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And do you think HE1 has a closer relationship with the TZ government than all the other companies applying for licences, some of which are vastly more powerful than a small foreign startup company like HE1?

What do you base your opinion on? The CEO estimated approximately three months, which as far as we know is the norm. What additional information do you have that the company doesn’t have?

Honestly, don’t bet your pension savings on high risk AIM penny shares, or at least only as a small percentage you can afford to lose.

It’s not likely the licence will be the next announcement. There’s more likely to be a stream of news about the Colorado project before then. There should be drilling permits approval, confirmation of the project acquisition, and first spud dates, hopefully all coming before Christmas

“ I think we will see the ML approved before the Conference at the end of Oct.”

The US conference has no relevance to the licence process and the timescale is unlikely. More important I think is that the Colorado drilling permits are approved so that HE1 can announce conclusion of the Colorado project acquisition.

No need to troll him, he's only quoting the definition of what a viable business means, not dissing the company's potential to become one. Basic stuff. Like most AIM exploration companies HE1 is a startup without any revenue, which means it's entirely reliant on investors until that changes. The big plus is that there's now a timeline for initial revenues from Colorado in the first half of next year. And there's a prospect of further revenue from Rukwa sometime thereafter. That's contingent on completing some production wells, getting a mining licence, finding out more about the feasibility study, securing a finance deal, and then drilling some more holes. It's not a viable business yet but at some point it will hopefully become one. The balance of risk-reward between now and then is precisely what we're all investing in isn't it? At least that's why I invested.

Try not to worry about it Richar, it's just the way these boards are and the more popular the share the worse they get. It's just part of the trolling tactic to disrupt or displace any kind of critical discussion, so whichever up/down narrative can bully new readers or potential buyers/sellers.

If you can't get a quote change your broker, there's 5.9 billion shares, there is no shortage of them on the market, it's a problem with HL

Does anyone still fall for that nonsense?

I think it’s more likely the direct investment comes from one of the major gas off takers and then they sell it into Chinese and East Asia markets from the new DeS terminal (unless the TZ government decide they want control of the helium processing infrastructure and get China to fund that in return for resource guarantees).

*Rukwa

Recently announced was Chinese investment to upgrade the railway line that runs from the Zambian copper belt via southern TZ to the port at DeS. That will open up new development options in southern Fikwa, with faster logistical options for off takers to freight tankers out of Mbeya (130km from Tai/Itumbula)

Same procedure for issuance of ML or SML. The difference is the scale of investment (under or over $100m) and the length of licensing period (10 years or estimated lifetime of the resource, as per FS).

Half this BB is written by Chat GPT these days 🤣

I thought the same but it has got me thinking again. The original development concept was for 6 development wells, gathering and a modular production plant, estimated around $85m capex plus $1m opex pa (I.e. $95m over 10 years ML, and conveniently just under $100m investment which is the max cut off for ML applications). Now it’s 20-30 wells, but using our own rig. Will be interesting to see anyway.

You might be right though…

“Special Mining Licences (SMLs) are granted under Division B for large-scale mining operations, in which the capital of investment is not less than US$100,000,000 or its equivalent in Tanzanian shillings.”

Interesting question Roger. I’m not sure if it would fall in the category (it’s not open cast mining or hydrocarbon scale refunery). The well heads will be low impact although there’s the gathering pipelines and agree it’s a lot larger project that they were originally planning. CEO has definitely kept on using the ML language and referred to the average three month expected timeframe, so I’m still assuming it’s an ML application.

From the 10 April RNS

“The ESIA is part of the feasibility study which is central to the licence conversion process that is required by the Mining Commission in Tanzania. As the ESIA is expected to take approximately six months to complete, the Company has commenced the work now so that the results can align with the EWT and, upon completion of both, will then allow the Company to complete the feasibility study ahead of submitting the ML conversion application.

The Company has appointed MTL Consulting Ltd ("MTL"), a Tanzanian company, for the ESIA and will continue to work with them to compile and deliver a detailed report to the National Environmental Management Council within the necessary timeframe.”

The six month ESIA is a requirement of the application process. HE1 were neither early nor late in doing it. They are neither ahead nor behind the game. They submitted a normal application in a normal timeframe. As the CEO said clearly in her interview, they have no reason to expect other than a normal average time response. They assume it will be around three months. It might be earlier or later. We don’t know.

2024-09-26T16:35:21+01:00 GBp 1.19 552288 6,572.23 UT AIMX