Member Info for Skippysb01

Most of us don’t give a sh#t about what the de rampers or the rampers Do.

Get over yourself. Nobody’s blaming you, we think you are a bunch of idiots!

This was by far not the worst week I have seen for HE1. Lot's to build on as well as lot's of questions to answer. But it's a better prospect today than it was before we completed the drill and testing for this one well.

Bluebay. HE1 isnt drilling those 6 BlueStar wells. HE1 has zero operational involvement they are just funding part of the drill work in exchange for a share of the production profits. If production is good and exceed the cost of investing then the deal is a good one.

Also think that whilst it's clear that investment is required at Rukwa to get to production, some nuts cost going around. However the additional drills are funded they won't cost 10m each, there are economies of scale and the number of wells would be drilled over time - the initial arch of wells would likely fund the rest and you can borrow against future profits etc.

I was surprised to see the statement about 20-30 wells in the RNS and wonder if that is what they have lined up through some form of JV which has been pending the EWT results. More to this than meets the eye.....

Your assumption that the Blue Star investment is a mistake is just your opinion though. You have a lot less data to back that up than the HE1 BOD does.

Crusty. It depends if they have any offers incoming for JV or otherwise. They may already have advanced those discussions pending the EWT results.

They may pause for a while waiting to see what interest there is?

If they don't get any third party investment they will likely keep working to prove it up and that's when they will need to go to market again.

Show me a single mining resource that is producing and making profit today that didnt require significant investment to move from discovery to commercial profit.

Exactly.

Nobody actually believes there is going to be an immediate fund raise. The Blue Star raise was opportunistic for a specific investment and as has been covered in a separate thread - they have enough working capital right through this phase of the EWT and mining application. I think through the year.

I reckon we will see the sub surface modelling/resource modelling.

Feasibility study and subsurface modelling underway ready for integration of EWT results ahead of Mining Licence application

Ezhik. Please explain how the HE1 investment in Blue Star will be diluted? You haven't read up on that one have you....

Don't thin so. May be some placee shares still in play but most of today's selling is down to fear. Fear isnt a logical process.

To be fair there isnt any point in anyone posting anything because the message board is full of idiots posting stupid stuff.

If your only beef was that you didn't think HE1 has a chance of returning s profit for investors well you wouldn't be here at all. You would need to be genuinely thick as poop to post here for any other reason that you want to buy at a lower price and you think filling the board with lies and chaos will help you achieve that.

Note - I haven't ramped a thing.

Give it longer than 36 minutes.

Artificial lift is completely standard in mining. Expected.

Trot on then.

If you can do long division you won't have any issue with the number of shares in issue. Maybe you covered this at school?

A ton of feathers is the same weight as a ton of fools.

Many of the bigger 'buys' were sells related to the placing. You cannot possibly do the math on buys v sells as nobody knows for certain which trades are buys or which are sells.

In any case it isnt how the SP is moved. It's more about liquidity in the moment.

Agreed. Also the SP often falls on Monday through Tuesday with this share. Expectation of an imminent RNS will build now. It's easy to RNS a dud and thus far we can assume the company is assessing what they have found. It's certainly not nothing.

Can you imagine if the Blue Star RNS was issued on its own before any EWT results....... I agree with John Henry on this one. I'm glad they did it the way they did.

Did they not have to announce the placing because it was linked to a third party who were also announcing at the same time? I agree it seems like quite the coincidence but if they delayed another day - did we want to hear about the Blue Star deal from Blue Star first?

You cannot manage the closing of a deal like that so that it deliberately lands on a certain date.

The only conspiracy theory I might entertain is that they had enough EWT data at hand to issue that at the same time to mitigate the risk of the SP falling due to the fund raise.