Member Info for andypaps

Based on He1's RNS today & just for comparison it looks like Rudyard could be at least the same size as He1 Itumbula resource based on what Bo has said in some interviews; I'm sure he talked about 4Bcf.

HE1 RNS today in CPR

• 2C Gross Helium Contingent Resources (Itumbula):

= 0.296 Bcf

• 3C Gross Helium Contingent Resources (Itumbula):

=1.346 Bcf

• 2U Prospective Resources (Remainder of ML area):

= 0.709 Bcf

• 3U Prospective Resources (Remainder of ML area):

= 3.228 Bcf

This should drive our share price as the jurisdiction here is easier and we are close to production. Looking at the HE1 message board there was some confusion as to size in the CPR as they gave the figures in Mscf. I think once it is all understood we will pick up today in price action.

Just expanding on my earlier post I got involved because I believe there are strategic reasons why a major U.S. tech company (e.g., Apple, Microsoft, Google, Amazon, Meta, or Nvidia) might get involved in the Bittensor network and potentially work with its technology:

1. Access to Decentralized AI Talent & Models

Bittensor incentivizes developers worldwide to contribute machine learning models to its decentralized network, rewarding high-performing models with TAO tokens. This provides a scalable, crowdsourced R&D layer — attractive for firms aiming to expand AI capabilities without centralizing all model development.

2. Control or Influence over Decentralized AI Infrastructure

By holding a stake (or running validators/miners), a tech giant could influence the future direction of decentralized AI, potentially integrating it with their own AI ecosystems or services (e.g., Azure, AWS, Google Cloud).

3. Hedging Against Centralization Criticism

Companies like Meta or Google, under scrutiny for AI monopolization, could benefit reputationally from supporting open and decentralized alternatives like Bittensor.

4. Interoperability Potential

Bittensor’s modular design allows integration with external AI systems or platforms, meaning Big Tech could adopt it as a complementary layer rather than a competitor.

5. Data Sovereignty & Privacy Use Cases

A decentralized AI model market aligns with emerging trends in data sovereignty, giving companies an edge in complying with local data regulations while still training powerful models.

As I said I was a little slow to the party but I'm definitely staying to the end. The "avoidance" of the bitcoin treasury could actually be the differential that sees this as a completely unique play.

Just got involved today. I have been watching for a while. Some would say I missed the boat to a degree but I don't see it like that. I have done my deep-dive research and I'm now confident that this will be a continuous top-up. I like the look of the income stream and the small market capitalisation , about £16.4 million. It's not really like the other bitcoin treasury plays, though to a degree it's seen under that umbrella as everyone expects it to go that way. I don't. IMO the potential on the Bittensor network far outweighs any use case of Bitcoin. This reminders me of 15 years ago, when a software developer paid for two pizzas with 10,000 bitcoin. This is where we are on the journey except it will be exponentially faster than the bitcoin journey. I would hazard a guess that 2 months of time here is equal to a bitcoin year of adoption.

I think Oberon Investments Limited haven't been filling out their TR1s when due. They issued a TR1 RNS dated 15th Oct 24 showing 9,813,812 shares held or 7.94% of the company.

The latest Helix official website page shows them holding 10,306,385 shares. The website says this is 6.566% of the share capital. Firstly this is actually 5.53% of the share capital and secondly should we not have had a TR1??

I'm happy for the share price to drift or stay around these levels. I will be adding substantially more when I can get my funds from my other share. The MRE at the end of June will give us a reading as to how disconnected the valuation is between share price and resource. This initial MRE will be quite conservative as we won't have the results of the new NE flank, and also the deeper drills. The key point Paul made in his presentation was that the MRE can only go higher when revisited in September. The question is how much higher. I actually think you could have a 100% higher resource estimate in September than you do in June.

I'm always going to be a buyer of anything upto 0.35 as that is what Stanic paid anytime I can get funds, (they would have been privy to some information we don't have and there would have been a very rough MRE prepared by them or for them when they took their stake) and I think that is our floor on the bid.

I know I shouldn't be too concerned about the timing or price paid when adding as I'm confident this will be a £1 billion resource in situ estimate come the final MRE. The worse case for an in-situ would be 20% of resource (based on jurisdiction) , if a bidding war break out whn it could be 35% of in-situ valuation. Therefore in my opinion we have a mean of £275m; a 14 bagger, and worse case a 10 bagger.

I can see that is the case now Lordloadsofolly, but they did play an instrumental part in allowing Metal Exploartion to buy Conrad Gold; I think they put up a £5m loan.

IHNC, absolutely not sarcasm but I understand why it can be difficult to get a feel for tone on these boards.

Hi accipiter, thanks for your feedback , I'm sure those on this board appreciate it.

Thanks Trek , a bit of light reading for when I'm finding it difficult to sleep. Cheers.

