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The concern is the pace of conversion and how long it will take to clear. If there’s still significant overhang when significant news comes then it will be sold into and pose a risk to rerate. I was hoping they’d clear it quicker but we’ll see.

The shareholders were given a choice about the type of funding and voted for the CLN terms. The alternative offered by the board was a cash box.

I also thought they would have churned more than £2m worth for this tranche by now, although £1-2m would be more the norm. Still, not far off half way now but a good way still to go.

No they’re either disingenuous or delusional.

Why not? There was a public tender process. They’re all competing industry service providers. The Chinese pump was hopefully up to scratch and cheap. SLB might be providing well services as they did last time.

Mark - "only due to one MM and after that were back to 0.34 on the offer"

yes, but that one is MREX and they're the one brokering distribution of hundreds of millions of CLN overhang shares, so it's not surprising. As long as they can find buyers for shares at 0.31p the CLN holders will be still making their 33% profit.

This is the regional interconnector project linking Tanzania's grid to Zambia’s grid. It's not new power generation but there are other projects generating new power in the Mbeya region, including the possibility of geothermal energy production in Songwe (using the same hot fluids from fractured basement that HE1 are targeting for helium wells). I posted this yesterday in connection with the Sinopec pilot plant design in China. Not sure how that constitutes de-ramping. It's potentially an interesting synergy if it provides a way to develop the helium extraction technology at commercial scale.

Come on, it's bonkers and you know it. The identified risk is entirely the reverse, as clearly flagged in the CPR, that over pumping or proximal spacing of wells could risk reservoir depletion over time.

And this conference coming up next year

https://wastewater.watertechsh.com/2024/09/19/chinas-award-winning-breakthroughs-in-membrane-technology-and-helium-extraction-transformations/

Industrial advances in helium recovery and purification technologies: a review

https://www.sciencedirect.com/science/article/pii/S1383586625037335

This is the system

https://en.vacree.com/intro/94.html

This is helium from hydrocarbons (natural gas) rather than from water, although it’s in the same region as the geothermal helium pilot plant. I’m not sure how this low temperature PSA + membrane tech would transfer to HE1’s context but it could be a significant development.

No, it won’t. Look at the summary of modelling in the CPR.

If the results back up the company’s optimum modelling scenario then that’ll be a boost. If they confirm the more cautious CPR modelling then expectations remain where they are now.

The UT doesn’t change the VWAP at all, how on earth would a £20 trade change a volume weighted average? But the point is nothing will change the available conversion price for 2-3 days. If we get a couple of days at 0.35p it might change a tiny amount.

The reality gap here is that those claiming access to insider information were the ones loudly promising not to sell a single share, and advising everyone else to buy/hold/topup throughout the entire period of completely predictable price collapse. Anyone with the most basic knowledge of the CLN terms knew and yet those implying insider information gave false and misleading advice to the contrary. They might of course have been misled by something they thought was an insider nudge or a wink but you'd have to be pretty naive.

Would she have the same insider information that you have?

Toffers - "ever heard of 'insider' information? Not from me I hasten to add."

What is the insider information that you have?

Toffers - "there's no indication any further CLN will take plus until the JV news is out! "

You are joking right? You know already that they need the ESP appraisal data to try and raise the contingent resource estimates in the CPR towards proven reserves 'before' they can progress discussions on financing. Hopefully the CLN overhang will be cleared well before that kind of news. It would be really worrying if the CLNs were still in play for that long surely?

"We anticipate that the results of this will then further enhance our resource estimate, and move us beyond the contingent resource classification as per the recent CPR that was done, and into those all important bookable reserves which is ultimately what we'll need to move forwards, for project financing."

https://www.helium-one.com/helium-one-ceo-on-southern-rukwa-mining-licence-project-funding/

Average volume, not much to note today, only looks down because of Friday's UT, hasn't really moved.