Member Info for cperkin

Like it or not the deal states very clearly that cash will be returned for any monies not spent Crusty.

I don't think you are facing up to reality, the deal was $5 mill cash and a $35 mill carry with any money not spent returned as cash, so a cash equivalent offer, you seem to ignore the facts of the deal mrc/d

Still, we can waffle on all or we like, I expect we will find out next year.

Enjoy your Sunday.

The BOD don't agree with you mrc/d they have made that publicly very clear. They will not sell unless an offer is made that values the asset sensibly. We have just seen a sale for $20 million per 25% so a minimum benchmark has already been set and the value has now increased as it is funded to production to the tune of $107 million now.
They have a $5 million facility + millions of HE-1 shares + options to off load as and when they see fit to meet the 2021 $5.7 mill bill.

Lets see where they are in Q2 I would say.

SCIR hold holds 1 million share options in Helium One, with a strike price of US$0.035 (c. 2.70 pence) along with 21,297,388 shares in Helium One
https://www.lse.co.uk/rns/SCIR/helium-one-update-d9obk6cem1t4nr1.html

I disagree mrc, the company or rather shareholders have pumped around £13 million into the asset thus far with very tangible & positive drill results. The 2C assets and GIIP are large with very high upside potential & now with a major financial backer and experienced operator in place to bring it to production.
Far better to hold the line as the BOD are doing and drill C1 if no sensible offers before hand imo. I expect the asset will be worth $10's of millions more post a positive appraisal drill, never mind any additional resource from the Jurassic, so a high potential ROI v drill costs.

Over to the BOD.

@ christoff No one ever said it was steal, however post dilution and IPO SCIR's 21,297,388 shares in HE1 are now carried for 2D in fill and 3 drills & a spend up to $6million. So your £1.2 million out of pocket is not a correct calculation it has been converted to capital expenditure. and of course till they sell and @ what price, we remain to see what the return on HE1 is.

@mrc they have no cash, they blew it all on their failed deal, my understanding is that they will sell Ruvuma when the price/time is right to fund/partly fund any European assets? When and what price is the big unknown, I would be surprised if we saw any activity on sale prior to the next licence renewal.

But Christoff, you kept telling us Helium-1 is a con and the company is not real, you saying you believe it is now and did not see it coming?

Ah ok mrc, I though I had missed some material information, but not the case.

Q2-21 before seismic starts, plenty of time for the BOD to continue to work with their "several interested parties" If it runs to 2022 then they might as well drill and raise the price by 10's of millions on a positive appraisal imo.

As far as I can see AA the plan is to let Helium-1 run now its funded for 2D + 3 drills (They can jump anytime if the MCAP gets ramped to silly numbers) and use this to fund the 2021 Ruvuma work programme, if not already sold & any new producing asset will require the Ruvuma sale.

https://www.proactiveinvestors.co.uk/companies/news/935743/helium-ones-arrival-on-aim-gives-london-investors-a-novel-and-exciting-new-take-on-exploration-935743.html

Thanks Harry and a sound summary. RBD has much more to lose than the other players when it comes to WN but also much more to gain if the drill delivers.

GL

Highly unlikely, based on what evidence?

All comes down to the drill, currently the market does not seem to believe in a 72% COS appraisal drill, well at least @ RBD anyways.

No worries steve, BID closed @ 4.0p, ask 4.5p & SP 4.25P Not bad for a 2.85p placing for £6 million.

I don't expect them to hold for drill results unless the inside information available to them at the time suggests they should mrc. I think the potential prize based on their peers is larger than 4p come Q2 spud

Certainly worth watching HE1 come end Q1 next year, could be some good opportunities for those with available cash imo.

Very positive comments from the guys @VSACapital on @Heliumone1

...Maybe catch their comments on #HE1 from 1m45s onwards.

https://open.spotify.com/episode/3zpEr3nS0SlLvEaxlO6f1z?si=T-xsFmIoT8Wqu4C4H4a3iA&nd=1

I fully expect I will buy HE1 shares in the run up to the spud and drill and I am certain I will not be the only one.

SCIR are basically carried now for 2D infill and 3 drills @ Helium-1

Friday FOMO in the last hour ivans?

RNS.
https://www.lse.co.uk/rns/SCIR/

I expect they will hold onto the shares at least in the run up to the drill. HE-1 @10p gives them over £2 million of liquidity, 20p over $4 million, current = just under £1 mill.

Could come in very handy to support Ruvuma if not already sold.

GL holders.

There are a lot of people who are still unable to trade on some platforms, there could well be a second wave of selling latter?

SCIRS stake is currently work around £900,000 v the £600,000 @ placing price.

Attis bought at 0.25 = 5.9p today v the 4.25p price