Member Info for PortfolioPower

Tro/Dai

Good call on the floor being put in at around 0.85

Chunky trades showing on an otherwise low volume day.

6,600,000 Buy* 79.13k

10-Jul-23 13:12:32 1.199 8,400,000 Buy* 100.72k

10-Jul-23 13:13:05 1.20 15,000,000 Buy* 180.00k

Keep you eye on Noble overnight Dai

Rig announcement on Hot copper

Only stumbled across scirocco after remebering they had done a name chamge and thought I'd look into them to see where He1 actually got their licence from originally to see what thet paid for it and to see what work if any had previously been undertaken on it.

Only other thing I noticed was the impeccable timing of their selling in He1 as they notified their holders they had almost fully sold out on 27th July 2021.

Could just be coincidence though as it had 10 bagged for them.

Looks like they might be trying to divest another one of their Tanzania licences?

Not sure what is happening with their oil and gas plays? Seems to be waiting on an update?

I can't fathom He1. Tried researching Noble also and didn't get too far with them either as i just keep end up going down a rabbit hole each time so I'm going to leave it to others to try and find out whats going on over there.

I like to try to understand all elements of what's going on with the company to get comfortable if a trading opportunity presents itself

Sometimes though when you get an opportunity like Tm1 earlier, you haven't got time to do a deep dive into everything and just need to trade in and out as the opportunity presents itself.

Like when PRD tanked to 4p-5p just after open back in June and has now fully recovered back to the top of the range.

Strong volume today at Matd.

I only realised it was a former license of scirocco after reading the comments on the HEV bb.

And that the data was 'reproccessed'

Dai,

If I have this correct?

Looks like scirocco have played a blinder by divesting 1 of their 4 Tanzania based helium licences into He1 in return for some shares.

They have 10 bagged on their share holding and 10 bagged on their million options at 2.6p and made millions out of He1 holders.

Whilst the share price was zooming up scirocco had been selling down their shares in He1.

In their RNS

"Scirocco successfully monetised the majority of its investment in He1 last year at a significant premium to the current share price, but retains meaningful exposure to its ongoing progress through our remaining holding, meaning the upcoming drilling plans at Rukwa represent a good value catalyst."

They now only hold 1%?

Can't blame them for selling, no one could.

If scirocco sell their final 1% they won't need to do a Tr1 but they might update their shareholders with an RNS so maybe one to keep an eye on.

Solo oil

Now known as Scirocco Energy PLC

Present market cap 2.6m

On a big downtrend.

Their website says they hold 3 helium licences in Tanzania?

Tro may know the background on these?

I think I've seen enough and can't be bothered to look into it anymore

-

Missed that opportunity earlier on TM1 while i was out.

Well done to whoever spotted that at the time.

Reprocessing data you say Dai?

Bit bored so have been carrying on my look into He1

Anyone spotted the connection to Helium Ventures? (HEV) or read their bb on lse?

What do you make or the connection to Neil Ritson? Or other comments over there?

From the HEV website...

Neil Ritsin.

later Executive Chairman, of Solo Oil plc. At Solo, Neil recognised the potential for helium exploration using the latest play concepts and was instrumental in Solo making a substantial early investment in Helium One Limited in 2017. As part of its investment in Helium One, Neil facilitated access to legacy seismic data and personally supervised its reprocessing and reinterpretation

HEV ans HE1 bith listed around similar times.

One was ramped and now falling back as no commercial discovery.

The other is now suspended

Never taken much notice of He1 before until seeing you guys mention it.

Does any of the above ever get discussed?

Also why is He1 having to pay out 2m in cash each uear just to 'maintain their licence' so if they stop paying this, I take it they will forfeit the licence.

Who will it revert to?

Any thoughts?

Thanks Kev

I'm not as close to goings on at MATD as a couple of you guys.

Dai, you're becoming as cynical as me! :-)

P.s. FX gains shows up in their lasted accounts.

Heading out for the day now.

Anyone think they will copy what ALBA did and use their permit good news to follow up with a placing given present market conditions?

Last raise was back in Feb.

Decent volume day so far.

I would be using today to take some off the table for sure.

Apologies... this is meant to be on a He1 thread..

Just thinking out load... given my post earlier about companies having a back up on binary plays.

If they raise pre drill or pre drill results (sensible) they will retain cash.

