Member Info for Skippysb01

I reckon the rabbit out of the hat tomorrow is that they don't need additional funding to finish Itumbula. Lorna misspoke and they have checked pockets etc. Apologies all around and the drill is fixed, the new rough neck has arrived and they have sold the old one to Noble for parts.

6:30. I have seen a cheeky RNS at 6:27 before. Not HE1 though.

There is also no way they will reveal specific details about funding at an AGM.

Surely an RNS tonight or first thing tomorrow?

Porters. I was about to write that whilst for us holders the dilution is not a good situation, it is a clear indication of a functioning company. They will complete the current project IMHO and there is still every chance a discovery can be proven.

I suspect this is forward selling of placing shares. There was a bunch of 1m / 2m trades yesterday. I expect they were forward selling too. Think if I recall they were about 1.5 too. Placing might be around 1.4.

I'm making it up as I go along just like the rest of you.

OK. So settled at 10:39. Suspect it was being filled for a few hours before then. It would expalin the morning drop in share price. Can't ever be sure but don't see any indications in the SP that a buy like that happened, SP would have bumped up.

It's way too off kilter to have been reported in real time. Should be able to see if it is a late reported trade in a few minutes. I suspect its a sell from earlier or even yesterday.

Really? You thought the company NOMAD would speak to you and give your the answers you want - just you.

Sounds a bit mad TBH.

Surely the RNS was reviewed by legal before it was released. Surely advisors know what the impact of stating that funding is required would be. So why was it decided that it needed to be included in the RNS? Why the specific mention of 'unsolicited'.

One thing that does occur to me was that at the last AGM (it may have been an 'investor presentation') the question of funding came up and they couldn't answer it to the satisfaction of shareholder and everyone went away from that expecting a fund raise. Maybe they decide to jump the gun. Can't deny it/can't confirm it/can't ask the AGM not to mention it because its a specific vote!!

Still - unless I just didn't have a clue - I would not have written it into the RNS unless I knew I had a way out. But that's just me.

Some interesting trading happening at the moment. Like Doctor Evil is on to his broker.

Not much that Coco writes is true. That's not the point of Coco.

Cromwell. If they have a placing now at less than 1.5p then yes it will be a very stupid way of doing it considering they would then be seen to have announced themselves to a lower SP. I don't know until we see how they play this. I'm not sure they need much funding at this stage but maybe some other way of completing this current project is in hand. We don't know but if it is a placing and a big dilution - I'll be disappointed and make appropriate plans based on what that looks like.

I was being conservative with the £100m. really depends on what the discovery looked like. Or no discovery at all of course which is the other side of your AIM risk coin.

So if you are shorting or just looking to influence sentiment to get a better entry point - this is the type of thing you bring up.

H&S is for the company to manage and we should assume they do. Seeing a oic of the rig and then extrapolating that a patch of paint indicates something to be concerned about is just dumb thinking. Or you all have an agenda. No surprise to me that several of you jumped on it to try to make it sound like something to be concerned about, It isnt.

If you can't get your head around the risk of dilution do not invest in AIM.

Frustrating as it is we should all be a bit more objective on what the outcomes could be. Ultimately you invested because there is a chance of finding commercial helium. If HE1 does that lets have a conservative look at the market cap potential for a discovery. Let's conservatively say £100m (I'm not saying it gets there on day 1 but considering the demand for helium - if we have it they will come). Thats 5 x from here before dilution. If we have 50% dilution ... do the maths. It's not nothing.

AIM exists so that small cap companies can raise funds through dilution. There would be no AIM without it. It's a given until the company meets its objectives and/or if the company becomes a going concern.

Rick seems nice. I wonder what Rick is up to?

So nice to have people like Rick and Coco looking after us . Lovely bunch.

Lorna said quite clearly that they thought that they had fixed the hydraulic and the electrics during the last interview. She couldn't say 'its fixed' because they are waiting for the iron rough neck from the USA and they will want to build it on the pad and then confirm everything is up and running. It all fully integrated so the only way to know for sure is to see it working in practice.

LOL they won't go into administration. Today they have funding. They need additional funding to get through to the end of the drilling for this project. They likely have millions in the bank today.

LOL. Minchin was so tight he managed to get one half of a drill done in 2 years. That's what we need. Ridiculous.

The rig drilled a well to 1500m. It isnt crap, it needs new parts.

This project isnt finished. I would agree that BOD changes will be required if the project doesnt finish but right now it's going to get finished and why would anyone want to change the BOD now when the best chance of success is to complete the current project???

Just ridiculous to have a tantrum over this before it's done. What if they find commercially viable helium in January? Do you get on the phone and ask Lorna to come back?

The SP reflects the uncertainty. Will HE1 successfully drill again? Will HE1 be able to fund completion of the project? Does the market trust HE1 management.

I reckon these questions can be positively answered over the coming weeks and this will take the SP back to more sensible levels.

If I focus on the end game. It is way more likely today compared to 6 months ago that commercial helium will be established in Rukwa. Imagine if we had drill Tai3 and there were no Helium shows at all..... that didnt happen.