Member Info for Blubay

Chance of some news tomorrow by the smell of it, literally only a couple of shares in the blue on AIM today

Totally. Very well hedged as a company with access to both Asian markets from Africa and US domestic tariff free market.

Very good looking bounce from today's market carnage, interesting

“ will be at least mid 20's”

Don’t be ridiculous, that helps no one

"Not sure I would call that a suspended operation delay. "

Sure, but they did make a point of putting that in the headline summary... "...operations currently suspended due to weather conditions" while no mention in the text.

and 'delays' is what's been repeated in the media headlines, which is usually a bit of a red flag for traders...

https://uk.investing.com/news/company-news/helium-one-progresses-on-colorado-well-amid-weather-delays-93CH-4014412

Obviously the addition of a suspended operations delay RNS this morning doesn't help the share price much. If I was cynical I might wonder why they made that last minute text edit going into the final day of the tax year ;-)

I agree that the market has to be uncertain about the resource/reservoir size estimates and the project financing until more is announced. The lack of news alone is usually enough to drift AIM share prices, and then you have the whole risk off market environment hammering all risk stocks. The narrow range of price stability is actually more surprising than the short term drift. I was just contesting your well trodden fear that HE1 has to somehow 'raise $100m' against its AIM mcap. It doesn't. At the moment it doesn't need to raise anything. The new Rukwa project venture company will need to raise $75-100m against it's project assets and revenue, in stages, over the course of its multi annual development. We'll have to wait and see whether HE1 needs to pump prime any of the early stage appraisal but there's not a cat in hell's chance of a capital raise on AIM to fund the Rukwa project capex.

The Rukwa project is not going to be exporting any helium from DeS to the US, and the Colorado project now becomes increasingly valuable for the US domestic market now, so no penalty there and a win I think?

Can't see them doing the consolidation anytime before the Rukwa project is settled and the SP rises.

No, the Tanzanian operating company needs less money than the Rukwa project is worth in order to develop it and turn a profit on its operation. HE1 needs very little money because it is cash funded for this year and all its current operations are capital funded through to first revenues if all goes to plan. You're completely misrepresenting the situation. Yes, the finance negotiations are critical, insofar as they determine what share of equity and revenue HE1 will receive from the Rukwa venture. All that is needed in the first instance is sufficient priming capital to complete the appraisal phase. We wait to see if that comes with the new venture company or from HE1 or a mix.

The weather update explains the late publication this morning. Top marks for diligence and transparency.

Unless they’ve now decided that intermediary drill section updates aren’t price sensitive (and very little news seems to be at the moment!) then they still have a duty to advise the market at the earliest opportunity.

Aren’t 🙃

As long as they are hitting snags or delays then the budget should hold, and there should be a bit of contingency headroom. Someone had to pay for resurfacing the gravel service road during the bad weather, which wasn’t factored, but it won’t have been a lot. Hopefully on budget but I don’t think we’ll find out until they get to the last well (which doesn’t have drill permit yet).

Tech malfunctions aside, there was no indication of any kind of business plan other than, trust us, and "helium is a thing". I mean the host was lobbing him underarm balls like an intern interview, even asked where he wanted to see the company in five years time and all he could say was he hoped they'd have a plan!

And that was a re-run because they had to cancel the first one due to 'technical problems', absolutely shocking

True I guess, Minchin pretty much disproved the shallow target bubbles easy pickings hypothesis, hence Lorna's gamble for the fractured basement

No discovery, no rig, no funding, no strategy, no drilling plan. It's painful, desperate. Still, maybe HE1 can buy up their licences when they give up the ghost?

Good grief indeed. Helium demand, Tanzania, unique potential, prospective targets, new team, buzz, mumble mumble, shallow dry gas leads, bubbles, million cubic square feet a day, in your dreams, mumble mumble, where's my notes? Oh look, HE1 are doing really well next door. Natural hydrogen is 'a thing', Bill Gates, Jeff Bezos, potential. We've got issues, disappointed shareholders but I got into this project because 'I believe helium is going to be a thing', 2.5 million of my own money down the pan, but rigid focus. They can barely string a sentence together! That is one of the most embarrassing presentations I've seen on AIM, can't believe they've published that unedited!

I just meant in general, early stage small cap companies only list on AIM for one reason, to raise capital and because they don't have enough success, collateral or revenue to raise it any other way. The biggest pumps on AIM are often by the earliest stage and highest risk ventures, promising fortunes through blue skies innovation or wildcat exploration. That's the CEO's job at the early stage, sell dreams to the market for capital. What I like about HE1 at this point in development, since the new board in 2023, is that they're not doing that. We're long past the fantasies of 138bcf of helium and now talking about realistic cash revenue scenarios. But that doesn't stop these boards from being preyed on by pump and dump crews as well as aggressive shorters, we've all seen it happen here.