So the funds needed for NHE to drill won't occur till August? Maybe just a formality the process with of an EGM late August but means all those 18c shares hit like late Aug or Sept at a guess.
End of August to have the funding to drill? That leaves only Sept/Oct to drill before the Tanzania wet season? So I guess it helps the rig sharing agreement so its already in Tanzania with HE1. If UK listed HE1 succeed or fail (after their 2021 failure) drilling early Q3 might have an impact on the NHE shareprice in the meantime.
Does NHE however need to wait till they have the funds at the end of August after the EGM in order to properly contract the rig? Prior to that maybe only an LOI with Sofori? Or a contract soon but contingent on NHE obtaining the funds needed to drill later?
Ann: $13.5 million Placement for Drilling at North Rukwa Project, page-3
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Last
5.9¢ |
Change
-0.002(3.28%) |
Mkt cap ! $28.00M | |||
| Open | High | Low | Value | Volume |
| 6.1¢ | 6.1¢ | 5.8¢ | $23.74K | 406.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300000 | 5.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.0¢ | 896530 | 3 |
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| Last trade - 15.58pm 09/07/2024 (20 minute delay) ? |
| NHE (ASX) Chart |