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A second drill back to back fully funded in a proven zone with low acquisition costs sounds about as good as it gets for now. They are starting to show the strength of the BOD. It looks like David Minchin made the right move so release the beast David and start ramping like we know you can do! GLA Swissy.
Back to back drilling is good so if the first well is a duster you have the second one to look forward to so hopefully the drop won’t be as big as if it’s a one shot drill
How much is the acquisition ?
Says upfront payment, $250k plus 600,000 shares...
Seems really cheap for $250m in-situ, if so sure why would you sell that for ~$400k..
Probably more to pay, and maybe a raise to cover that especially if current funds are to cover a 2nd drill
https://uk.investing.com/news/stock-market-news/helix-exploration-unveils-acquisition-of-rudyard-helium-project-3554675
No its 100k cash 150k in shares but they are at 10 pence so if he sold today that be 300k.
I guess he has the licence but cant afford the rig himself so had to sell it to his company and take a chunk of cash now. He works for them so Im sure their are other perks......
Badly written article
"It is making an upfront payment of $250,000 in cash and 600,000 new shares."
So Its $250k in cash and shares (£100k, + 510K shares at market price )), plus 600,000 shares at 10p as a fee(instant double)
He is part of the company also so im sure he will get lots of chesap shares along with the other ones.
Anybody dummy sold HEX recently, is it selling for 21.65 at the moment ?
Printed trades make it look like its all selling, while I suspect its tight 21.65 sell ~22p buy
Another drill, but price dropping.. 21p to buy....tempting..
Could there be a dip before a rise into drilling or will people derisk early
It’s down to 20 pence to sell, not a good day. It’s already doubled since ipo so maybe 25 pence was the top price. I hope I’m
Wrong but don’t be putting more money in right now
I can see it rising to new highs if they announce an early Q3 drill date. If it's late Q3 could definitely see a drop into the teens again. Minchin should know how to get it pumped I reckon 🙂. Kebab box for me btw, feel dirty now lol
I don't think 25p is tops, but AIM is bent, and every player is after your money, so it gets pumped n dumped, locked sideways, allowed to rise so easy but not drop, allowed to drop but not rise,,
Hex, Been showing an Ask of 23p most of the day when you could buy for 22p..
When Ask was 22p end of day you could buy for 21p..
Based on buying 100k shares, its was £1400 cheaper between my first and final quote, with another ~£1000 to consider recovering on the bid,,, so could have been £2400 down on a quiet day...
Hex, spread games, really hard to work out from the printed trades the going price
He1, that seems as if its being worked by the smart money, seems they are happy with about 40% profit
I have a live list, more than I can follow, watching for lows on a number of shares, rather than just 1 or two, all you need is to open an account is your email, other details can be left blank
Kebab box, is it made from rice paper ?
Enough chilli sauce probably tastes just like the pitta bread...
I remember the rice paper you could buy from the sweat shop
Typo for Void if he is watching
https://www.youtube.com/watch?v=yNG7fgwrWBQ
I think it’s gonna be late q3, I’ve got a feeling that if it was early they would be talking about it by saying x amount of weeks until we drill. I tgink it’s quite a while away still, I just hope he1 doesn’t pull some hi bag out the bag and pull the investors over there. Again he1 it went of 0.5 to 0.7, I fear that’s the trading opp on that one. Getting in now a real gamble which way it will go with less profits. If results are good it could go on a run like before so I’ll prob jump in then this time
HEX BOD are now saying two drills in Q3 KR so if first is say 3 weeks (I think that was mentioned) and Rudyard 2nd drill is shorter say 2 weeks as it is not as deep then they should be getting a wiggle on soon.
Did they say they’re gonna do both drills in q3 or gonna start the drilling programme in q3?
I’ll try and find an interview to see what it says.
And the earlier Minchin Ramp.
https://www.proactiveinvestors.co.uk/companies/news/1050186/helix-exploration-s-strategic-expansion-into-rudyard-area-of-hill-county-montana-1050186.html
It sounds like they need to do an extended flow test that takes 30 days. I can’t workout if that’s part of this process or not.
He was asked what the plans were, he just said a second appraisal well, no mention of extended flow test..
So could be the appraisal is the same format as an exploration well, just done where there is a know discovery..
`Drill and flow, finish for production testing ....
If thats the case debt financing could be off until after an EWT
That way it would allow them to line the city boys coffers, with a good discount create lots of upside at the expense of the LTH.... Just hope they don't hire Sarah and Lorna ;)
Yeah maybe, but with dm I always feel you know half the story. They want to go into production next year so is the plan just to get a helium show then go out and buy the processing plants? Seems very risky unless they do these drills then go back maybe early next year to do the flow tests?
Could he just be selling the story that sells, while lining the pockets of somebody in the background..
Low value IPO, means it can multi-bag early..
Get that 1.3% Helium flowed to surface, then start talking production, big it all up in the follow up video, and leave it hanging on an EWT... Easy £50m MC, x5 bags...
I wonder how many companies without production facilities already in place skip an EWT, mind you aren't HEX estimating to get in production fractions(exaggerating) of possible MC ?
PRD, and He1 both rocketed on speculation...
Yeah true they might get away With not doing one. Tbh dai most of the bod are rich already. They had huge stakes in the business at a penny a share so since then their shares have multiplied by 20 odd times. The real winners will be the bod here
The rich are rich because they like making more money if there is the opportunity
Are the BOD owners or employee's.. ?
He1, virgin Island registered, I don't believe the BOD are the owners, every drill 3x the cost of PRD, both operating in Africa.. ??
Was listening to a Rick Rule talk the other day, and he was going through why he doesn't like investing in pre discovery juniors. One of the 'scams' he warned about was 'pump and dump' IPOs, where the seed investors get in very cheap pre IPO, and then dump the shares post IPO during the so called transformational drilling programme. It reminded me of HEX. But Rick did say that you can make a lot of money from these shares as well if you know what you are doing, and can see the P&D set up.
Also reminded me of when Minchin had very cheap shares and options at HE1, and there was speculation of him having dumped them when he left He1 (and so no notification was required). If so, he would have made a killing on top of his HE1 salary. AIM is one big casino game, with very few genuine companies (and BOD). One big pump and dump market.
Are HE1 and HEX genuine, or pump and dump trading vehicles?