Member Info for Blubay

Who says “ Top 3 shareholders have 49.5% currently.”?

It’s not difficult theoretically, as helium does not dissolve and should be easily liberated at surface pressure. It’s just difficult to do commercially due to the gas/water ratio, the volume of water that needs to extracted and disposed, the two stage gas processing, and the energy required, for the amount of helium produced. That’s why the Chinese and German process developers are focused on helium as a byproduct of geothermal heating/energy plants rather than as primary. HE1 might choose to do something similar perhaps?

“is it unique in good or difficult way”

In a difficult way but hopefully a good way. No company had ever extracted helium from water at commercial scale, until the Chinese plant that came on stream this summer (but they’re doing it as a byproduct of geothermal energy production). It’s developing technology. If they crack it then it’s an industry game changer.

Crypt - “ If you wait for certainty, you’ll pay a much higher price.”

Everyone has their own risk reward calculation. I would have no problem at all paying the higher price my shares were at when I thought we had certainty previously, just before the news broke that we didn’t. I’d also be happy to pay the current price or a lower price for the same degree of reassurance we had previously, if and when that’s forthcoming. I’m also very happy for anyone taking a punt if that works out well for them. GLA DYOR

It’s a public discussion forum and people post whatever they like, not sure anyone here needs to justify their approach. I’ve always been open that it’s a hobby share for me or a coffee break share or whatever you want to call it. It’s an interesting story and potentially a success story, if they’re able to claw their way out of the cesspit that is AIM. I’ve always been optimistic about the company, notably since the current board takeover in 2023. I think they have a good strategy and stronger skill set than many small caps. That doesn’t mean being permanently optimistic about the short term share price or retail investment case. Those things are more a reflection on UK risk capital markets than on the company at this stage.

I don’t think I have ‘an agenda’. I’m more interested in the company story and its long term future than the share price to be honest. It remains more of a hobby share for me, pre-revenue anyway.

I’m not buying at the moment, too much uncertainty. Pleased that they got the fundraise away successfully but there still has been zero explanation to the market of the reason the Galactica budget doubled or what it will be spent on exactly. So far there has been no attempt to defend the company share value. I’m hoping there’s more to it than just ‘some delays and overspends’. My concern arose when Galactica near term production was postponed, with the plant still at concept design stage, so I won’t be buying again until there is a clear roadmap to that production starting up. I’m more interested in the company long term than the price short term anyway but there’s not much else to discuss at the moment but the SP. Until we know more about the ‘investors’ or their agreement then the price is going to overshadowed by the implied conversion.

Why are you posting 2U/P50 resource estimates from 2019 before any exploration or drilling?

Similar volume and VWAP today, so 92.5% of 0.64p = 0.59p, with a hypothetical conversion price currently available at 0.48p

Then why wouldn’t it be mentioned in the independent CPR on resource estimates?

BensSIPP - “I have over 50% of portfolio in these shares.”

That’s mad.

Songwe Helium Ltd was registered as a company in June and the directors named on the filed documents. The active licence was awarded to Songwe as you say, although the framework agreement was not finalised I think. It’s not unusual for a ceremonial to be a long time off though.

That’s disingenuous. Six production wells completed in Colorado and ready to tie in as soon as production plant is built. Mining licence awarded in Tanzania, CPR published, rig waiting to start on electric pump appraisal.

Increased volume today compared to recent days. Approx ten day VWAP around 0.59p with hypothetical conversion price of 0.47p at the moment

“We don't care how low the SP goes in the short term”

Really?

Ten day VWAP currently running around 0.66p, with a hypothetical conversion price of 0.488p. Hopefully that starts to pick up before it’s needed.

Current ten day VWAP seems to be just under 0.68, with a hypothetical conversion price currently of 0.5p, in case anyone is interested at this point

There are various MMs offering different spreads in the market for HE1 shares. You can see actual prices for trades that have been published, plus an indicative algorithm revolving around a mid price. Some 'sells' may still be above the average mid price, or 'buys' below.

How do you know that buys outweigh sells?

From time to time it does, although those times are relatively rare. Timing the market is everything on AIM, and passive time in the market often erodes through dilution, so if you feel now is the right timing then go for it.