Member Info for Blubay

Both Rukwa and Eyasi were licensed for prospecting, Southern Rukwa remains pending the application to convert the prospecting licence to a mining licence. I wouldn’t read more into it yet. They’ve just left the wording to accommodate that.

Note that the standard wording means an announcement by the company (not an acquisition by the company), so the acquisition can be either by or of (almost certainly the latter).

That’s ridiculous Toffers, the letter is the statutory notice given by the company to the exchange.

Owner - see page 2 of the BNL ASX announcement for the detail

Also promoting the rig availability for contracting

Finally they gave updated the company website. Details of projects and licences are now up to date. Things are moving.

"any positive update on the southern Rukwa Helium Project regarding reservoir volumes or timescales will have a very positive impact on the current SP"

And therefore couldn't really be revealed in a public webinar with the Nomad and lawyers present before advising the market?

MF doesn’t publish investment advice Eemex, that’s why their content is always so equivocal

I think the RNS was very clear

“Site works for the Stage 1 development drilling have been delayed by adverse weather conditions, with the ground currently water saturated and not suitable for construction. Blue Star is monitoring snow melt and ground saturation conditions closely with its landowner and construction partners. All services stand ready to mobilise as soon as conditions permit. Without further snow or precipitation, construction could start prior to year-end.”

That’s not how AIM works unfortunately

Hexxyman - I'm invested and I'd like the share price to go up but nothing anyone says here has any effect on the price. It's just a chat forum. With all due respect, investing your 'last available money' on an AIM exploration company to make back losses from another AIM exploration company is a risky bet. HE1 has good long term prospects and it's much closer to revenue than HEX but it's still in the same class of high risk investments. These companies are something to put your spare money into without fear of losing, not your last available money. Just my opinion of course. Good luck.

I think that's right. The ML on it's own is unlikely to move the SP by multiples, although hopefully it gives a welcome boost. More significant would be some estimates of the recoverable resources, development timescales and anticipated ROI (even just the bare bones like we had for the Colorado project prior to acquisition, but ideally an independent CPR). The really big deal would be any news about project financing, but I wouldn't expect that until later. At the moment the market lacks clarity about what 'positive economics for the company' means, it could be break even or multi millions.

The problem is not coolness but warmness. Southern Colorado had the biggest early snowstorm in decades last month and the problem is due to the snow melt creating waterlogged conditions that make it impossible to construct the drill pads this side of Christmas as planned.

I’d guess the reverse, down a bit today and then up a bit after the AGM

With respect, that seems a bit naive. We’re a month or two behind schedule on a 6-9 month project that is both time and cost critical to the company, and no project news expected for a month when we were anticipating a string of drilling updates. The SP is bound to drop a little unless/until there’s other positive news to come. It is what it is. Hopefully the AGM gives reassurance on Monday.

Wrong. Colorado project is vital, without it there’s no plan for short term revenue in 2025. Rukwa is a major project, 12 months at least. They need a short term development project.

I remember being ridiculed by a certain regular poster here for asking precisely this question about the logistical consequences of the recent freak snowstorm in Colorado. Oh well.

It’s not entirely unexpected in any drilling project, and for the time of year, but still a concern. Delivery is time and budget critical on this one but it’s nothing major and hopefully resolved soon enough.

RNS here

https://www.bluestarhelium.com/wp-content/uploads/2024/12/61243425.pdf

Not disingenuous at all. I don't really understand what the problem is. Of course they agreed the issuance of new shares as part of the contract with the third party contractor, it's a perfectly normal form of supplier arrangement in the industry and the supplier has done well out of it because the share price increased between the date of contract and the date of share listing today. I don't have an 'agenda', I simply disagree with your theory that the contractor had a choice after the fact.