Member Info for Blubay

Previous presentations have had too much (very interesting) geological information and not enough (very necessary) business or company information. Some kind of update on the work funded by the previous raise would be useful, was it all completed, with what results? Is all the preparatory and feasibility work on schedule and on budget for completion for submission of the mining licence application? What is the cash runway? What options are considered for income generation (what happened to hiring out the fully refurbished and crewed rig)? How does current thinking on production plant options differ from the original development concept presented to shareholders (before drilling, before finding hydrogen and thermal)? What are the latest capex estimates for that? What mix of finance options are the company exploring/considering to fund that?

Get a better broker, there are no shortage of shares

Don’t be daft. There was never any expectation of an RNS, other than gossip on this forum invented to pump up the share price for trading profit.

Toffers, there is not a cat in hell’s chance of ‘building a processing plant’ before 2025. There is a clear timeline. They can’t commercially extract gas without a mining licence. They have a process for achieving that, which includes a bit more drilling, results from an EWT, the feasibility study, and the environmental assessment etc. That’s all funded and on track for completion around October time. It would be good to have an update on those plans and on the financing options, but don’t expect to see commercial activity in this phase of development.

“the sheer amount of exceptionally high level of rampy posts has left the masses with maybe too high expectation”

That’s how pump and dump works, flood the boards with rampy nonsense about silly rumours then sell the fake disappointment

A 10:1 swap before the next raise sounds about right

Trading on AIM SETSqx ends ‘in auction’ every day

How do you know what the daily flow rate is without the results of an EWT?

Yep, the risk for new investors would be getting dumped on by short term traders selling a rumour.

So you topped up a small amount while you waited for the price to go up before buying a larger amount? Are you insane or just ramping?

There isn’t a single de-ramping post on the board this morning, it’s full of unsubstantiated ramping, what are you on about?

…the pump and dump crowd are back in town, are we expecting another run to sell on news?

Yes, to be fair that’s possible but the pound of flesh they would demand in return for shouldering the risk of uncertainty would make a deal less attractive. The main thing is to get positive EWT results from the first well validated, and to develop the field modelling. There will come a tipping point where the majors want to take a slice big we’re not there yet.

No-one is going to enter in a joint venture to commercialise helium production in Rukwa until analysis of the well appraisal proves it is commercial, and until HE1 have a mining license to extract it. None of that is likely to happen before at least October.

Nonsense

Helium is inert, it's not combustible, it's not a fuel. Helium is used to pressurise rockets for take off. Hydrogen is a fuel.

Looks like curtains for now

“Smart money will load up before well test in july”

To be fair, ‘smart money’ doesn’t invest in unproven loss-making AIM shares at all, or at least to any extent. It’s a gamble, risk-reward, and smart money doesn’t take gambles, which is why they demand such large discounts at placings 😉

Waffle "i would wait for a further slide near .5 again or even nearer to .3p"

Why on earth would you be holding £11k worth at .77p if you are already convinced that it's dropping to 0.5p or 0.3p? That would be madness.

We should also be conscious that a 5% budget contingency on any operation subject to drilling risks is bare bones if there are unexpected issues and delays (i.e. it sounds like they have less than half a million leeway). But it’s only a small drill so hopefully that’s all fine if the well integrity holds up.