The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Couldn’t get a copy or link to the PDF but here is the mention on the budget summary PDF from page 14:
“During the budget discussions several issues were raised and they are worth noting:
Tanzania recognised for its significant helium deposits particularly in Lake Rukwa faces a pressing need for a strategic and expedited extraction approach. Parliamentarians stress the importance of swiftly capitalising on this global asset through a well-planned extraction process aiming to optimise benefits for the country. “
GLA 📈
As I alluded to a while back I can see this being fast tracked through the required government processes
Part 2
Well very deep, possibly down to 40km+ right down to the Moho, which is the boundary between the Crust and Upper Mantle, shown here https://www.flickr.com/photos/194934344@N06/53714482060/in/dateposted-public/ And this shows that this profile 3-3' is taken from exactly where these new drill locations are being created https://www.flickr.com/photos/194934344@N06/53712688212/in/dateposted-public/ This is another theorised image showing the Ifipa fault going down to around 30km https://www.flickr.com/photos/194934344@N06/53713583526/in/dateposted-public/ But this is the thing - it is all fairly theoretical, as very little deep exploration work has been done around Rukwa, it is effectively virgin territory. He1 IMHO don't know where the fault at Itumbula goes, how deep it is, whether it joins with the Ufipa fault many km down, or exactly where the helium is generated which then flows into their fault at Itumbula. But it would appear (to me) that whoever is preparing to drill at Ilemba is targeting the deepest fault that they can find, which goes all the way down to the base of the Earths crust. Work started at Ilemba around last September, long before the Itumbula result was known. We'll never know why they were diverted to Tai, which could be a conventional reservoir, but it seems to me that both Itumbula and Ilemba are targeting quite different plays, not reservoirs but helium flowing upwards, possibly from 30-40km deep, and it is for this reason that He1 have not revealed any detailed results. They simply don't know what they have got, as they've never seen the like previously. The EWT may give an idea, and help to quantify. Whether it is Noble at Ilemba, who knows, can't think it could be anyone else, but why so secretive? But I think any results from Ilemba, could have a material effect on how Itumbula is quantified. And we never did find out what was in the Noble/He1 cooperation agreement, did we?
Part 1B
Now this is in a licence area applied for by Noble, but not yet approved or granted, they have never referred to any activity ongoing there. But activity is ongoing and in the last week more vehicles/structures seem to have appeared at the entrance to the main roadway (same dates as previous image) suggesting activity is picking up https://www.flickr.com/photos/194934344@N06/53712665497/in/dateposted-public/ so this is the area we are talking about with the main rift valley Ifipa fault in the backgound - it is drill location 1 we are interested in https://www.flickr.com/photos/194934344@N06/53693963576/in/dateposted-public/ So it looks like that well will target the main Rift Valley fault. Now I had assumed that with M1 and M2 Noble had also targeted the main fault which was what seemed to be implied here https://www.flickr.com/photos/194934344@N06/53070760686/in/dateposted-public/ But the reality is that they hadn't they just targeted a relatively minor fault system and found a shallow reservoir here https://www.flickr.com/photos/194934344@N06/53715382698/in/dateposted-public/ with this showing the faults in more detail https://www.flickr.com/photos/194934344@N06/53714260192/in/dateposted-public/ So it looks like the drill at Ilemba will be quite different to that at Mbelele. But why not just move a bit more inland at Mbelele? It could be to do with logistics, there are no bridges north of Mbelele, and the helium may be present in larger quantities closer to He1's area. So is the Ifipa fault a big deal, well potentially, yes. It is on this fault, and several others where the African continent is tearing itself apart theoretically powered by a Super Plume of molten rock rising up from the Outer Core. In 10M years this will be an ocean. So how deep does this fault go?
Continued....
part 1
rabbit hole time.....
we should get some clear views of nobles rukwa area later today, will post if there is anything new. this is the latest from itumbula from a couple of days ago
https://www.flickr.com/photos/194934344@n06/53714551200/in/dateposted-public/
there is some equipment on the pads but generally they remain clear. but there are mysteries at rukwa, such as who is prepping to drill at ilemba, why no detailed results from itumbula? i have an idea what may be going on, but it is only an idea, make of it what you will - another trip down the rabbit hole.... in the latest noble interview a couple of days ago they suggested that their well flow test would take place at mbelele-1 in august, there appears to be some activity at m2 but not so far at m1. they didn't mention drilling at ilemba, or new pad construction, or detail any of that in their quarterly report. odd. also odd we get little information from he1 on what they have found. why? well - i have an idea, they don't actually know what they've found, or are not certain enough to put it in writing in an rns. so information on itumbula-w is pretty sp****, the only diagram i found was for itumbula se and i've drawn iw on this as a black line, here
https://www.flickr.com/photos/194934344@n06/53351143405/in/dateposted-public/
they were not targeting a reservoir but a deep fault which runs away to the bottom left going down at least 2km+. this they seem to say is the source of the helium. long ago he1 produced this
https://www.flickr.com/photos/194934344@n06/53173631551/in/dateposted-public/
showing the faults going lower, perhaps down to 3km - the scale and other features of this image are actually way off, but it does give some questions, like how deep do these faults actually go, and do they join underground? anyway back to today and activity at ilemba, this is the most recent image showing continued activity with the slow building of roads and at least one pad, with activity continuing over the last week
https://www.flickr.com/photos/194934344@n06/53714350273/in/dateposted-public/
continued....
There seems to be a bad link for activity at Ilemba, hopefully good link here
https://www.flickr.com/photos/194934344@N06/53714350273/in/dateposted-public/
Thanks Skittish
Great work as usual.
Let's hope we get some news this week before Lorna speaks Thursday.
Ditto to what Half-of-2 said. Always look forward to and admire your updates skittish ☺️.
An interesting week ahead with good chance of RNS before Thursday when Lorna speaks. Also looks promising that Tanzania Gov could invest but on what scale and how much more dilution.
Why is there only Dumb money invested in HE1??
Lorna has spent more on make up than investing in HE1!!!
HappyDazes, you always add such a positive spin on things 🤦
We know you don’t invest and simply comment on stocks. Try becoming an investor and no longer a negative spectator. Or, is your 4% (per annum) ‘high interest’, inflation eating, savings account making your money work hard for you.
GLA genuine He1 investors. 📈
D3 Energy , now listed on the ASX.
https://www.d3energy.com.au/
Projected Stock Price
5.41 (315.85% upside)
Estimated share price
GLA 📈💪
PubCrawl, any chance you can be locked in at a bar for a month lol, what do you reckon today, (Blue), I predict 7%, GL
Clumpet, 10 to 20% I say because I have a hangover.
GLA 📈
Somethings happening - the 1.35 glass ceiling has been broken!
Going to be a blue week, no doubt. Just a matter of time. Then interim positive news and EWT etc before this rockets. GLA 🚀📈
During the budget discussions several issues were raised and they are worth noting:
Tanzania recognised for its significant helium deposits particularly in Lake Rukwa faces a pressing need for a strategic and expedited extraction approach. Parliamentarians stress the importance of swiftly capitalising on this global asset through a well-planned extraction process aiming to optimise benefits for the country.
Home from school pubbore ?