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We’ll see. It’s a turning point. Great news, be happy.

Established field geology, five straight drills on accessible land with a water rig, no side tracks. Sounds like a much safer bet than exploration wells in rural Tanzania.

First well already completed and waiting tie in

We’ve waited three years for HE1 to make it from an early stage helium explorer to a commercial helium producer. They landed their first production project with projected revenues inside six months, fully funded, with no debt. We ought to be very excited about that.

Forget the ML, it’s a red herring at this stage. Colorado is the story, this is transformative for the company in the short to medium term. Rukwa is a longer term project, it’ll come in good time.

You’re not seriously short on this Joe? Madness. We’ve waited three years to escape from financial dependence on the AIM brokers by becoming a commercial producer. This is it, step one. They have a production field to develop and bring on stream within 6 months. That completely changes their financial options for capital raising through collateralised loans and/or forward sales. More than plenty to install that ESP of yours in Rukwa.

According to the development plan they are funded, as the first 6 fund the next 3, and those 9 fund the next 6. I agree that the plan needs to be well managed and come in on budget, which is a contingency. If it does then the plan is self funding.

There isn’t one Artisanal. You’re chasing paper tigers. They have now confirmed there will be a 15 well helium and CO2 production field in 2025, a fully funded commercial helium producing field which they can then use as collateral asset to raise non-dilutive debt finance for proving up the Rukwa appraisal. Do you get it now?

15 production wells in 2025 already funded, a commercial helium producing field to collateralise non-dilutive debt finance for proving up Rukwa appraisal, looks great from here ;-)

Here’s the BNL ASX, so hopefully HE1 RNS in the morning? First well ready to tie in for helium production, with permits to drill 8 more, happy days

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02881237-6A1237738

In Colorado they only had one well, now they have six in six months. What’s the problem?

Sure, I was just interested. I know more about Africa and less about Colorado. They have a nice detailed plan for each well and the existing farm tracks run very close to the pads as far as I can see.

OC 347 posts and almost of all of them arrogant abusive bullying rather than share discussion, how does that work?

Actually that was a genuine question, it was me ramping the drill permit approvals today so this was just technical curiosity. I'm assuming from the Q4-Q1 development plan there's no problem drilling five wells to schedule and budget in Las Animas ranching country.

Not to rain on anyone’s parade but anyone know how drilling operations get on up there during Q4?

https://www.thechronicle-news.com/region-is-buried-by-massive-snowstorm-2/

Hopefully an RNS tomorrow confirming drilling for Colorado, following the permit approvals today

It’s five plus the State 16 development well that’s already flow tested

Hopefully still on track - “Drilling of these initial six wells is expected to start during Q4 2024, with first helium production expected in H1 2025”. Exciting times.

Another milestone ticked off anyway. Will be interesting to see if there’s any timelines in the official announcement. Would be good to see a confirmation of planned operations still starting up this quarter.

I guess factually, the broker’s 12 month target is 3x higher than the SP is now, but whether you buy into that is subjective.