Member Info for Blubay

Never tell anyone what to do with their money (buy, sell, hold). Never trust anyone who tells you what to do with your money. Just don’t do it. DYOR.

There should be an RNS following the 18 October regulatory board meeting to consider the next drill permits for Galactica-Pegasus project. Conclusion of the acquisition at the end of October is contingent on those approvals (and any other DD). Should be fine as it’s already a producing field with existing wells in the licences areas.

You’re still refusing to answer the basic question of why you think the company is going bust?

Yes, thought had also occurred to me. Not to wish anyone ill but I don’t doubt the ability of the HE1 board to be ruthless if it benefits the company.

If it’s good for traders why are you complaining?

Who are you hearing this inside information from?

Think she’ll be focused on the US in the short term. The trip there for the Houston Summit this month is supposed to coincide with finalising the acquisition deal for Colorado. Networking with all the US industry stakeholders will be important, and possibly exploring options in the US capital markets. With a US project, I’d hope they might consider a future US listing too

It’s an interesting question whether HE1 might have pivoted their business strategy by giving up their remaining prospecting licences to focus on producer projects. I did wonder if they might try to buy into NHE’s discovery, if sufficiently derisked. They might be able to offer a drill for equity or project share deal, but they’d have to raise at least some capital or debt finance I think. Not sure it’s that likely.

Come on, look at the dates of the RNS, anyone with a calendar can count how many were on which days of the week 🤣

There’s no such pattern. What RNS update are you expecting?

Herbie, maybe instead of just crying wolf every day you could explain the process by which you predict the company is going bust. What’s your rationale, if you have one? Or are you just trading on short term uncertainty?

“Question is, will someone actually buy the company before that happens to make sure they secure ALL the helium?”

The CEO/CFO were asked this in the summer Q&A. CFO seemed to acknowledge the possibility but was very clear that their intention was to remain independent as long as possible. They would also have possibility to sell the project or a share of it (to buy into other projects) without selling the company if Colorado works out. It’s a delicate balance between asset value, cash and mcap. At the moment they’re in a decent position with their own rig, cash in the bank and no debt. But they do need to generate some revenue and/or finance in the next 6-9 months (Q1 2025 will be important)

What’s your expectation Herbie? Are you just thinking the SP will fade a bit in the news gap before 18 October (distinctly possible), or you think it will drop further when the Colorado board approved the drill permits for Galsctica-Pegasus, or when the acquisition deal is concluded, or when spudding the five production wells? Why would it do that?

I think HE1 have given up their prospecting licence in Eyasi and I think absolutely no chance at all of an O&G company mining uranium

Lifestyle choice. You can use the discussion boards to discuss your investments or you can spend your days abusing people 🤷‍♀️

It’s a simple factual question. The post makes no sense at all.

This makes no sense Folio. What do you mean, 30x what?

I think that’s possible Skippy. They could easily make ML applications on basis of the more traditional Karoo trap layer reserves as a recoverable baseline, from the first EWT, and indicate the novel nature of dynamic basement system in a more contingent way. The second EWT results were right up to the wire for the application deadline, so it wouldn’t be surprising if there was more work done (although LB did suggest in interview that results were fully integrated in the modelling).

No doubt there’ll be some continued market uncertainty about the share value attributable to the Rukwa discovery as long as the reservoir estimates remain under wraps. The flow estimates from the EWT weren’t as conclusive as some anticipated but hopefully we get more clarity in research briefing, broker note, or competent person’s report. In the meantime, the Colorado project is more likely to drive short term interest.

The FS won’t be published as it’s commercially sensitive, but key information points about the reserve estimates should be advised to market at some point (possibly when they can be independently validated, although that isn’t straightforward for a unique geological system).