Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Zac Mir comment. Echoing my own questions. It’d be good to know:
Comment: The inability of HE1 shares to remain above 3p, its recent history of aggressive fundraising, and massive liquidity in the stock all meant that today’s placing is no surprise. The only questions some may have is why helium exploration is apparently so expensive, and what kind of returns can be expected versus recent £15m cash calls.“
https://zakstraderscafe.com/rns-hotlist-february-7-african-pioneer-creo-dg-innovate-first-class-helium-one-kendrick-vast-zinc-media/8396/
I’d like to know the current financial position based on both placings and cash spent on this drill. Where are we?
Dec placing:
“following the announcement on 20 December 2023 (the "Launch Announcement") regarding the launch of a proposed placing (the "Placing") and a direct subscription (the "Subscription") (together, the "Fundraise"), the Company has raised gross proceeds of £6.1 million (approximately US$7.7 million) through the issue of an aggregate of 2,420,842,500 new ordinary shares”
Feb placing:
“the primary helium explorer in Tanzania, announces that it has raised £4.7 million (approximately $5.92 million), before expenses, through a company led placing of 313,333,333 new ordinary shares (the "Placing Shares") at a price of 1.5p per share”
That’s £10.8 million raised.
What’s been spent?
How long will this cash last?
What ‘next stage’ will this get us to?
And does anyone know what the chart prediction (by Zac) of 5+p now equates to?
I’m sure as hell this will go up, but will likely go down a little first on this news and until the shares come into effect on 15th Feb.
Thanks in advance.
The original broker prediction (a few years back when we were at 24p) on a successful discovery was about 70p. Whatever that is in new money, we should break it on the back of an RNS like that. Literally not a negative or doubtful word to be seen anywhere. Amazing numbers. 👍🏼
Saturday:
https://x.com/share_talk/status/1753849466577141822?s=46&t=noOIkuI4WzKmPss_1gWrPw
Sunday: (scroll down in link)
https://zakstraderscafe.com/week-in-small-caps-february-4-bank-of-england-vs-the-people/8379/
Thanks for the link, but that’s not quite getting to my question. This drill and further updates on testing it are all funded. I’m wondering where we go from there into the next phase. But maybe that won’t matter if we can announce a discovery and it rockets.
I’m just wondering what others think about the next stage of this off the scale turn around in SP.