Member Info for Blubay

Slow down, you’re talking at cross purposes and working from different assumptions - gross or net, revenue or corporate running costs?

Snorlax - acknowledging that you're short on this share, which is your choice, what's the scenario in which you believe the SP is about to halve? We know they have a decent cash runway (as well as operational cash) and there isn't going to be a placing in the next few months, so what's your assumption? Do you believe the ML will be rejected, or you think the Colorado project won't progress, or something else? What's the price drop catalyst that you're waiting all this time for?

As you say, posters like Sharebel are well known across the forums as aggressive shorts. It comes with the territory. Whenever there's an AIM placing the leveraged shorts, spread betters and CFDs usually appear. Conversely, you have to also watch out for the pump and dump posters who will try to aggressively drive up a price to offload placing shares. Unfortunately it takes all sorts and important not to make any investment decisions based on these discussion boards.

AIM shares split down the middle really, about half of them do dip towards placing price, and a larger discount tends to result in a more significant dip, but market confidence and positive sentiment is a big factor in moderating that. I'd be optimistic but shouldn't be dismissed simply as trolling. It's pretty normal.

Rule 101 for posting on forums - never tell anyone what to do with their money, and never trust anyone who does. DYOR and make your own decisions.

A little positive news starting to spread about this share now... more trades today than in weeks, small steps anyway

Juno - "Sorry i plagiarised the text and didn’t notice"

What? Are you sitting there copy and pasting boiler room script messages to ramp HEX against HE1? Seriously, give up the job

Juno - 9:49am "I am a holder of more shares than I have the guts to admit (yep… it’s that bad)"

Juno - 10:33am "I’m all out in HE1 I invested it all in HEX"

Largest sell during that time window = £142.74, hahahaha

It really depends if there are potential investor partners in advance. Once the ML is awarded and the SPV is established (in partnership with the government) it must, under TZ law, give the TZ banks first option on any debt finance, and the government has to agree on the terms.

Yes, I wouldn't be surprised if they farmed out say 50% of the project ownership to a financer or banking consortium, while continuing to act as the operator, in a similar way that HE1 farmed in to BNL's project in Colorado.

Juno, you've been talking down the future value of your enormous share holding at every opportunity without selling any, so presumably you do believe it's going to increase in value?

Also any equity share financing the Rukwa project development would likely be equity in the SPV company, not shares in HE1 parent company, in order to ring fence global activity from the project venture.

I think this was answered fairly categorically at the AGM. No raise planned and categorically no raise in Q1. As the Board have no authority to issue new shares at the moment they would have to consult shareholders for authority first, and presumably they are waiting for the SP to rise on breakthrough commercial news before attempting to capitalise on that. The challenge is of delay versus cash burn, as it always is in drilling/exploration operations (including the counterparty risk of not being the operator in Colorado). We know they are cost cutting wherever possible on running costs to extend working capital (losing a NED, relinquishing less promising prospecting licences, consolidating offices in BVI, etc). I would have thought they're fine to at least end H1 (financial year end). Q2 might be a period to consider next raise but really depends what happens with the Rukwa project I guess.

Price has been surprisingly stabilised around 0.9p support the past few weeks

All five wells have been permitted for the same 2500ft (750m) TD.

I don't know. State-16 entered the Lyons formation at 1,111.5 feet (just under 340m) and TD at the bottom of the upper sands (1,211 feet = 370m). BNL have four discovery wells in Galactica-Pegasus, and there's also the neighbouring Red Rocks wells that are flowing helium. I assume they're drilling deeper for development in hope of accessing greater helium concentrations, porosity, recovery rates etc based on the exploration data.

"The State 16 well took 14 days to drill and 18 days before results were published."

These aren't exploration wells. The drill design is very straight forward, shallow, vertical, only 750m with most of the lower sections un-cased. Shouldn't take anything like 14 days to reach TD, once they get going.

Also explains the equipment movement on the satellite imagery. On the plus side, still planning for first revenue in H1.

Looks like the spud is delayed, which explains lack of news

https://announcements.asx.com.au/asxpdf/20250129/pdf/06dxswfzvlr9q2.pdf

Wednesday is not HE1’s “favourite day” for an RNS, as anyone can see from the news calendar