Member Info for Blubay

"I mean, after all, what type of character spends anytime on a bb that doesn’t have a vested interest in the company anyhow?"

Err, people who have short positions or spread bets on the price going down, of course.

Why would 'inside money' pump itself an instant loss?

...and the tender isn't for equipment orders, it's for the provision of onsite drilling services, so again, clearly they are planning to run the rig very soon

LOTM - "No one on here at least - knows the reason for the rise the past couple of days. Other than the company putting out tenders for drilling equipment for the rig..."

With that and the recruitment of a rig manager for a minimum 6 months contract starting April to "play a pivotal role in company and will be the primary point of contact for all rig operations" etc, you can be fairly sure the rig will be up and running something very shortly (either for the EWT or leasing out the rig to our near neighbours, or the TZ government).

Way off that stage yet. No-one is going to buy out an exploration company, or buy out the specific prospect, until the exploration company has soaked out all the risk of prospecting. If/when they have proven reserve estimates prepared to an industry standard they're on their own.

But it's equally likely they might be hiring out their rig short term to drill for Noble in the next door patch and to generate some revenue (proof of concept) for that side of the business. I doubt they're ready to commence their own EWT yet.

"EWT may start as early as May imo."

What are you basing your opinion on?

"Genuine without news is odd?"

There is news Roger, they have just launched a tender for well drilling services, things are moving

Likely there is still a week or two to stock up at a good entry point here

Funds are normally raised at a significant discount to SP, often pegged 20-30% lower than market price. If the SP holds 1p then a raise would be maybe 0.7p. The exception would be if they pull a rabbit out of the hat and surprise the market with good news and raise at a premium.

If they have any sense, and if they have any say in the matter, they'd likely opt for a positive news release (e.g. detailed analysis of existing data) to increase the share price before raising funds at a discount. But as we've seen before, they may not have that option.

Here's an older paper about geothermal helium extraction in India

https://www.geothermal-energy.org/pdf/IGAstandard/WGC/2015/39007.pdf

"Hydrogen at up to 86% purity and helium up to 17.5% air-corrected purity"

Those numbers make no sense. They add up to more than 100% without any carrier components.

More to the point, what are you doing here? 🤔

Also Mike Williams is on the books as Director of Operations. As you know, he’s a Technical Engineering and Operations Manager with loads of experience on remote drilling projects including East Africa, well engineering, drilling exploration, appraisal.

Joe “ They also don't have any drilling personnel on the books, so they're using consultants on top dollar.”

How do you know who is on the books? There is a core team still on the rig throughout hot stack. Do you think they’re on the books or ‘consultants’?

5.3p fits pretty well with the kinds of interim targets we've discussed before, approx £196m mcap

Yes, that's from today, with a 5.3p target price

https://www.proactiveinvestors.co.uk/companies/news/1043259/helium-one-has-transformational-resource-potential-with-itumbala-campaign-1043259.html

Clearly these things are the whole point of doing the more detailed reserve modelling and the EWT and engineering/procurement discussions, already announced to the market.

Should see them through the summer into the next drilling season. The main thing is it gives them a stronger hand to play in any interim business development negotiations. You really don't want to go begging with no cash.