Member Info for LegendB

So what were the 6 warning signs?

I could see the activist Saba going full out on this now at this price. I guess the price they would pay could be a decent premium but still leave some underwater. If they do agitate for full change what sort of price do we think is fair?

I know given the small market cap of the company. Spread betting firms are being charged a lot to maintain a position. I think someone is trying to squeeze out people's positions with a wide spread. Clearly someone is messing around with this stock.

What's with the huge price drop before close. I can't see any news on why and no rns?

So we are not making subsequent payments to acquire additional licenses. But that rns fails to explain why they have made this decision. Without the reason the whole announcement is useless. What aren't they telling us?

The board looking increasingly desperate in issuing another RNS to try and get shareholders to vote against the resolutions put forward. Perhaps more time should have been put into being more transparent with those invested in the company. Why on earth would you vote to keep the current board?

Agree on the new CEO he can't be blamed, but as for all those old fellas back in the UK....

How many video calls have they held and not once talked about any executional risk. Australian listing being a case in point.

I'm sorry I've been pretty patient but it is now clear that after the latest fiasco with the licence that the current board are incompetent. Name me one thing that has gone to plan. Everyone can have a bit of bad luck. But failure to execute on so many levels over a short period of time is indefensible.

As retail shareholders we should club together and demand the current board step aside. Or encourage an activist to build a position and force personnel change through.

Which then points to my 2nd theory that we, along with another, been asked to support the government in speaking positively about our experiences to help increase investment into the county. That in itself isn't a bad thing. Anything we can do to assist the government as this time will only help to build relationships.

My only concern is that this conference has been set up as they are to date unable to find a partner to take up the processing plant element. Is lorna there to talk about easy it is to work with Tanzanian government, to show UK companies their is opportunity in country and it is safe and sensible from an investment perspective. I hope I'm wrong. The alternative could be we are doing a favour to Tanzania government to increase investment by other companies by taking about our experience.

It's all gone very quiet. Did we get confirmation an appeal was lodged. And if so when we might hear back on the result of that appeal? The new CEO came across as confident on the investor meet call. I hope that confidence is a good reflection of where we truly stand. Very much underwater on this one but still with a belief it will come good.

This is bad news right? I can't see why the share price has gone up based on the news we won't be part of the fast track process and now have to be part of public bidding process, which surely means we could be outbid. Hoping someone will tell me I'm wrong about this.

I think HE1 would be the perfect candidate for a reverse stock split. The amount of shares in circulation are always going to hold this back psychologically as opposed to just the fundamentals. Yes a reverse doesn't change the value and market gap but it does make a difference to the potential impact of new news etc. but being still very much underwater here I have been really encouraged by this week's news.

This week feels like a bad set of events. More delay in the asx listing. And now the new CEO is dropping out and they have to find someone else. Someone needs to get a grip of this company. I always thought Steve was managing things well but the last few days has changed my mind on this. Share price down another 14%.

A conspiracy theory for you. And because this BOD have form...

Resolution 1 failed, so they call an EGM whereby they reintroduce res 5 and 6, knowing here isn't as much interest or voting as it's an EGM. Knowing they can pass a cash money box to issue more shares. Hopefully this idea is a ridiculous as it sounds.

But for all the derampers and shorters OR those just strong in their belief around another share diltution. I don't know why people challenge them. It's much easier to just say yes you are right maybe they will need to issue more equity. What we should be really scared about when even that option disappears. Explorations companies have to raise and I'm hoping that one more should do it. Not ideal given how much Ive already invested but I need them to get to the point where they can start to generate revenue. As that's where we will see a return.

So the 3rd party company took circa 15,000,000 shares rather than the cash equivalent first agreed in the contract. So if my maths is correct (and please point out if Ive ballsed this up..) that's around £150,000.

So the question is, are we cash strapped that we negotiated the shares in lieu of cash OR could the 3rd party see the upside and happy to take a gamble on a small amount. Either it's a negative, we were happy to dilute as we don't have the cash OR it's a positive, the 3rd party knew the upside and wanted to take the shares.

We have to think about what the forces were that led to this decision. Views?

Still very surprised they haven't been a takeover target at this price. Especially given that the alternative/ green energy sector is down. That sort of thing usually prompts consolidation. Someone like a TRIG I thought they could be a suitor.

If I was working for the Tanzania government, I think making an announcement about the ML at the conference would be a great way of tying everything together in a way that is optimised for max impact.

Never have I seen such a mismatch. Fundamentals are clear and strong here and yes whilst the div may not be assured it still represents around 6% on the low side. Mind you who am I to quibble when it gives another opportunity to top up. Lots of chat about a being a takeover target but not sure I believe that, but could see why at this price.

Nice sentiments, but no chance. Nine times out of 10 the CEO won't even see what is being posted on social media. The idea that some how Lorna's time and brain capacity is being taken up by doing the right thing is wishful thinking at best. The EWT will either be good or bad and the CEO will act accordingly to the results. This post was about internal Tanzanian stakeholders and keeping them engaged.

Long term holder with a high break even so hoping the EWT does go well.