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For you, Chavitravi:

The short answer: because “more sells than buys” on sites like ADVFN or LSE does not actually mean more people were selling than buying, and the reported buy/sell split often has no direct relationship to price direction.

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Why the price can rise even when reported “sells” outnumber “buys”

1. Buy/sell labels on ADVFN & LSE are guesses, not real data

Platforms such as ADVFN and London South East do not know whether a trade was initiated by a buyer or a seller.

They infer it using the bid–ask midpoint:

• Trades near the bid are labelled “sell”

• Trades near the ask are labelled “buy”

This method is not reliable, especially in AIM stocks with wide spreads and low liquidity.

So a large portion of the “sells” you saw may actually have been buys.

This is a well‑known limitation of UK retail trade reporting (inference based on bid/ask, not actual order flow).

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2. Price moves are driven by the aggressor, not the label

A trade only moves the price if the aggressor (the side crossing the spread) lifts the ask or hits the bid.

If buyers are aggressive and repeatedly lift the ask, the price rises —

even if the system mislabels those trades as “sells.”

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3. Market makers can raise prices even on low buy volume

Helix Exploration trades on AIM, where market makers control the quotes.

Market makers may raise prices when:

• They anticipate demand

• They are short of inventory

• They see institutional or delayed trades coming

• News flow is positive (e.g., helium sales arrangements, drilling updates)

This can push the price up without visible buy volume.

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4. Delayed trade reporting can distort the picture

Some trades qualify for deferred publication due to size or type.

These appear later, often at prices that make earlier volume look like “sells” even though they were part of a larger buy program.

This is explicitly noted in LSE trade reporting rules.

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5. AIM stocks often move on sentiment, not volume

Helix has had:

• Helium sales agreements

• Positive drilling updates

• Institutional interest

• Strategic partnerships (e.g., USAF‑related selection)

Even modest buying pressure can move the price sharply because the free float is relatively small and liquidity is thin.

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Putting it together for today’s situation

If ADVFN/LSE shows 4.5× more “sells” than “buys” but the price rose, the most likely explanation is:

Most of those “sells” were actually buys misclassified by the bid/ask algorithm, and the real order flow was dominated by buyers lifting the ask.

GLA. CJ

Interesting points:

📌 What Helix has announced since February

All items below are confirmed RNS releases:

• 23 Feb 2026 — Successful first helium gas production InvestEgate

• 02–03 Mar 2026 — Proposed placing + Result of placing (8.8m shares at 25p) InvestEgate

• 06 Mar 2026 — Helix expands Rudyard leasehold (land position growth) InvestEgate

• 09 Mar 2026 — Company update (general operational progress) InvestEgate

• 26 Mar 2026 — Annual Report & Full Year Results InvestEgate

• 17–24 Apr 2026 — Holdings RNS + Notice of AGM (corporate governance, not operational) InvestEgate

So the company has been communicating — just not with the kind of operational detail investors are waiting for (e.g., production rates, sales, offtake agreements).

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🧭 Why it feels like silence despite these RNS releases

1. No new operational data since production began

The last operationally meaningful update was 23 February, confirming first helium production. Since then, updates have been administrative or financial rather than technical. This creates the impression of silence even though RNS activity continues.

2. Early production phases often produce little “news‑worthy” data

Once a plant starts up, companies typically spend weeks stabilising flow rates, tuning equipment, and validating gas purity. These steps are essential but rarely meet AIM’s “material information” threshold.

3. Offtake negotiations are confidential

Helix previously indicated that offtake partners would visit the site after production began. Such negotiations can take months and cannot be disclosed until signed. This is a common quiet period for new producers.

4. AIM rules discourage unnecessary updates

AIM companies must avoid releasing non‑material or promotional updates. If operations are proceeding normally, silence is often compliance rather than a red flag.

5. The company may be preparing a consolidated operational update

It’s common for small-cap resource companies to wait until they can report:

• stable production rates

• helium purity results

• revenue commencement

• offtake agreements

All at once, rather than drip‑feeding partial information.

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🧩 What this means for you as an investor

• The next meaningful catalyst is likely to be:• production ramp‑up data

• first sales

• an offtake agreement

• The company is active, but not releasing new operational detail.

• No negative operational RNS has been issued — which is itself informative.

Fingers crossed for the red dot we've all been waiting for soon. GLA. CJ

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