Member Info for Blubay

Sitting at key price level now, from November spike, breakout possible if so 🤞

Some of the spread betters and CFDs will need to close to avoid margin calls. Some of the volume will reflect those rapid changes in position. Spreadbet used to have a TR-1 here, not sure of current holding.

Buys that size would almost always be worked as smaller blocks over a session or a day, which is why you often see a string of similar size blocks.

“why waste the money ?”

Because it’s a legal obligation to inform their London market as soon as possible (after BNL informed the ASX)

Yeah, but that’s the exception

That’s the firm of words they usually use in RNS template

Nah, the news will come from BNL in Australia who are ahead of us and today’s RNS text will have to be signed off by HE1’s Nomad in London yesterday, who is also the joint share broker, and MM. It’s the same with every leaky HE1 RNS, always a trading day ahead.

Rukwa remains the flagship project but my wild guess is that HE1’s net share of annual helium revenue (after opex, equity splits and loan payments) might end up roughly similar to their eventual net share from an enlarged Galactica-Pegasus (but longer lasting and not including any share of hydrogen or CO2 revenues from the two projects). The helium reserves at Rukwa may be theoretically larger but also more costly to extract. Hopefully they’ll succeed in capitalising on both and acquire more projects globally too. Long way to go yet but all very hopeful as we finally enter into the production phase. Exciting times.

Plenty of news train to kick off now, spud day, completion of drilling, well test results, move on to Jackson-4, commissioning the processing plant…

That’s false and misleading information intended you mislead investors, which is a firm of market abuse

The late report was just a correction, ordinary trad printed earlier as OTC

The UT was printed at 16:35, but it’s same price as the later delayed reported trade

2025-02-11T16:35:15Z GBp 1.01 454000 4,585.4 UT

Open / Close 0.86 / 1.01

Bid / Offer 1.01 / 1.05

It's not simple, it's plain wrong and misleading!

My guess is that HE1 will end up holding 50% of the SPV, with the government and banks or JV/farm partner owning the other half or so (like HE1 owns half of Pegasus-Galactica but does not own any of BNL).

No they won't. They will own at least 16% of the new company (SPV) set up in Tanzania to operate the project. They won't own 16% of HE1 as a parent company.

Let's see what the late reported trades have in store. I presume there's been a large order or two worked through the day.

That's not what's happened recently on this share. Prior to the company running short of cash or seeking funds then the share price has been actively shorted down in anticipation, not up, forcing the Board to announce their raise at a lower price than hoped for. It's a difficult situation when a small cap company is held over a barrel by its brokers and bankers, but that's just AIM for you.

This refers to the November issue of TMIC magazine, which is a free edition. It included a feature section titled "Helium Becomes Key Player in Tanzania’s Mining Industry" (chapter 19), which referred directly to HE1 (and others).