Member Info for Blubay

I think he said how much he invested at the time, around half your estimate, price has dropped around 50% since CLN agreement

Looks like there might be some plant arrived on the processing site, hard to say from such blurred imagery but some new blocks appeared

https://ibb.co/RpZZbR62

which the urban colour filter seems to think is structure

https://ibb.co/wNCJsHGB

Sorry for your losses. The large majority of AIM shares (more than 70%) lose value over time, many lose 90% value or more. The function of AIM is largely to stimulate small cap growth in risky ventures by taking money from hopeful punters and recycling it into profit for the funds, banks, brokers and market makers who specialise in short term capital risk events on those ventures. That's just how it works. Hold AIM shares passively for long term gains is usually the least profitable strategy on AIM unfortunately when compared to blue chip investments. But each event cycle presents opportunities.

Here's an arial view, where you can just see faint lines for the trenching running parallel to the J31 service road and branching off (processing plant site is bottom left)

https://ibb.co/d0Kv2xZd

From the new excavation lines appearing on the ground, it looks like BNL are making progress with gathering lines from J31 back to the processing plant and junctioning out towards J29

"However, these new rules still do not apply to directors of companies incorporated offshore, even if they are listed in the UK."

It's not the UK listing that invokes the obligation but whether the company has a UK establishment (which HE1 does)

https://find-and-update.company-information.service.gov.uk/company/FC038827/ukestablishments

PS. Just to back track a bit, Helium One Global Ltd (registered in BVI) does have a UK establishment 'Helium One Global Ltd' (registered in London), so they are supposed to maintain a record of beneficial owners and officers at Companies House, I think?

For goodness sake Offler, it literally says on the form

"What this form is for: You may use this form to appoint a person authorised to represent the company in respect of the UK establishment.

What this form is NOT for: You cannot use the form to make any other appointment."

Dighe is a NED in a BVI company, he is not authorised to represent the company in respect of the UK establishment.

Dighe has been personally registered with Companies House as a director of four other companies, but as MC says it's not an obligation on HE1 to register his directorship there although they might choose to do so when they tidy up for the AGM. They already notified the market and confirmed the appointment in two separate RNS, on time, which fulfills the reporting obligation.

There has never been any suggestion of Galactica funding Rukwa capex, nor could that kind of money be raised through share equity. Rukwa depends on securing project finance (in stages) or on selling/leasing the asset to someone with deep and long term pockets. Galactica should help to cover working capital though, which would be a major plus for the company’s sustainability. With luck it might also fund some of the infill wells to increase production and further revenue. One step at a time though.

Nice to see the new production facility pad taking shape on the ground today, and proximity to Jackson 31

https://ibb.co/WNQph33Y

If they do invest in the early stage production concept as outlined in the CPR then the flipside is maybe more likely, that some geothermal capacity becomes available as a byproduct of the helium extraction (either small scale power generation or heating local greenhouse agriculture schemes using heat exchanged from the warm water outflow on the way to the proposed irrigation projects)

"Tanzania needs cheep electricity to liquify the gas."

If they follow the Chinese prototype model then they might target local hydrothermal power generation using the targeted basement fracture wells with helium as a commercial byproduct (that's a maybe)

On a grander scale there is the planned hydro plant on the Songwe river

https://en.wikipedia.org/wiki/Songwe_Hydroelectric_Power_Station

And there's the Chinese funded major power grid transport line (TAZA) connecting into Rukwa from Zambia

2.4bn volume traded since 13 October RNS, allowing for at least half the conversion being forward sold before that date, we should be getting close now to turning over the remainder this week for the month end. Hopefully signalled by an imminent commencement of the operational news flow. All eyes on next week?

Let me try again. Perplexity provides sources for its reasoning based on web searches. What are the sources supporting a ‘consensus’ mcap in excess of $15bn when the consensus production rate appears to be in the region of $1m per well per year (gross)? That valuation would represent 1,500 well/years before even considering the costs of extraction and processing. Even at 150 wells (beyond plan) that’s 100 years of production, with no account of costs. How does Perplexity justify its estimation?

They gave up the exploration licences for the other areas as non commercial prospects.

What are the ‘professional sources’ cited for these ‘consensus models’? You’re suggesting a company valuation of £11bn to £14bn!

"If both Galactica (US) and Rukwa (Tanzania) deliver their expected positive upside, the maximum plausible share price for Helium One Global in 2030 is in the range of £1.20–£1.50 per share.”

Because it’s not ‘info’. It’s raw output from an inferential large language model. I completely agree that it’s all down to the prompt engineering. Analysis is only as good as the input data. So maybe direct it to focus first on the independent CPR and company RNS. Then tell it to ignore posts on LSE, which tend to be the most cited source in AI summaries of company info.

Why on earth are you using AI garbage when the company spent good money on a detailed and independent competent person’s report that you can read on the company website?

Nice and steady build for now, broker doing a better job of maintaining an orderly exit now the pressure’s off. With luck that’ll be done next week and we’ll see where the new market reality settles and hopefully news then follows very soon after.