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The RNS said equity finance but they can’t do a placing at less than 5p or issue new shares via a CLN at less than 5p (bring the nominal value) unless they do a share reorganisation first, which takes time and (I think) requires the passing of a shareholder resolution, bearing in mind the current financing gap is short term. The problem is they probably didn’t expect the SP to tank below 5p so they have a conundrum. Interesting to see how they get around this…..

The CLNs have been converted at 0.1p or thereabouts so the fact the SP is 0.2p tells you that no one with any ounce of sanity is going to pay more than that when there could be repeated CLN conversions to come. IMO when they cannot find any alternative sources of funding (and they won’t) the company will have to cut costs even further and probably delist.

Just watched the presentation which was very informative and he dealt with the questions very clearly rather than in the subdued way he did on Stockbox. The company has a plan for growth and it all makes perfect sense to me. Bitcoin opportunity is dead, ORR is key (brought to the company by PM through their relationship with Hunting) and acquisitions doing well especially with oil price at US$90 per barrel. Net monthly cash flow in April 2026 expected to be US$200,000 with production to increase to 200 bpd by the end of 2026. The ambitious 5,000 bpd target will necessitate acquisitions and they are focused on the right opportunities.

PW presenting to investors and potential investors later today. His last Stockbox interview wasn’t great as he was floundering when asked probing questions about numbers. Today is a chance to be more engaging (pun intended) and be more convincing about the numbers, projected revenues and cash flow etc. I know he can’t divulge a lot outside a RNS but he can be more overall reassuring especially in current high WTI price environment. Less general waffle and more specifics please. Right, Tony45 over to you lol

Looking like a weekly programme of CLN conversions of £50,000 - who’d be daft enough to invest. Last time they got the shares for around 0.1p and sold them (3 business days later) for around 0.23p; this time they’ve got them for around 0.1p again - wonder what they’ll sell them for, assuming not all already forward sold. I’m in the wrong business; and actually, this behaviour is blatant, disgusting and immoral.

Come on Janiax, this company isn’t in a great place and the current funding they have is classic death spiral financing. If, a big if, they secure better financing terms elsewhere (good luck with that) then they might extend the cash runway a few weeks longer but unless that happens the SP trend is downwards unless the revenue streams significantly improve and the company veers towards being cash flow positive.

They didn’t clear the CLNs, they sold the shares that they acquired by converting £50,000 of the CLNs leaving more than £4 million of the CLNs intact. Please be accurate as details matter.

The MCap at 1.4p SP = £192m and at 2p = £275m. The upside potential is massive from here; hopefully no more material shareholder dilution. TK is at least a £1bn asset and with more to come once they go deeper underground and then other Ethiopia opportunities. Oh, Harry to stay; he’s done all the hard yards, is well connected and has a strong team around him.

I’m in the wrong business; so on 8th April 2026 they converted £50,000 loan into 48,692,603 shares and then 3 trading days later sold them all for £112,000. Also, given the substantial discount to the prevailing SP that the shares were issued at, and most of the £5million facility is unused, what’s to stop this happening and happening every 3 weeks or so. Death spiral finance indeed, don’t think I’ve seen a worse case, unless I’ve misinterpreted what’s happening in which case, happy to be corrected.

Re Tanzania, the current HE price increases and the geopolitical situation perhaps makes Rukwa more attractive to an off taker I would have thought so hopefully the Board is finding it easier to engage with off takers and secure a funding deal.

Following Trump’s speech the war isn’t about to end and the US says it will attack infrastructure (electrical, oil etc) if the Ira Ian’s don’t do a deal shortly (a war crime announced in advance BTW). The Iranians have stated previously they will respond in kind and the Qatar gas fields would therefore be vulnerable, which if these were attacked the world Helium resource availability would be further restricted thereby increasing the price at which helium sales would be negotiated. IMO there is upward momentum on helium prices and HE1 isn’t likely to do another fundraise anytime soon having just raised £3.5m. Chances are the next news release from the company is more likely to be positive than negative IMO.

Yes, but we are now fully funded, and I’ve added 28% more to my holding at around 1.15p so carried my weight and not diluted at all. I’m sure others have done the same and probably at a lower price. Harry had to do this placing as the constant delays were becoming embarrassing and we needed certainty. I don’t ex-ext the share price to rocket once the placing has cleared as we are still 2 years from first pour and many won’t want to tie up their money for that long, of course when they do we get the herd mentality and FOMO kicking in. In the meantime a good time for LTHs to quietly accumulate at these low prices, risks not withstanding.

Nothing new, nothing has changed, today was a date in the diary for interims and nothing more, just need patience and to wait for 2a and SC to throw out the appeal which is nothing more than an effort for Hebei to buy time and kick thexan down the road

Given the now very low MCap a fundraising will involve horrific dilution and I think this will have to delist. It’s a business that burns cash and produces very little such that you have to seriously consider its viability going forward.

Let’s face it anyone could buy below 1.2p yesterday in the market so who was going to go for the retail offer after Trump’s announcement on Saturday? If it wasn’t for Trump more would have gone for the retail offer and it would probably have been oversubscribed. So, putting it in context, the amount raised is an excellent result.

Question though, if the resolution for the 2nd tranche is passed on 14 April but the SP is below 1.2p can the goalposts be moved and the placing price dropped or is it a legal binding commitment at 1.2p carved in stone?

If Trump decides to put men on the ground on Kharg Island it would be a shooting gallery for the Iranians.

Only a moron would vote it down to stop us being fully funded. Blunt I know, but true

Fantasy, Harry has not lied to shareholders. When the facts change Harry has to react to them and as sign off and securing the extra funds was being continually delayed he probably decided sod it, let’s get it done and do a final placing and put this to bed once and for all. Yes, 1.2p is disappointing but 6 months or so ago we weren’t even above 0.6p so some perspective needed. We don’t know what facts changed and he may well reveal this in interviews but to call him a liar when things don’t go our way is just wrong. Upward and onward from here

The RNS states that the number of shares will be quantified once the book build has completed although it also notes that the new shares issued will represent around 28% of the enlarged share capital. Yes, they’ve got the final $20m and are now fully funded or will be if the 2nd tranche of the placing goes through.

I remember that GGP did a last huge placing at a significant discount to finalise funding to buy out Newmont and acquire 100% of Haverion and the producing Telfer. There was outrage amongst retail investors at the time expressing similar comments to those on this website in response to today’s KEFI RNS. Hopefully history repeats itself as going forward it worked out very well for GGP shareholders…..