Member Info for Skippysb01

They had a meeting this morning and decided to go with 'forward selling of another fund raise' and 'skippy used to be a half decent poster'.

I expect the lenders at .25 have other things to worry about - like being very wealthy and wondering what to do with all of the other money they have.

Is that a compliment?

Glenhoss. Why would you post that? It's a better question.

Turbot - don't ask LW why he is here. He will accuse you of being emotional.

I should have let LW do his usual review to see if was any different to yesterdays.... apologies for missing out on that potential for mirth.

Its yesterdays interview.

Lets face it - its easy to de ramp an AIM company. You know that most don't succeed and therefore its like the proverbial broken clock, pulling out the usual mood hoovers.

Investing at this level of risk assumes a level of failure. Currently this is my only AIM investment and it's really not much - a discovery would materially change that but a wipe out won't make much difference. It would be disappointing for sure.

HE1 will have learnt a lot from Tai3 and I expect the funding and time projections reflect that. Barring an absolute nightmare drill they could be done drilling in a couple of weeks and testing gas. As with all AIM funded enterprises there are significant risks but likelihood is that they will have sufficient working capital to step back and reflect in February and plan what's next.

If they discover at Intumbula then much of this funding talk will be irrelevant anyway. But caution to us all - it's not the most likely outcome but it's certainly a possibility.

'Outlook and Working Capital Position

Following the completion of the Tai-3 well drilling programme, the Company retains sufficient funds to remain a going concern, with a current cash balance of $3.2m. The proceeds of the Fundraise will provide up to an additional 3 months working capital including the drilling of the Itumbula West-A well.'

I expect there will be a period of planning after the Intumbula drill. It's obvious that more funds will be needed for another drilling campaign but all of that is dependent on what happens at Itumbula. This of course would be the same for any AIM exploration company.

The stock is highly volatile due to the recent placing. This is pretty clear.

The idea that there is forward selling of the next fund raise just 2 weeks after the last one is clear de ramoer playbook carp. You cannot even have read any of the RNS's.

So some of you are suggesting that there will be another fund raise now just 2 weeks after the last one?

What a load of old carp.

Pretty amateur group here. Firstly, that view is completely stupid and secondly its completely obvious that you are working together on this thread - because it simply isnt possible that more than one person could be this thick at the same time!!

Dai. I can’t find the reference to ‘fully funded’ in the operational update on 15th November (not doubting you - I’m also getting the kids ready for bed so just a quick scan). I’m sure though that they suggested they would need to update the operating plan (on 15th November) and then in another update on 5th Dec that they were reviewing the cost plan. Then of course we had the AGM and need to raise funds confirmed. Or something like that.

So there was a process.

Problem is you cannot RNS that you have a plan to move the drill to another location and complete the second drill if you know you. Any complete within current funding. You can RNS that if you declare you have a plan to fund it. The former breaks AIM rules and that is what the NOMAD would have advised. So a rock and a hard place.

It is bad planning. They should have raised more before Tai3. That’s hindsight though and it’s not as if shareholders would have appreciated it at the time, but if they had we would now be in a better position.

I think the point is that they could not RNS saying they were going to go to complete the next drill without being clear that they no longer had funding to do so. Bit semantic but the NOmAD would have advised that they were misleading the market and you can’t say you are progressing with the next drill without disclosing how you will pay for it.

The root of the problem was that they didn’t raise sufficient funds BEFORE Tai3 as they were over confident and didn’t include sufficient risk contingency. Once they went over initial cost projection they were basically stuffed.

I was just suggesting that LW might want to take his own advice and go away until results. He has suggested today that all of the discussion is just conjecture so he could just go and do something else.

Interesting to thing of LW and I being the same person though. That's real Jeckyl and Hyde stuff.

Actually it does happen. A few years ago I caught a de ramping gang red handed. They seemed to have a leader and I thought I had read something similar on twitter so I dug a bit deeper. It turned out that they were part of a self titled 'aggressive investing' group'. They gave themselves away by using some similar names on here and on Twitter. they had a website and were even offering memberships and courses on how to do it. I pointed out I had found it on here and it was acknowledged (I think one wrote 'well theres someone who does the research'). They didnt post on the message board - at least not under the same names - again.

The website no longer exists. At some point they would have realised that setting up a company for that - whether it was just a website or something deeper - is illegal. One called himself 'director'. Bunch of kids I think.

True story peeps.

I thought it was a good interview. Covered a lot of ground and was as open as it could be. Didn't tell me anything new but did reinforce some of the things I know already that others like to negatively promote.

It's just not possible for the CEO of a company that just diluted its value for LTHs like they did to come out and do an interview and for everyone to say - well that's just great. But for me it was at least a straight bat discussion that confirmed the company is drilling a prospect in good faith - to find commercial helium.

For everyone hurting after the fundraise it has to be about the learning. If HE1 doesnt confirm commercial helium they will move on and they WILL secure further funding and there will be further dilution. That's the cycle. It's the same for all AIM exploration miners.

Well why don't you just wait for results?

We have funding for Itumbula. Going back to Tai3 would be separate I expect. Best case Itumula is straightforward from a cost perspective and they have reasonable funds left but I am certainly expecting them to raise more to go back to Tai3 and maybe another drill either at Intumbula or Tai. - It really depends how this drill goes of course.

Actually it is very complicated. There is currently no reliable way of establishing where a resource is located underground. What we have are various scientific methods to increase the chances of discovery but drilling remains the only way to verify this. Exploration requires multiple attempts to prove or disprove a resource. There could be many or no traps in the Rukwa basin.

In the geology the helium has to leak from somewhere until is is either released into outer space or trapped. It can do both.

You have also decided to to ignore the fact that Tai 3 may will have drilled above a potential commercial source which could still be discovered with a deeper drill.

Thing is John you insult everyones intelligence when you suggest the entire premise of the drill is completely wrong. But you know that because you just pulled a cork out of the bottle of de ramping champagne and poured that onto your cornflakes.

It is in fact more likely that there isnt commercial gas at Itumbula because the cos is likely less than 50%. But what is the point of bothering to look without drilling. You have also completely ignored all of the scientific study that has led to drilling in this location in the first place and you think we should listen to you?

JH. There's currently no evidence you have a brain. We need to drill into your head to find out because absolutely nothing is seeping out.