I see accipter (that's his handle) who posts on the MTL forum (90% of his last months post are there) stated this morning at 7.14 "Yesterday I bought into HEX because of Drachs taking a big chunk of that company."

It looks like we are getting some cross wind buying just based on Drachs' reputation.

Hi Trek

Thanks for that. It never occurred to me to look at box 1b, given Drachs are registered in Jersey. I'm used to dealing with HM Land registry and their overseas entity guide which has Jersey entities as corporations outside of the UK. I now know it's to do with AIM rules 17 as opposed to the DTR 5 guidance.

Thanks CFC. I missed that. What was interesting their first TR1, part 3 - notification, was in Drachs' name , but part 4 wasn't left blank and they named Helga Evans as the full shareholder. All Drachs' TR1s start at 5% as Jersey based (non UK).

Drachs Investment limited bought into MTL 20th June 2024. MTL had increased 17% in the prior 10 days before the announcement. I think we had similar.

Less than a year later MTL was up over 100%.

We will do far better than that and in a quicker time frame given we are less than 18 months old and have plenty of identifiable growth opportunities in the near term. MTL had already been incorporated 20 years when Drachs got involved & it still managed to be part of its substantial share price growth. This proves that they can spot investment opportunities irrespective of where a company is in its cycle. There is no doubt they will have followers who just invest in whatever they do.

What type of entity is Drachs Investments No3 Limited?

Drachs Investments No3 Limited is a private investment vehicle, typically structured to take strategic positions in high-growth or high-upside companies. Such entities often manage capital on behalf of private investors or institutional partners and focus on early-stage or undervalued assets, especially in sectors like natural resources.

Why would they invest in Helix Exploration?

Helix Exploration is positioned as a high-potential company in the helium and natural hydrogen sector, with near-term production plans and substantial reserves [3]. The acquisition of a 10% stake suggests Drachs sees significant upside in Helix’s resource base and upcoming developments such as the Ingomar Dome. The timing likely aligns with Helix’s move from exploration to production, making this a value-accretive moment to invest.

What are their likely plans?

Drachs may aim to:

Support Helix’s growth through financial backing or board involvement.

Gain exposure to the energy transition market via strategic helium and hydrogen assets.

Profit from future share price appreciation or a potential takeover scenario.

Influence operational or financial strategy, depending on their level of engagement.

Thanks ihavenoclue for getting me straight

I was fully expecting a TR1 this morning. As admission is today (of the new shares) technically they have until the 12th June I believe (within two days of threshold being crossed). However not sure why you would wait.

It's possible a 5% threshold has not been breached (meaning less than £1.5m was invested based on the share capital by one entity again assuming they are overseas) or it could have been structured in a way to hide it. However the rules are direct and indirect holdings so there would be some work to do to ensure they were not in breach. Maybe we get one later??

I actually think tomorrow we get the TR1 and it's going to be a big deal once they are researched i.e I'm sure they will be US based and want to be visible. As others have said I don't think it's a coincident that setting up the OTCQB (which takes 4-6 weeks) likley happened at the same time the family office & other institutions were courted.

I think someone like Alan Gaines of ALG Corp/ General Helium Inc. and with a family office could be one of the investors but not enough for a TR1. He and Bo always seem to be at the same events, and commenting & liking each other posts. Now quoting his CV "he was Chief Strategic Advisor to financier Carl C. Icahn as has led or participated in 200+ transactions during his career, raising capital far greater than $100 billion". He's involved in hydrogen too. His company General Helium Inc have 3 Joint ventures on the go.

The key thing is whoever the Keystone investor is they won't be selling and I think it will be strategic enough to stop us getting sold too cheaply , and / or helping finance the liquefaction plant. Debt is not a bad thing if on the right terms and I think profits can be retained for other means.

Figes,

I'm the same, just turning a profit now. When Stanvic bought in that's when I knew you could fill your boots. The M23 rebel issue put a slight bump in the road but I think it was needed to the extent the solution now seems more permanent than it's ever been. This has been further re-inforced by Abu Dhabi's International Resources Holding agreed to acquire a majority stake in Alphamin Resources Corp next door for $366m. Without a doubt that was acquired with us in mind given the life-time of their mines runs to 2032 or something.

The Dec 24 Stanvic Mining SARL strategic investment ensures we won't be taken out cheaply. I see a minimum of 4 bagging and up to 20 bagging within the year. Every assay from now will just add to the share price.

BrentW1- I know it's not clear lol,

Norfolkslim - pre-tax revenue and pre-tax cashflow are different. For starters royalties would not be deducted from pre-tax revenue but would be from pre-tax cashflow. I think some royalties run at 20% (I can be corrected on this).

Oldpache - I obviously wasn't very clear. I know the figures they are producing are averages as no two wells will be alike, but that average figure needs to be defined and it's material. So I wanted to know whether I'm doing valuations on $4m per well gross or net - in the most simplistic terms. Then I'm able to do my own valuations from NPV basis.