few more weeks for the Rig RNS. But, that's just my expectations and thought process and DYOR. GLA

If the KSZ is now drill ready, could KAV have just gone ahead with the drilling there? By the time they receive assay results for Ditau and then finalise drilling plans for Ditau, I am sure they could have made decent progress in drilling the KSZ conductors?

With a rising POG, this quarter would be a good time to get some positive results from Tati, and which could cushion any blow from disappointing results at Molopo?

I agree. Well done to the usually placid interviewer for asking the pertinent questions, and to LB for answering them honestly and with confidence. They have inspected the Rig already, which will mobilise from north Africa and take 6 weeks to reach Rukwa. That does give a backstop for an August spud. Good to hear that they are currently going through the details of the contract, which means it should be ready to sign alongside NHE receiving its funding.
It was also good to hear that whilst the collaboration remains the preferred and most likely option, He1 remain in contact with alternative Rig providers and will go for the more expensive option of sole sourcing a Rig if they have to in order to achieve a Q3 spud.

Yes, the recent acquisition made no sense, given how many other projects we had already waiting to be drilled.
At the moment, the selling pressure/volume is quite high in comparison to the buying.
The current budget will represent the last throws of the dice for ECR, because if they don't hit gold and lift the share price, then it's going to end up as 'death by dilution' at these levels I'm afraid, no matter what the promise in the remaining projects in the portfolio.

The longer it takes, the more you wonder whether it is incompetence or just outright skulduggery? They were quick to suspend, so why so slow to reinstate? All imo

I don't think that's going to help all that much tbh. We've had a reasonable level of media from AS and AH, and it has not arrested the decline. The only thing that will generate buying interest, to match the selling, is positive 'on the ground' exploration news, in the form of either drilling results, or mobilising the second Rig. Whenever ECR delay drilling results, its a bad sign.

Could it be forward selling of a placing. We know ECR and its brokers have previous when it comes to such matters?

My understanding from the RNS, and the interview, is that the Bank will be securing the funding from its clients. It looks like the next two quarters will focus very much on raising funds (looking at JV at Bibemi as well) and doing some desk top/field work, and if successful with the funding, we will then see a maiden drilling campaign at the CLP in Q4. So a long wait for drilling.
All gone quiet re Senala JV. Are they still waiting for the sale to go through?

I will try to take a look through the issued share capital, but does the company have cheap warrants, CLNs, placing overhang or some other source of potential large seller(s) to clear, before it can go on a sustained rise?

Cash for shares wouldn't work, as ORR need the cash for exploration?
I like the way the Canadian Investment Bank has already stipulated that the £1 million would be for "exploration only".