Member Info for Blubay

Yes it's a capital raising announcement, we await the details to know how that may impact confidence in a near term commercial return from the project to HE1.

Unless there's further delay there will be funding news today or tonight (Australian Thursday morning) - "...the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 5 September 2024 or when the announcement is released to the market."

Yes, would need to see a business development plan or prospectus based on the shortly forthcoming feasibility study, ideally with some financial staging along the lines of the Colorado project. The challenge in Rukwa is the lack of any existing helium processing infrastructure to tie in, which is the obvious bonus in Colorado. Balanced against that, the helium contraction is much higher at Rukwa. We know the original development plan was to support six initial wells using a modular plant (same number as Colorado). We’ll have to see if that’s still the option economically.

“Helium One Global (AIM: HE1), the primary helium explorer in Tanzania, is pleased to confirm a helium discovery…”

“… this becomes a globally significant helium project.”

“…demonstrates positive economics with artificial lift, and what is anticipated to be in the region of twenty to thirty development wells in the production phase. ”

“make sure no more placings are offered.”

Are you mad? How are they supposed to develop an early stage company without fund raising?

The share is being aggressively shorted on news in an organised way, that was always likely. The hoards of new posters spamming the board is fairly obvious to see, just as it was with the preceding rampers.

I think the strategy is abundantly clear from the company website byeline…

“Helium One was formed to explore, develop, and ultimately, become a producer of low-carbon helium”

“Thought ewt would estimate bfc number”

No, that’s not part of the EWT. The flow results will be incorporated into the revised model of the overall reserve assets and the feasibility study. You’ll see all that with the mining licence application.

The level of comprehension on this board is pitiful. The point of the Itumbula well test is to derisk the entire Rukwa field as a globally significant helium producing area for commercial development (to which HE1 holds most of the licences). No-one is expecting one well in rural Tanzania to be ‘commercial’ on its own. The value of the project as a whole is increased by reaching this stage, assuming they get approval for a mining licence.

The project in Colorado is at a similar stage, one step ahead, with funding for the first stage of well development. So HE1 now own 50% of that project and 100% of the Rukwa project, both with commercial development opportunities.

If you were running a foreign business in rural Tanzania you would quickly understand how and why this works. But to stick to the railway story, this is great news for opening the resource infrastructure of the more remote areas distant from DES

What has that to do with the railway?

Big upgrade news for transport logistics in Southern Tanzania

https://www.voanews.com/amp/china-tanzania-zambia-sign-initial-agreement-on-key-railway-project/7770734.html

@1.34p late reported

10 million shares @ 136.5 👀

They have agreed to pay an amount of cash to legally acquire...

50% beneficial interest in the Galactica-Pegasus project (operated by Blue Star)

50% interest in leases on 61,000 acres helium rich territory in southern Colorado

first right of refusal to all the other prospects of BS if they come up for sale

(subject to certain conditions and regulatory approvals being met before the deal is closed)

Yes, that's why I mentioned the period since June as it makes more sense to look at that phase from the placing to fund the EWT phase, following the discovery of potentially commercial gas shows.

SP is up 4.5x since the beginning of the year, and 100% since June. Apart from the obvious couple of bumps to trade placings the underlying rise has been pretty steady going since June in anticipation of moving from the exploration phase to the long awaited development phase. Next chapter not far away now.

There won't be an intraday RNS. You'll easily spot the trading leak when one is due.

“How does an independent entity like Sproule assign a resource or reserves figure to a "unique" system?”

I presume the complex modelling will be disaggregated to cover that contingency, following the separation of the two EWTs and the option to divert them via the Christmas tree. I imagine there will be a modelling of the Karoo layer trapped reservoir (which would be conservative but more standardised) and a modelling of the generative/migratory fluid system at basement. Each can then be assigned different risk factors within a combined estimate. As you say, the industry can take a view on whether to value part or whole.

And right on cue, no RNS and the shorting herd arrive 🤣