If somehow they manage to get a drill away without a raise, based upon previous costs to drill that will wipe out all the cash and if another duster that could result in an ADV style collapse as can't see where the fall back position would be?

They would then have no cash.

No resourse.

A triple duster

And no cash to maintain the present licence costs of 2m per year?

Thoughts?

Ok... Ive cracked.

I'm finally going to start looking into this as it keeps getting a mention.. lol.

He1 managed to make a £800k gain on fX over the past year from their treasury as still hald decent cash held of £13,730,250 as at 31.12.22.

Well timed payments ro BVI? :-)

Their licence is written in at book value of £13,300,525

But they have spent £18,402,040 on exploration cost already so they have an impairment charge of £5milliom

Tbh, that's one hell of a book premium for a pre discovery license most are peanuts until either a discovery or resource estimate can be established based upon successful drilling activities not geo surveys.

So looks like someone has done extremely well on the sale of that licence to He1.

Cost of circa 2m to maintain their licence rights seems high!... very high!

2m in annual costs to maintain the exploration licence??? Wouldn't mind more detail on this?

Admittedly these have been reduced by nearly 400k by He1 releasing a sizable chunk of their licence in the past year.

It doesn't fit my model that I've shared but that doesn't mean it wouldn't or couldn't move quickly just that still looks like fair bit of success is still priced in at present.

Mysterious email doing the rounds that seems to be getting all the traders revved up :-)))

Generally best advice given at this stage of the year is to take a few months holiday... lol.

In all seriousness, volumes are naturally lower at this time time of year leading to higher spreads and less liquidity so higher risks.

Things tend to pick up around September time and so not a bad time to watchlist some that are drifting but have strong potential upside but are quiet atm and just drifting down on low to no volume.

Two I have my eye on that I can see reversing at some stage would be WSBN and then GSCU.

Both decent post codes for drilling excitement once their programs start up, one is in Australia near to GGP and the other one is in chilie led by part of the discovery team who used to work for GGP and Gercaise Heddle (ex GGP CEO (from the good times) has recently bought some GSCU shares.

If you can grabs some below his buy in price of 1.2p that is where I'm looking. - should get a mag survey results in 3-4 weeks then drilling so could be a couple of months for results.

Also WSBN - waiting to see when drilling will commence so results could be still month away.

So all in probably going to be a quiet few weeks ahead for me which suits as I am going on Holiday and hoping for a few shares to fall back over the summer lull period.

A few nibbling around that 0.33 range dai Tuesday Wednesday, Thursday, Friday last week then some well known rampers started up on Monday/ Tuesday this week, but gone a bit calmer now waiting to see what happens next.

Recent placing in April done at 0.04p to add a further £750k cash into bank.

If the licence news / MRE news lands and the SP spikes up i won't be surprised if they raise again so I'd want to be out ahead of that.

Market cap here lowly 3m (due to having been way oversold)

Mankayan license alone independently valued in Q1 2023 at upto £7.8m

H&G value still yet to be unlocked from full Mining licence approval.

Our independent mining consultants (AMS) have also been working on generating an additional open pit Mineral Resource Estimate (MRE) to complement the existing underground resource.

I'm wondering if news on the additional MRE will be released alongside or just after the licence approval is nailed down.

Either way looks like an increased resource estimate is being worked on.

Still trading below sum of parts here and haven't even ascribed any value to our manganese projects at Kanye, Loltware & Moshaneng Borrow Pit which is looking like shaping up to be a string of easy recoverable open pits across a 2km strike length.

Lots that have tanked over the years and in almost every case it was from retaining a full or near to full position whilst waiting on the outcome of some kind of binary play.

Where if it doesn't come off & there isn't any fallback position or other assets with enough genuine value to support the share price (especially if its been elevated to a level where success is virtually priced in).

I guess all those losses were the price of my education.

The MM's are brutal in those scenarios.

Doesn't mean I won't occasionally play the hype cycle ahead of such events if I can see the market is moving. I'm just more mindful to de risk my exposure nowadays.

Alot were either net assets equal to or greater than m/cap at the stage they bottomed out.

Kev,

virtually all of them picks ended up pulling back as traders exited to lock in gains and the SP gets walked back down as volume drys up and folk get squeezed out whilst waiting for the next news, especially if the next news is felt to be a long way off.