Member Info for Rambo23

Exactly, if you think the SP will be higher before Spud than it is today especially after last weeks drop then it's an easy decision. Buy low sell high!

Crew and Rig news next up I suspect. I think many overlook how close they were to confirming a discovery last time and are considerably better positioned this time round. Whether that discovery turns out to be commercial is another question but this is why achieving a discovery in the same area as the last drill with all the info gather to date isn't a Hail Mary. All the placing chatter doesn't factor in we own our own rig that can generate revenue or what needs to be done to get a discovery. Achieve the latter and JV's, off takes etc etc are all on the table as funding options. DYOR 100k taken at 7.8 this am.

Nobel have no CPR, no rig to lease out and generate revenue, no helium shows as they haven't drilled in the location before. Perhaps they had no choice but to de-risk now. Let's see what they say but with a raise it suggests they can drill a second well.

Obstanto - fair enough just providing the rationale that was given a few weeks ago. Roll on Sept

Bladey I think that is exactly what has happened some profit takers from 5p hardly a surprise. Re the rig cost to be fair to management they had stated previously they didn't want to disclose the rig cost publicly due to fact that once disclosed it might limit any future lease agreement ie limit what they can charge. Seems reasonable if that is correct. If so they could have explained that better yesterday. Ultimately if it is a net saving vs leasing and shipping that is a win.

Craig news your posts below

26th July - Crew Sorted

9th August - That said, they may drill it earlier, and the next announcement we hear will be of a discovery, they are under no obligation to release any news prior, as all required information is in the public domain

As LB said, she will update the market when it is 'worth of announcement'. I firmly believe that the rig will be drilling next week, and come September, they will announce completion of drilling, not starting.

Conclusion = Nonsense

Nobel are doing a raise but so what? How is that linked to HE1? Noble have paid a lot of money to lease the rig and get it shipped. HE1 bought one and saved money, that doesn't sound like collaboration. This talk of JV makes little sense now 2 rigs are in play. Leasing them the rig in the future using a 'collaboration agreement' seems more likely. Nobel haven't drilled at all in their area so I'm not sure why you would want to do a JV with them based on little to no data? What is the benefit to HE1 when they have their own locations to drill. There is a lot of unsubstantiated chat right now isn't there and that should be challenged not swallowed.

Can we move on now?

1. No headroom as AGM removed the ability to raise cash without a vote (likely protection for those taking part in the raise earlier in the year)

2. Company stated multiple times the drill is fully funded but post that further drilling will need funding. Hardly a surprise.

3. Given the last raise was at 5p who is going to take the risk now nearly double the price without results? Do a raise post results much higher for less dilution and assuming positive no one will care as everyone has made money that is the sensible approach if they are confident they will confirm a discovery

4. All of this could be a moot point if a JV or deal is done post discovery.

5. Facts are we drill next month all is going to plan and the SP should rise as we get closer to spud.

6. In the event of a duster the answer is simple.... you lease the rig out and raise cash that way. Perhaps this is the insurance policy for HE1 and not just reduced drilling and leasing costs for themselves.

7. Move on from the funding circle of noise and listen to the guidance we have from the company.

Wyn efficacy data enables them to get money in large amounts on better terms than without it correct? Yes I thought so!

A little more patience required here. If you have efficacy supported by data you can go and ask for whatever you need and all discussions are much easier and less risky for all concerned. Why give a way too much too early when you can simply progress through the trial and then leverage your efficacy data. There have been signposts for over 18 months now, just a few as a reminder

1. 3996 selected as the second prodrug (Neil Bell stated months earlier this would only happen once MOA was confirmed)

2. MOA again confirmed at the start of this year

3. MTD not found in the first 4 cohorts = a good thing as Pre/Cision is more targeted than expected in Humans

4. Biopsies confirming therapeutically relevant doses in the tumour

5. IC50 Numbers on the Science day deck show in black and white AVA6000 impact

6. 30+ Patients now dosed (over double the originally planned numbers for 4 cohorts

7. 'Several patients remain on trial in different dose cohorts and continue to receive AVA6000 as their disease have not progressed'......

8. STS patients being treated in C5 & C6 to get more data before P1B

9. Efficacy being seen in a P1A trial designed to look at safety and tolerability!

10. Dox = Dox but in higher concentrations in the TME

What happens next? SP much higher than it is today is my view. Short term noise is just that noise.

Lotus re your question 3....In the interview today Lorna stated that this drill will have 7inch casing installed so that it can be appraised at a later date post discovery. Therefore a separate drill hole isn't required to carry out the initial appraisal. That is my understanding from what she has told u. It is obviously possible they do a second drill for an appraisal from another pad as well. Happy to be corrected.

No worries GMCC.

