Member Info for MCNol

You are being obtuse Blubay, the reason for that baffles me?

No Blubay. At the time of signing the contract, June 2024 the 3rd party will have been made aware in full of the results of the appraisal well. At this point they agreed to take the issue of equity as partial renumeration. The 3rd party went on to the EWT and has insider information about that. They waited however until now to request the renumeration by issue of equity. Why, well that is the question? Why would a third party who have been on scene for at least 6 months chose to take the share pari passu now? Is it a coincidence that we are expecting the mining licence issue to imminently?

Notwithstanding the fact the acquirer of the equity issue has insider knowledge of the EWT results and at the time of the agreement had negotiated a contract (June/July) and had disclosure of insider information regarding the prior results at that point.

I think that your portrayal of the 3rd party as being passive in this action is disingenuous at best Blubay.

You are still avoiding the point about timing. The share price has been higher since the agreement was made in July. Why now when we are expecting the mining licence to be issued. Why did the acquirer wait when they have insider knowledge of the EWT results. I think the answer is obvious.

They could, but why do that now? The share price has been higher since July. I think you are being a tad negative Blubay.

Timing is everything in the market. Notwithstanding the fact that the acquirer of these shares has insider knowledge of the EWT results.

You are correct Blubay, however you have not considered the timing of this equity issue in your post.

And the timing, why not issue the equity in the last 2 months. Why wait until the time we are expecting the mining licence to be issued. Issued pari passu as well. Companies do not make choices that lose them money. This timing was a choice and the 3rd party chose to make it now.

The EWT was in August and this deal was agreed prior to that, when published accounts showed they had 11 million GBP in the bank. I hope that answers your question.

The timing of this weeks RNS is interesting, before the AGM and in the weeks in which we expect the mining licence to be issued. That added to the comment the CEO made at the recent summit about expecting the company to be producing 12 months after licence issue. Coupled with previous comments that they expect to be producing by the end of 2025.

It’s all there if you pay attention.

Those who post abusive infantile comments here are gamblers not investors and due to that life choice will forever be posting disruptive misleading and abusive messages on chat boards.

FUBAR is not short Cyrox, they just pop up when that margin call starts ringing for his bet.

Daily Troll account. Reported.

I guess you would know, what with that squeaky voice of yours Snorlax.

I apologise Broomtree, I do not speak gutter rat.

It is clear that the Tanzanian government want HE1 to succeed as much as we do. They see the company as their evidence to the world that they are open for business and easy to do business with.

Broomtree, you have just exposed yourself as the fool we feared you were. WTF has drilling got to do with a basic error in a figure on an RNS? Are you really that desperate in your gambling that you will sink to such pathetic attempts to do down a share?

What is more interesting is that they felt the need to correct it intraday. It could have waited, unless they are very busy at the moment and it would have been missed or they needed to get their ducks in a row before the figure mentioned became very relevant to future renumeration expected by the recipient of the equity issue. (20 shares might be circa 20p on Monday but worth a lot more on grant of a licence and future production, or dare I say it acquisition).

Broomtree, the RNS gets approved by the NOMAD. The minor misread of a figure will be there not with the Board of Directors.

It costs a few hundred GBP for a basic, short and simple RNS correcting a figure on an equity issue as I am sure you know Blubay.