Would IS or DM buy £1m share today ? no way !!!!!15 Sep 2022 08:51
Downside risks to push sp lower:
2023 Fund raise instant -30% rip
Possible Drill license renewal problems,
Fact: Rig is sill broken ! trying to fix it has being going for months now, its possible they can't fix it and need more parts, the life of the drilling program is in the hands of a car mechanic shipping parts from around the world, are you serious ! probable additional months of delays as per track record of constant can't get anything done on time or according to the plan. More shareholders waiting for that RNS month after month.. not knowing when or how. this will rip the SP again
Rainy season delays
6 Major risks factors as per RNS: HOW MANY THINGS NEED TO LINE UP?? DID YOU READ THIS ?? (i added the numbers to help) "Timeline to drilling (in January 2023) commencing is contingent on contracting with Baker Hughes, (1 risk) the completion of operations and (2 risk )release of equipment from Southern Africa, (3 Risk) as well as the successful completion of ADC audit (4 Risk) contracting, and export approval for the rig in Kenya." what da f did I just read
you need all the planets to line up just to book a rig... 4 real. if one thing falls apart then Drill project is delayed or probably cancelled.
No matter your view or what you say the SP trend is down and delays have been and are causing SP to fall and fall, for the last 6 months its down and down and down -22% in 30 days, -31% in 6 months and also -31% for the last 12 months
https://www.google.com/finance/quote/HE1:LON?hl=en&window=6M
Still No Project is booked, HE1 is way overvalued due to this total mess and minefield of risks to just booking a flip'n Rig
Talk of Spud being 6 months away is more likely 9 or 10 months away at best according to track record of false exaggerated time line.
Is there an Upside potential where SP can take off....?
honestly, over the next 2 months I can't see it. I just see false hope from ramping shareholders.
Ok if the Valuation was like 20M but HE1 still Valued at a super crazy £37,000,000.. where is the short term upside?
The risks of a non starter are incredible.. you are not investing today on a drilling project, you are gambling they can get this rig fixed and delivered on time for the parts and equipment from other drilling project to arrive?
the Only 1 Investing condition happens
Rig is 100% booked and they have raised the Cash to fund 2023 Drilling.
But to raise the Cash is a further -25%-30% hit to the share price because they add 200 million new shares which has already been passed by AGM and they have the NOMAD in place to do it. So its 100% coming.
..but today the Rig isn't booked and they don't have the cash for 2023 so they want YOU to buy shares so they can pay for these delays and mess.. *its not a fully funded project like it used to be* .yes I was a shareholder 1.4m shares and annoyed that they booked the wrong rig for 2021 drilling, I sold out pre results because I could smell a rat and 1 year later they are st
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