I agree the potential upside is huge here and overlooked by many. It is worth reviewing the 'Pipeline' section on the website for those not familiar with what is in play. 2 JVs with LG Chem and Daewoong. 3 key targets under the Daewoong JV detailed below are particularly interesting. I'm looking forward to hearing more about each of these and the impact Affimers are having. It has been said before AVCT has many shots on goal and it really does they just have to deliver them now.

1. Solid Organ Transplant

2. Graft vs Host Disease

3. Multiple Sclerosis

Metis if this was a major concern why would they bother going back to Tai spending millions?

My view is the Helium source is deeper and below the key seals which is where they need to go to look for the jackpot. This wasn't completed last time but if they didn't have enough information and data to date to think they could confirm a discovery why would they go back? They now have the right kit, read the 'how not to mess up a drill' manual, had time to analyse the data for Tai and know the HE1 is still in the ground somewhere in the locality. Roll on Spud.

GMCC / Rorkesdrift - great find.

I'm not sure if either of you were at the AGM but they had posters to view for each of the key products / technologies in the AVCT stable. The Affimer one had to be pulled at the last minute as there was an update to it that was commercially sensitive and they were in the process of patent protecting it and therefore didn't want to disclose publically. We haven't heard anymore about this just yet but it suggests that at some point we will be revisiting this to learn what the Affimer progress here was. It may be unrelated to the specific application of affimers in your post but FYI if unaware as clearly progress is being made outside the Affyxell JV. I'm sure anyone else who went to the AGM can confirm my point above as it was in one of the communal sessions.

Worth remembering the CEO put £100k of is own money on the line back in Feb and bought more shares. You can buy them cheaper than he did right now! How long will this last?

Extract from Feb RNS below.

London / Vancouver: February 14, 2023 - Mkango Resources Ltd. (AIM/TSX-V: MKA) ("Company" or "Mkango") has been informed that William Dawes, CEO of the Company, has purchased 800,000 common shares without par value ("Shares") in the Company, comprising 400,000 Shares at a price of 12.95p per share and 400,000 Shares at a price of 12.75p per share.

Following the purchase of the Shares, William Dawes is the beneficial owner of or directly or indirectly controls a total of 9,521,443 Shares in the Company, which represents 4.42% per cent. of the issued share capital and total voting rights of the Company. William Dawes holds 975,238 Shares in his own name, with 8,546,205 of the Shares controlled through Leo Mining & Exploration Limited, a company in which William Dawes is a Director and owns 17.3% of the issued and outstanding shares.

Dai great post with the interview with Ian Stalker. I hadn't seen that one circulate the other week but it is worth a listen for anyone who hasn't seen it. Clearly still committed as a shareholder and keeping very busy.

A solid RNS this morning, civils complete, mobilising the rig to the pad and getting things ready to drill in the coming weeks.

I believe in 2021 they were extremely close to be able to confirm a discovery but the busted drill string and associated issues meant they couldn't get the kit down the holes to get a sample. So if you believe that is correct all they have to do is drill a hole in an area where there are known helium seeps and shows, put the testing kit and sampler down the hole and capture some helium. That would satisfy the discovery. We already know to confirm commerciality they will need to do a separate appraisal of the well which is likely the second stage. However going back to the the sample taken as part of this upcoming drill all we have to do is capture some helium (if not found immediately on the first go they can have as many goes at taking more samples down the hole as they like essentially with the necessary tools). The larger diameter hole and bigger kit reduces the drilling risk of not being able to achieve this from an operational perspective. Last time they had a tiny 3 inch hole diameter using the wrong rig, this time we have a massive O&G rig and a much bigger 8inch diameter hole . Therefore a discovery should be odds on simply because they had helium shows before but lacked the sample to confirm a discovery. This time they get a sample and bingo. That sample will also be graded by any lab analysis and we know that for it to be economical to sell to the market we need something like 0.1-0.2% helium. For me this is a pretty simple way of understanding what needs to be done to = Discovery.

Confirm a discovery the SP rockets and you raise a little then or don't and do a JV with a major who stumps up some cash. Management indicated in the recent shareholder discussions this was their preference and I hope they reiterate this on Weds as I believe this is holding the SP back now. Obviously there are risks but the upside vs down side here for me is very attractive as the areas isn't a completely unknown simply because they have been here before. Why come back here if last time was a complete failure? You wouldn't.

I do think they can drill a hole to 1200m as this time they have the right kit and I think they can get a sample as a result. I'm here for the discovery.

Blissful I have submitted a question on this precise point for next weeks presentation and Q&A. Might be worth others doing so as well. Easy to do on investor meet once you login.

Next steps, Spud, declare a discovery which is a huge de-risking event then raise a couple of million to do appraisal and no one will care as everyone makes money. Funded for the drill, saved money by buying a rig and as per Cocobeans there isn't the headroom to issue shares without an EGM. Quite straight forward really.

Open positions on IG

7% on IG currently. 100% buys today though.