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Probably a 50-50 chance of RNS Tuesday or Wednesday morning but don’t expect rockets, a modicum of good news is fine.

Nothing has been delayed.

Close at placing price?

Yep, I can’t imagine there would be financing details announced any time soon. They already have financing for the next stage of ops in Colorado. I think more likely that the Rukwa project moves to the back burner while they focus on near term cash generation.

You’ll find the language is less restrained in the CEO interviews, e.g. where she talks about achieving the company’s commercial milestone etc.

No, it’s very typical of their measured and tightly controlled messaging (and reflects the very tight control exercised by their Nomad).

Don’t make financial assumptions from incomplete data.

That’s really not likely

A mining licence would permot them another 10 years to recover commercial resources, subject to further renewals

The two prospecting licences in question were purchased in 2015, extended for 3 years and then for 2 years (in 2022). That’s the maximum extension period allowed before the licences revert to the government, unless they can be converted to a mining licence. The expiry date on these licences is 17 September.

Options 2 and 3 are imaginaries. Option 1 is expected. Hopefully there will be some details from the modelling.

Zoffy Friday lunchtime

“… last chance to get out!”

Zoffy Monday lunchtime

“Topped up this morning so hoping for a nice pumpus”

The ML portal is very slow to update so I wouldn’t bank on that for any info. There won’t be an RNS before submission, so I think we can assume a market confirmation either Tuesday or Wednesday morning.

Unfortunately it’s not that simple in the absence of further information, which everyone is looking forward to. Most posters here will just talk up their own book but none are privy to the details of the modelling. Certainly the company will apply for the mining licence in the belief their feasibility case is persuasive. If the licences were no longer commercially valuable they would simply hand them back at expiration date, rather than spend the money, as they have done with other redundant licence areas. Obviously there’s commercial potential. The question is more about the scope, cost and timeframe of that commerciality for a company like HE1, and the likely cost benefits of pursuing the project in the short or long term.

Bobbi yesterday 5pm

“ When will they raise again Wednesday I think”

Bobbi today

“Bought in… now assured of making money“

“I TRUST HEX”

I’m sure everyone on this board trusts David Minchin to deliver for HEX and wishes them well in that 🤔

Holding risky shares is always risky by definition, dilution being one risk, uncertainty being the other. As long as you’re comfortable with your risk and timescale go for it. I’m happy with the risk of holding HE1 around the current price but it’s a fraction of my portfolio. It’s been more of a trader’s share recently. Each to their own.

You mean HEX? Sure, they might manage something too in the end but they’re at an earlier stage of risk compared to HE1 and with an unstable well drill (not the first time for DM). HE1 already has a proven well in an established US gas producing field and they already have the capital to develop it, so they’re at least two steps ahead there. Then there is the Rukwa project, which is one step back from there (but one step ahead of HEX).

Of course there’s risk. It’s a small cap early stage exploration company on AIM with no current revenue stream. Everyone knows it doesn’t get any riskier than that. On the other hand, the current board have done a great deal to derisk to a stage beyond the risks facing their competitors. I personally think they’ll make it through early stage to become a viable producer, but I’m not expecting them to achieve that before H2 2025.

“I’d consider making losses up in the other helium hydrogen play HEX personally”

lol, that’s even more risky than here!