Member Info for Skippysb01

I bought at .25 day after placing to bring my average down to about 2p. I’m very realistic about the risks and getting to 2p looks like hard yards to me and needs a discovery perhaps. However if noble declare a discovery I think this looks different going into Januarys drill.

Sentiment is so important. Over the last year the gas has literally been let out of AIM mining stocks but these things do to run in cycles. There is a massive potential resource in Rukwa.

I do think my .25p shares will deliver a solid return. There is helium in the wells and so the chances of success have increased IMHO. I take the rig issues as a given and it may be a contrarian view but I like the prospects more than ever but the dilution was beyond all expectations. Withering.

Haha. Brilliant.

Oh no! I accidentally thought about Godzilla too! It just popped into my head!

Does anyone remember the Pathetic Sharks in Viz comic. Something about this message board at the mo reminds me of them.

Don't forget that the mcap is going to be more than that when the new placing shares are added next week. More like £9m.

Do agree there could be plenty of upside from here as long as the drill goes well.

When the market opened this morning I ran about 20 quotes until the ask hit .25p. No way was I going to pay more than that considering the placing is ongoing. I can't imagine most other investors are any different.

But everyone knows what the placing price is so why would anyone want to trade at any other price - or as close to it as possible - whilst the placing is ongoing. MMs have nothing to do - there just isnt a market whilst the placing is ongoing and the sp will stay at .25p or near as it can until the new year.

Hasiba. Its true that places will not all just sell up immediately. But they may do, or half of them or whatever they see fit.

It will be hard for the SP to rise because selling the .25p shares will get tempting very quickly. It's a long way back. This is why i bought some today at .25p because I too would like to sell those well below my overall average - effectively I see my purchase today as totally separate to the losses I have made to date. It seems to me that getting over .25p is very likely but say over 1p / 2p seems really hard from here.

If they hit a discovery it different because the market will align to a market cap that has some credence.

Doesnt the value of the placing shares still need to be added to the market cap? They get added 28th Dec I think?

LW - I'm just pointing out that its not a simple as showing confidence. Its been a dreadful couple of months for longer term holders and I'm not defending anyone. A number of posters have suggested that the management might be conspirationally manipulating this company (which is carp IMHO) but it's a fine line.

Also - I have seen many AIM directors buy shares and then it comes to nothing. It's symbolism at best. I tend to find that directors who buy large amounts of stock have very deep pockets already - it's not relatively skin in the game every time it happens.

What would it look like if the BOD took a large number of shares in the placing and then the SP goes up. Not a great look that they are able to exploit the low SP compared to LTHs. I think the NOMAD might have something to say about it. It's not as simple as them coming in big time through the placing to show confidence.

The weather and geography at Intumbula is favourable for drilling in Jan. I wouldn't think a delay to spud will happen due to weather.

Ignore buys v sells this morning. There is no spread in practice. My .25 buy being an example.

I was able to buy at .25p this morning to average down to 2p. It cost me very little.

Its a long way back.

I'm expecting them to announce funding. It's still the most likely outcome IMO. Sounded like funding was an ongoing negotiation when it was discussed at the AGM. No idea what the shape of that will be and do appreciate the SP might be impacting that and the risks but don't be surprised if they announce something.

Blubay - we all know that. Surely? It's not like anyone should just be invested in HE1. The firms you mention will not drive great returns. Overall, for safer returns I prefer funds - dull but rewarding longer term.

For me this is a punt that could make difference to me if it came off. If it doesnt I still have my relatively safe and very dull pension fund. If they find commercial helium and this gets to say 20p then it will pay off a chunk of my mortgage and I may retire earlier. If it doesn't I will need to be a bit more careful with next years bonus.

You are right to point to the risks.

Its not like they didnt find any Helium and the outfit just down the road sent a sample for a separate well to the lab to see if they can confirm a discovery. The geology is constant across the Rukwa basin.

So IMO it's a higher COS at this point. Not trying to make it sound like there isnt risk - there absolutely is but it's more likely to be a success now than it was before Tai3 - based on what has been found so far.

Exactly - bet you did look at 11:00 though.

Gogs - did they ever call you back?

Yes EGM

My preference is we get an RNS confirming funding. Shareholder action will not help the SP.

Crusty. if you hold enough shares you can force an AGM. Can't remember what he % is. Doesnt matter what the AGM did.

Likelihood is none of us on our own have enough shares.

Pint I was trying to make and badly with lots of typos was that Hargreaves Landsdowne doesnt own the shares - punters like us do.

HL doesnt hold the shares as such. That folk like me and all of the other punters who trade on His platforms. It take a single entity or group of entities holding the shares to force the issue with the BOD.

Lets hope we get news before that. It just isnt helpful anyway.