Member Info for Skippysb01

That feels like it would be one egg in two baskets?

Try party contracts are not straight forwards. But I agree with you that they have had time to get all of that done and dusted in anticipation of the funding being made available. For me the question is - did they use the time to get the contract ready? If they did it really should get signed this week.

Perhaps noble and HE1 will have separate contracts and something separate to agree on 'joint matters' between them?

Legalwolf. NHE are loud but I'm not convinced it means they are better. HE1 used to be loud.

Both are very small organisations that have little to no chance to commercialise a discovery without significant outside help. I would expect HE1 to sell the asset anyway.

As I suggested previously, I think this drill share arrangement is awful for Noble. They won't have anything to talk about whilst the drill is on the HE1 side of the contract. It won't be comfortable for them, they don't like to have nothing to shout about.

Legalwolf. Yes they should have time. Let's get the rig on the boat and all should be well.

Triplestar. I think we are about to find out. I personally don't doubt them and just hope they have decent lawyers to manage the contract. Worse case is the funding is confirmed and then they start work on the contract - I really have seen this happen (not in this industry) and then the contract spends months going back an forth in draft form between parties with disputes over tiny considerations and wording.

I doubt that though. I always think with HE1 - well they managed to get a drill done before so they can do it again!

I have never liked the link with noble but do understand there are benefits to the approach. Just wan't to see an RNS confirming the rig contract is done and dusted. I think it's going to happen.

Legalwolf. Fair enough and you may be right. It's good times to be a shareholder here and we can discuss the meanderings that we may see in the next days and weeks.

Whenever I have been involved in a contract situation it is generally the risk management that causes delay. All parties want to be covered for different situations. Interestingly enough I can see a parallel for noble which is similar to the one that done for Minchin - what if the HE1 drill doesn't complete in time for whatever reason / or if the drill breaks down and can't continue without lengthy repairs/ etc? How do the 3 parties manage that in a contract? HE1 will want to be covered for completing a drill, noble won't want to risk the drill not arriving before the rains. 3 parties is tough yards to contract for and I wondered if LB had really understood that at the time. There is a lot of complexity to get through in order to realise the advantage of sharing the costs.

Dates and apportionment of itemised costs can be added at the end. So for me I am hoping the complexity of risk management has been worked through with the lawyers already and the rest is just ready to go. I speak with some experience as exec management often don't see the complex stuff and need it explaining to them - they assume everything is obvious and quick. Would expect LB to be much closer to it considering the very small sizes of the companies.

Legalwolf. I certainly agree that contracts are always more complex than folks generally realise and take time to draft and agree. However wouldn't think the actually drill planning offers much complexity to that.

The point I'm making is that I think the current SP rise is down to speculation that we will have a rig contract this week to line up to nobles presentation. Time and again I see AIM share prices rise ahead of an investor presentation and then fall.

Not that I think we will have too long to wait. I would have preferred no relationship with noble and that HE1 announce a drill contract out of the blue because our SP would benefit more from that. This drip drip of news from noble manages our SP in a very different way.

It is odd that all those trades landed at the same time. I have seen this before. I just note that the trades are at the top of the spread - so small buys at a premium. Does someone think this is how to keep the SP looking toppy?

In any case we are currently pinned to noble news flow. If we don't get a drill contract before the noble investor presentation on Thursday we will go back to 7p.

What SP do we think we get if we do get the drill contract this week?

We often see small trades at the top and bottom of the spread. It's no fee trading platforms. Basically these trades suffer from less favourable prices but without fees.

That's a huge uncrossing trade at the end there.

Also - whatever happened to Price Monitoring Extensions?

We might expect that the rig contract is ready to go bar the signatures.... pending confirmation that the funding is in place so it should be any day now.

Art. Why do you assume anyone takes a discovery for granted . I don’t. The risks are high. I suspect many long term holders are like me.

You beat me to it Chris. I too have filtered the utter bore.

My glass is half full too but the market is the toughest it’s been for years. Speculation isn’t enough.

LB was very clear when she was promoted to CEO that she would not repeat the previous mistakes of talking up non binding agreements with drill companies. I think the news about the LOI was only reluctantly communicated and somewhat forced to do so because noble made a noise about it

For me noble is a partner I view with suspicion. I am not invested in noble and I don’t like the relationship we have with them. They are likely to brag and talk things up and right now by association that only results in an even more once bitten twice shy view of our shared world.

However I do think HE1 will drill in Q3. Would prefer they went alone and frankly would not have cared much if we hadn’t heard from Laura for 6 months up to an RNS stating contract in place and drill on the way.

Also, noble are going to be decimated if HE1 don’t have a great drill. Going second is really a big risk for them and if I was a potential investor in noble today I would be very cautious on that. Market is glass half empty and it’s bonkers to invest in a company where the mid term SP is hitched to another companies drill chances. Because HE1 is going first….. so I don’t trust that noble want to stick with that and that is a reason our SP is pinned at 7p. What are they telling potential investors during this fund raise?

Looking at the SP today…. I got quite on bid for 7.1p

For the blink of an eye. As previously anything over 7p get immediately sold into. Market still sees risk and relationship with noble adds complexity and therefore risk. In todays risk averse market nothing but a drill contract will truly break 7p IMHO.

All of these mining/exploration AIM stocks are 'jam tomorrow'. Until and IF they make a confirmed discovery.

3 things:

The potential resource is very significant if it can be proven.

HE1 have been able to get a drill done before. Is they can again.

It has been far too long since that last drill - however we know a drill is in plan and we know that final contract of that drill is somewhat linked to progress made by Noble. That dependency can be cleared.

Absolutely true that it's been far too long. But too simple to say nothing is going on. I tend to look at this from today forwards considering the changes to the BOD this year. If we get confirmation of a drill contract and then get the spud then we will get value from this current position. A discovery will take this to an entirely different place but we all should be aware of the risks.

Nice. Certainly buys and chunky!

Don't think we can know who supported the fund raise.

I did a quick scan of the terms of the fundraise and couldn't see any restriction on when they could be sold. So yes 7p + would be fairly tempting. Yesterday I did a few dummy sells and best case I could sell at 7.11p at one point (I didnt).

Seem to remember there was fairly heavy trading during the placing and I got some at 5.5p. So it won't just be those who got the 5p shares in the fundraise that are tempted to sell.

In my view it's healthy to be invested in a company that is making investors money. Can't argue with the anyone who turns a profit. Drill contract will put us at a different support level.

EaglePI. Can you divulge where you heard this?