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I can imagine them doing a 1 for 100 share consolidation. It’s hard to imagine a scenario in which they’re buying back shares.

The point is that the OP made a factual post and the reply muddied it by using AI where it doesn't help.

There's only really one analyst offering a target price recently (the company's joint broker), so the current 'average' pretty much reflects that.

Renergen bought that land for just $1 without knowing they had helium reserves. What a bargain!

EIEO1 - the project’s at an earlier stage do we don’t know what it’s worth net to the company until we know the cost basis and any equity splits. We do know the first discovery well at Itumbula has an optimal production capacity estimated to be very similar to the discovery well in Galactica (about 6mcf per day), so maybe in the region $1m per year gross helium for each . We know the costs of extraction will be much higher in Rukwa due to the deep/remote drilling and the water based processing. But then the equity share is better in Rukwa at the moment. No way of being precise but I’d guess the income per well is probably fairly similar in the two projects. Both propose around 30-40 wells long term. The reserve estimates are a bit larger in Rukwa and long lasting. If they develop efficiencies in well optimisation and processing (which is likely as its very new technology) then maybe more. That’s brilliant though for a small company like HE1 to be looking at future annual income of tens of millions.

Looks good, larger than the Colorado project and almost wholly owned at the moment rather than 50-50 split, albeit with the higher costs of extraction over longer timescales. Should be worth at least as much. Great to see the transition from explorer to producer finally happening and on two fronts.

"📌 Deterministic sum of 2C Gross Helium Contingent Resources for the Itumbula development have been evaluated by Sproule ERCE as 295,797 Mscf and a 3C case of 1,345,591 Mscf Gross Helium Contingent Resources

📌 Additional Prospective Resources within the remainder of the Mining Licence area, excluding resources assigned to the Itumbula discovery, have been evaluated by Sproule ERCE as 709,239 Mscf (2U) and 3,227,556 Mscf (3U) (Unrisked)"

They've corrected the LinkedIn, as expected

"295,797 thousand" is 295,797,000 not 295,797,000,000. Either the RNS needs correction or the LinkedIn needs correction (which seems more likely?). We'll have to see the text of the actual Sproule report to confirm which.

Press agency is going to be in trouble if they’ve confused mscf with Mscf

That would be mind blowing if true and you have to hope a mining company knows what it’s posting 🤔

That’s a huge decimal place difference! They’ve fine this before with ambiguity between US and European definitions of mcsf/Mcsf

“ Contingent Helium Resources: 2C Gross Helium Contingent Resources estimated at 295.8 Bcf, with a 3C case of 1.35 Tcf.

📌 Additional Prospective Resources: Across the wider Mining Licence area (excluding Itumbula), unrisked resources are estimated at 709.2 Bcf (2U) and 3.23 Tcf (3U).”

How many times have you ‘topped up again’ this year and what is the return on your investment?

50% is excellent. The CoS for Tai was 10-14%

One step at a time. The project is just entering the appraisal stage after the first discovery well. It’s prudent to work with the 2C and consider the chances of the 2U to start with. That’s already bigger than the Colorado project. If the EPS proves concept then it all changes again.

You’ve misread the numbers again IG, wilfully so. It’s 1bcf 2U and 4.8bcf 3U. But note the single discovery well at Itumbula is 0.29bcf 2C (that’s a third of the entire prospect just from one well, albeit over time, at cost). It’s all about chance of success. They would only need a couple more wells like Itumbula to convert the total 2U to 2C. The question is whether Lorna’s geology and drilling is better than Sproule’s conservative risk allocation, and they’re planning 46. We’ll see.

Forget about guessing at semantics and focus on the numbers. As expected, it’s a bigger and longer project than Colorado, possibly much bigger, and HE1 currently owns almost all of it. So far so good..

Colorado - 7 to 16 to 30 or more

Rukwa - 5 to 15 to 46

That’s a lot of future helium production capacity for a small company. Say $1m gross per well would be more than the current mcap per year in revenue (minus the obvious capex and opex costs of recovery)

A surprising amount that’s not in an RNS!

CPR looks good, and nice to see it done by Sproule ERCE rather than some cowboy concern. That’s a great endorsement for such a novel approach and validates confidence in commercial helium extraction from water. They’ve been suitably cautious about the ‘contingent’ nature, which is to be expected. Main focus for me is confirming the development approach of building a pilot at ‘lower cost’ to prove it through ‘early production’. Congrats to all involved.

“The EPS is conceptually similar to the full development, but with lower initial capital investment. Production wells will be tied back to a central early production facility, where produced fluids will be processed into sales helium for export, and wastewater for disposal, with waste gases vented on site. The EPS is assumed to operate for six months before the full development project is commenced.”