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Very close to confirmation of crew, confirmation that the rig is assembled and confirmation of the spud date.

They’re not going to raise at these levels. When you drop the above news it will send the price much higher. They’ll easily be able to raise at mid teens plus. Could even be higher if they’ve got the nerve to run until helium shows.

There’s also the chance that they’re not even thinking about it! Although I’m pretty sure they will raise if the price is right. The price is just no where near right at the moment.

Also when they have raised, man, I think people will start to pile in which will send us much higher. Offsetting any drop from the raise.

I have no worries about buying at these levels, which I have done.

I like the idea that if they don’t raise, they could get the money via the renting out of the rig. As they know there is demand, they may take that as a safety net which allows them to run the risk of raising later e.g during the drill after announcing helium shows or upon discovery.

If they didn’t have that option I would probably say they have to raise pre spud. However, I also think they would just not do it now at these low prices

Hopefully that is the end of it (fingers crossed). Certainly a turbulent week!

Still massively looking forward to the next few weeks and expect the share price to be a lot higher.

Could resist adding another batch at 7.30 today

Https://africa.businessinsider.com/local/markets/tanzania-to-pay-dollar1095-million-for-contract-infringement-heres-the-history-of-the/2h35m7b.amp

Interesting read. I think after that Tanzania will behave better going forward

Has anyone kept a track of those block trades? Do we know what they currently add up to?

If we were at mid teens, I think they would raise and I would do that if I was them. Just downside protection if we run into trouble.

However, now we are back down at 7s, I just don’t think they would raise at these levels. They would rather just do the drill, take the risk and raise after.

Hopefully we’ll soon have soaked up those large sell orders. The buys we are seeing can then start to nudge us back up.

If it is Ian selling, I don’t think it should be viewed as overly bearish. The man had around 10m shares didn’t he? That’s a lot to ride on the drill. Only sensible to take a bit of the table, even if he is incredibly bullish on there being a successful discovery

Selling looks to be over. I would not be surprised if this completely retraces

Picked up a small amount more at 8.17

Yeh I would be fully on board with a rights issue

I wouldn’t be surprised if they do raise pre spud. I felt they are being quite cagey around the current cash balance on the call (although granted it may have been because it is price sensitive so they could not be specific).

However, I would also not be unhappy if they do raise pre spud, provided it does not happen for less than mid teens. They will then have cash on hand which provides a buffer if they do run in to any problems and we need to drill again. So I think that would limit the downside if they did hit a duster

It was slightly annoying that they avoided any direct answers on cash position and the price paid for the rig. Perhaps they were told that is price sensitive info so cannot be disclosed without an RNS

We know that Art. Pretty weak attempt to be negative, although I appreciate it is difficult with this stock

Yep. I’ll take some off the table before the real excitement begins. Looking for kid teens over the next few weeks

1.5m shares now at 7p average. Looking forward to the next few weeks!

The chase begins…

All looking very good to me. Very excited for the next few weeks

Very excited for August…bring it on

Going to be a hard decison for sure deciding what to leave in and what to take out….….the upside could be so huge but also the gains that should hopefully already be in the bag as we lead into the drill will be chunky, so a lot to risk. Will have to see how I feel at the time!

So what do people put the odds at being for a commercial discovery of helium here? 14% in line with the official COS or higher?