Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
A nice tweet from HE1 would be great: sample draft below:
"Exciting times ahead! HE1 remains focused on concluding the contract before shipping the Rig by end June. With freight booked, roading to Tai built, and ancillary drill items sourced and at the site, everything is on track for our planned August spud time. Stay tuned for more updates!"
For nearly two years now, since the unsuccessful drilling campaign, significant salaries have been paid to all involved, including directors on the Board. Throughout this entire period, their focus has been on resolving the drilling issue, which, in retrospect, seems almost laughable. However, the consequences are far from amusing, as their actions have tarnished the project's reputation and led to its downfall. We do however have ONE more chance I guess - what a FLUKE.
Must be a huge number of contracts to work through and to have them all working together and locked in
Contracts matrix:
Drill with HE1
Drill with Noble
Drill Support Crew with HE1
Drill Support Crew with Noble
Export and Shipping – Tunisia
Import and transport – Tanzania
Employment visas for support crew – Tanzania
Accommodation and Site set up costs – Tanzania
Flights & Visas for Mgmt. team members and support crew
Insurances of all kinds required
Trucks and spades
HE1 and Noble – share costs, workings of arrangement
etc etc etc
Is the support crew to operate the actual set up at TAI part of all this or is that a separate contract?
And in addition - Noble have the same amount of money as HE1 including the second round in couple months - and they doing 2 holes yet HE1 doing 1 - same drill, same deal as Noble, same level of cash funds -- how can this be explained?
At least it is an opportunity for her to engage with shareholders as she said she wont engage until contracts signed but she could engage on explaining this as an experiences geologist. Would be seen in a very positive light - doesnt seem like she will though.
I noticed that JW's body language conveyed his skepticism about HE1, and that raised concerns for me. Additionally, I'm troubled by the lack of communication from Lorna regarding the rationale behind using both project methods and why they are beneficial. As an experienced geologist, it would be wise for her to provide an explanation to us as shareholders. It could be a productive task for her while waiting for the lawyers to finalise the contracts and additional paperwork related to the drill export.
One impressive aspect of Noble is their strategic approach of having a second drill lined up in advance, providing them with a backup plan even if the first drill doesn't yield the desired results. This demonstrates their foresight and preparedness. On the other hand, I must admit that HE1 disappoints me greatly. Despite their project being in the works for over 5 years, they seem to have reached a dead end with a one-shot plan and no contingency in place. This lack of a backup plan is concerning and raises questions about the management team's approach. After investing so much time and effort, it is disheartening to see them relying solely on a single opportunity without exploring alternatives.
And HE1 have paid half of it I assume so Noble get the full long term benefit??
What we need from HE1 is some visibility in post-Tai drill plans - if they drill Tai and then Noble get the rig for their 2 wells and retain the rig for further works, where does this leave HE1??
I have noticed a concerning pattern among certain board members who seem to contribute very little to the business. They are quick to bask in the glory when things go well, but as soon as challenges arise, they simply resign and move on to another board, leaving the mess behind. It is disheartening to witness this lack of commitment and value from the current board members, especially considering the rollercoaster journey we have experienced over the past two years. It is crucial for the success of this project that we have dedicated and actively involved board members who are willing to roll up their sleeves and contribute meaningfully. No evidence of this is there?
Skippy thanks for this - IMO Lorna will be highly inexperienced at dealing with these complexities but what value do the people who sit on HE1's Board provide the project? Given the performance of the project to date, I looked at them at the AGM and I see people who just sit there so they can say they are on the Board of such and such a company - I dont really see what VALUE they bring to the project - any perspective on this to share?
Regarding Noble Helium, I see they were 50% oversubscribed in this latest capital raise and only going to do one hole instead of two? Why didn’t they take the full funding for two holes as planned in their previous presentations? Or have I interpreted this wrong?
It appears that individuals are investing in this stock, even if the trade costs exceed the value of the trade itself. This could be seen as a positive indication, suggesting that these investors anticipate significant gains in the future that would eventually offset the cost of the trade. Unless of course as Skippy puts it, it's a free trade. In this case it would appear people are investing with anything that have left to trade with even if it is just a small amount.
I agree Cocobeans, I suspect, even thought vols are high, that this remains widely under the radar as its clearly an easy money spinner - if I had a spare million quid I would go in here and double it easily, would be the fastest million ever haha - all IMO.
Ok cool, thanks Craig - very exciting times now - looking forward to the contracts, the details within those contracts and mobilisation.
Craig - late afternoon UK time is midnight in Perth - doubt RNS would come out at that time?
Once Noble confirms the details, likely on Sunday night UK time, before the market opens in Sydney on Monday morning, we can anticipate a significant impact on HE1's share price. Assuming the confirmation includes the assurance of sufficient funds, it is highly likely that HE1 will experience a substantial surge in its share price at the start of trading on Monday morning!
Yes, I share the same suspicion. It's possible that a few text messages sent from the campsite, following Randy's emotional reaction to the broken drill, could have influenced people to sell their shares. While this is merely my opinion, it's important to acknowledge that such occurrences are not uncommon. However, in the midst of uncertainties, all we can do is maintain hope that everything will ultimately work out. The RUKWA region possesses immense potential, and the success of this project holds significant benefits for everyone involved.
Indeed, it is worth noting that the opportunity to acquire shares at 5.4p might have existed, albeit in smaller volumes. However, the placement of an extensive 200 million shares at a price of 5p is far beyond what retail investors typically have access to. Such large-scale transactions often favor wealthier investors who can benefit from favorable terms, while retail investors like us are left with limited opportunities to participate in these lucrative ventures.