Member Info for Blubay

Dumb money isn’t paying any bills. No money ever goes to the company from second hand share trading, only capital from new share issues pays any bills.

It's trading less than half the recent daily volume, no chance of fireworks at this level with billions of shares floating around. The outlier MMs go to more extreme spreads when they aren't interested, leaving the ones in the middle to soak up what trade there is.

"In the meantime hopefully no more major flooding like this report"

The lake is getting very close to Noble's base camp

"i'm still in contemplation mode"

No change there then ;-) There should be plenty of time to get in here as the oil and news starts to flow. The board's long term development strategy was always the more interesting investment proposition, but contingent on getting some cash flow from this starter venture to make any kind of start on that.

Including the quuotes...

"...the Minister highlighted the need for substantial investments in strategic and rare minerals, such as graphite, coal, helium, and metal ores. These are crucial for technological advancements and are pivotal in positioning Tanzania as a leader in the mining sector across Africa."

"Supporting Small-Scale Miners: The Minister detailed plans under the Mining Vision 2030, themed “Minerals are Life and Wealth,” focusing on empowering small-scale miners. This initiative includes identifying mineral-rich areas, providing necessary licenses, and implementing the Sustainable Productive Mining Program (MBT), which is particularly aimed at empowering women and youth in mining with the right tools and resources."

"Does the current board have the necessary skills to ensure that the potential of the company is fulfilled?"

Assuming you've read the CVs of the current board members, yes.

HELIUM ONE: STRATEGIC RESOURCE FOR AFRICA IN AN EXPANDING MARKET

Thursday, May 16, 2024 9:20 AM to 9:40 AM

SHOWCASE THEATRE

Lorna Blaisse · Helium One

"Do the board actually have a long term plan..."

They have had a long term strategy for some time, aiming to be in commercial production of helium at some point in 2025. The actual plan is contingent on the detailed testing, modelling and design options/costings that they are working on now. There's no way a major JV partner is going to come in before that work is completed and there is a clear understanding of costs and risks (but we're led to believe they have had some preliminary conversations along the way). The price of success or failure is the ability to raise enough capital to make those plans a reality. AIM companies without revenue income are wholly dependent on capital fundraising to get them over the line to commercial viability, many fail. It's the same with every AIM company, otherwise they wouldn't be listed on AIM (the whole point of AIM is to provide a less regulated public listing for high risk small cap companies that can't raise capital by other means). The companies that do make money on AIM are the investment banks, brokers and market makers for whom the fundraises offer lower risk via discounted placements etc. That's just how it is, which is why no-one bets more than they can afford to lose on AIM shares.

We already have independently verified results from the well drill, they were done onsite by a third party with industry standard lab faculties. The EWT and modelling will flesh out those results and add to them, in the second half of the year.

AIM stocks are inherently risky. Holding AIM shares on your books is inherently risky. MMs manage that risk and make their money from the spread between bid/offer (although other sections of the same companies also make money from managing IPOs and fund raises for AIM companies as brokers and NOMADs - e.g. Liberum acts as MM, broker and NOMAD for HE1). Those companies have had a very lean time of it since the Covid pandemic, due to the reduced number of IPOs from which to profit (e.g. Liberum had their first trading loss in history), so frankly they are all squeezing their remaining AIM client companies as much as they can the past year or so.

What evidence is there of that?

"It's like saying they found helium on the moon"

Only the moon is maybe a wee bit further from the TANZAM highway that goes straight to the gas export terminal at Dar Es Salaam?

"Not just Minchin who left "

That's right, the company was quickly restructured in early 2023 (after the 'discovery' at Tai in 2021-22). The company's approach was changed from expertise in mining to expertise in O&G. The original team was replaced, with new directors who were previously in senior positions at Orca Energy (which operates Tanzania's offshore gas fields).

East Africa would be significant for the helium industry due to shipping East from Dar Es Salaam. The real game changer is that it’s a pure helium play rather than byproduct from hydrocarbons.

A million shares isn't going to affect the price is it, not with billions of shares in issue. Volume is below recent average today

Basically, someone Tweeted the 'Discovery' word, causing market jump and then quickly deleted it.

No problem, hard not to be sceptical on this board! Just for info, he didn't leave "to join a another Helium explorer start up in Montana". He was unemployed, the did some advisory for Mossman (god help him) on their helium play in Australia, then landed the exploration role with HEX. Hopefully he does well there.

But in answer to your crude attempt at posting FUD... no, don't think so. I think HE1 remains probably the closest prospect to major commercial returns on pure helium discovery anywhere in the world, and I'm sure DM is knows that (as he knew they were onto a major discovery back in 2021, hence the frustration at not being able to prove it at the time).

Then again, there may also have been an element of issue with the board/SC, and the subsequent change of control/coup to bring in the ex-Orca crew and LB's appointment, shifting the company from a mining approach to an O&G approach. Just speculation...

I think he was pretty much forced to resign after by allowing an unproven claim of 'discovery' to be announced (and retracted) without first informing the market or/and the company's NOMAD.