Member Info for Blubay

Day sellers in now.

Finance relates to (a) keeping the company lights on and paying salaries beyond the first half of this year, (b) funding the next stage of development for this asset, or further exploration. They will be looking for an amount roughly equivalent to or more than current mcap (either by loan secured on the asset, or a joint venture with a big player, or a share issue, or a takeover, or a combination). If this is confirmed as a discovery of global significance they won't have any trouble raising it.

Nonsense, buying below that price

You can easily buy at 2.86

"I'm wondering why it hasn't gone higher"

Because it's already up over 1,000% with billions of shares in diluted liquidity, give it time

Correct, peak share price was when there was about 616m shares in issue. You need to look at market cap, which went to £178m at peak (without a proven discovery or drill rig ownership)

You can buy around 2.82

"Keep it accurate!"

The voice of reason, there's a rarity on here since the forum was stampeded

Why do you think that? Are you short or long? What's your target price?

Noble's Rukwa licenses should be significantly de-risked if HE1 gets a proven reserve. They were chasing a similar kind of fault play, so the new geological information from HE1 may help them to target better (if they can raise enough money to keep drilling and if they can find an affordable rig).

It's very simple, there are no 'buys' and 'sells', only trades that each have a buyer and seller (every trade is a buy and a sell). Websites like LSE just add proxy labels to the list of trades based on whether the trade was above or below the mid price at the timestamp (but different MMs have slightly different prices so a 'sell' could be above the assumed mid price and a 'buy' below). It's just a rough approximation based on informed guesswork. The overall pattern should be a about right.

"Highest Mcap was £172.2m"

Slightly short of £180m (I think £178m)

The 29p peak in 2021 was on basis of an announced 'discovery' that turned out to be commercially unproven. That would be roughly equivalent mcap to 5p now. Similar stage of optimism now but this time they have a step further with a measurement of free gas flow to surface, which couldn't be achieved in 2021.

It both a blessing and a curse. They will have to design a different purification process/plant from the one they had pencilled for the commercialisation. Potentially even greater return but at potentially greater cost. The geothermal is also a significant side game in scoping it out. It will be a tough call about how far to progress the operation versus if/when to sell it. I suspect they would like to get the other planned wells done (6 suggested) and keep the feeder network under their licences for now. But really depends what kind of bidding war sets in between larger European and Chinese players, and what the Tanzanian Government will licence them do (and their hand may be also influenced by the big players).

2.74 to buy, early traders mostly out at 2.6, hopefully a slower but steady build this afternoon. Late reported trades will be interesting to see

Noble doesn't have commercial helium either

There are four or five players

“Note that the company has not called a discovery yet”

Under O&G protocols there are strict rules about when you can use that word (you may remember the previous CEO has to resign over that mistake). They need independent verification.

Currently 2.7 for a live quote

This is where the board members’ expertise will come in. The restructured board opted for a strong emphasis on commercialisation and finance experience, notably in East Africa. The company was also strategically rebranded from an explorer to a future producer of helium. They also registered the new East Africa Holdings company. They were already also talks with potential JV partners, but they’ll be weighing up all options for debt, JV, equity or sale etc. The government will also have a part in this. Nice to have choices after being royally shafted by the banks and brokers previously.

“what happened to the rockhopper style rise?”

The SP is up more than 900% in the past week or so. What were you expecting?