Member Info for Skippysb01

I'm not sure how long that would take. BOIL just did one for PI's alongside institutional which was nice.

I don't necessarily think they will come to PI's. I'd put getting it done ahead of that as a priority. Not sure where we stand on AGM/Board permissions to raise funds but everything to me - in the current messaging - points to imminent fund raise. I can't imagine they didn't realise the mention of funding would stall the SP. So unless they have something stonking news wise to tell us then they may as well get on with it. The SP won't go anywhere now until they get clarity on funding out of the way.

I'm expecting a placing any moment now. Fits with the round of presentations. SP ain't going anywhere now until they resolve funding with absolute clarity. Market knows fund raise coming.

Would really like it if they offer a placing to us PI's too.

Blimey 6p. No way is the SP going below 6p even after a fund raise. That was a great price.

Didn't we get 25p 6 weeks before the last drill failed? So even if we had a massive 20% dilution (it will be far less I reckon) thats 20p just because they are drilling potentially. I know there are no guarantees that the pattern will be repeated but there are real differences this time. We know there is Helium - it's about whether it can be commercially viable and we have a far far better drill and they have better information on the geology as well as the learned experience from last time.

No guarantees of course but for me - I want them to raise funds to see this through.

Well that's up to you but it makes no sense. Surely by that logic, if you have been watching all that time, you would be interested in buying in after a placing so you would continue to watch?

You may have other reasons to not continue to be interested but you do sound like you just felt the need to send a negative message to put people off.

gogsthelogs. Agree. It was absolutely clear from yesterdays presentation that the timeline is to start drilling mid Feb.

It's all good from my perspective. Getting more certain every day.

Is it that simple though? What if there is no discovery? How will they raise funds? They would be in a very poor cash position and unable to move forward and it will be harder to raise funds etc.

You raise funds whilst there is interest.

I agree that if they confirm discovery this would be academic but you cannot run a business on the basis of that chance IMHO.

Having said that - if they expect a very high chance of announcing discovery then it could change attitude to risk - e.g. they could go get a loan rather than raise funds via a placing.

I would like a placing with PI participation.

I thought it was a great presentation overall. I agree they need to walk the walk. Feels more like where we were ahead of the 2021 drill in terms of likelihood of getting the drill done.

I suggest the SP is down today due to a longer wait. A lot of PI's and traders will view Q1 as 1st Jan in terms of general impatience.

Likely to take all of Q1 to find out if we have a discovery.

Positive for me is can accumulate more shares at this low level. Even with a raise likely it looks very tempting to me.

Interesting. They have internal numbers for 'chance of success' that they cannot disclose. Sounds obvious but I got the impression they are confident.

DM showed chart showing drilling mid feb to early March. So more content than just 'Q1'.

Watching the presentation. Nice comment about size of the rig with picture of it next to some people. DM says - 'those are not pygmies, those are real sized people.' It's a big rig.

I wonder if us PI's might get the chance to participate in a placing this time?

Wyndrum. You can't raise funds without have the certainty of progress. Hence why they haven't done so. What do you say to investors - we might drill so give us some money to burn. This round of publicity is exactly to provide that security - come and invest now, the drill is going to happen, if we declare a discovery you will be well rewarded.

Waiting until after the drill is done and then raise cash assumes a discovery. That's just not how this works. If they get a duster we can expect HE1 to go bust in that circumstance.

Unless of course they provide a view on other projects coming next? OR they know they have a discovery and all of this is just to do the compliant thing and prove it as per the regulator guidelines. Can't see that myself - they know there is still some risk as you would expect.

Mrshares1 - you would go to jail. I can't imagine that any insider is allowed to buy shares until assay results have been released. Whether they know something or don't doesn't matter.

We have been told assay results in Q1, which is just a few weeks away. Honestly thought they would show us results from an initial handful of drills but I guess not. I can imagine reasons for this that are good and bad.

I wonder what control WSBN has over how the results are provided by the lab. Could they have said - show us when you results from x number of holes? Maybe others know better. I get the idea that you build a picture until you can show what is in the ground with some certainty but it doesnt always seem to be what exploration companies do.

There will be a fund raise immediately all the ducks are lined up for the Q1 drill. They can fund the 2 drills with what they have. They have to provide the market with reassurance that they can operate after the drill - EVEN IF it is unsuccessful - this is entirely prudent. If they drill and don't get the discovery they would then have no basis on which to raise cash for any next steps.

I'm glad they haven't done a placement during the long period with no drill. It's been a while since they raised funds so hardly surprising when it happens IMO.

I agree with Legalwolf that even if there is a raise this is still a good price to buy in.
No way though can HE1 announce a raise at the event tomorrow. Expect the question to be at the top of the list and be interesting to hear what language is used to 'not' answer it. Has to be in an RNS. TBH I felt the language used by DM last week sounded like they are expecting to raise funds but it's impossible for us to know when.

I suspect that some have sold the 0.012p placement shares. I though about it. It is profit after all.

D-Geeman makes a lot of sense. Most important question is to ask yourself whether you can afford to lose the money you invest in this. Absolutely not a safe investment no matter what you might read on these boards.

For context I have an AIM portfolio in an ISA that is a very small part of my overall worth. about 1 fifth of that is in HE1.

There is huge potential for HE1 IF they make a discovery. If you have a look around the history of other gas and mineral exploration companies you will see that these shares a littered with well meaning failures.

I invested for the potential because if they hit the money my small investment will have a meaningful impact on my overall savings. If I lose it I won't really notice apart from my pride.

Maybe we are not seeing much trading or SP movement because the boss told the market that the significant drill results will not be available until Q1 2023.

Just a thought!

So if he1 waits for discovery before fund raise - well what happens to HE1 if we don't get a discovery. Even worse - an almost discovery where we didn't quite get a discovery but see signs that it's worth pursuing the site further. They might need to raise cash to continue to operate and the SP will have collapsed.

Expect cash raise ahead of drill. I think HE1 will build publicity and maybe RNS something to make it clear all ducks are in a row for x start date. Have to say I'm OK with a raise as there can be no future beyond the a couple of drills without one. It's AIM so invest to realise potential is to be expected and we all have to factor it in. Should not be a huge dilution though. Be nice if they offered a placing to us PI's like BOIL have just done.