Member Info for EIE01

Last attempt, hopefully clearer!!!!

Wilco - Valuation of Reserves as per RNS dated 8 Feb 2022. Note this EXCLUDES WK and excludes more recent new metals discoveries.

Metal -------------Tonnes ------------Oz (equivalent) ---------Price Per Oz ($)-------- In Ground Value ($)

Copper ----------292,714------------10,324,900,922---------- 0.3505-------------------3,619,200,426

Nickel -----------388,485 ------------13,703,031,405----------- 0.44--------------------- 5,968,295,055

Cobalt ------------13,947------------ 491,952,531-------------- 0.95 ------------------------464,923,245

Palladium -------148 -----------------5,220,404---------------- 1,306.00----------------- 6,817,847,624

Platinum --------46 -------------------1,622,558---------------- 1,449.00 ------------------2,351,086,542

Silver -----------68--------------------- 2,398,564 -----------------38.44 ---------------------92,191,206

Gold -------------8 ------------------------282,184 ---------------3,365.00 -------------------949,549,160

Total in ground value of Reserves EXCLUDING WK is $20,263,093,258 which equates to GBP 14,994,689,011

In the last week the total value has increased by GBP 428,334,315 which highlights the bullish increase in metals prices.

Re-posted hopefully edited better.

Wilco - Valuation of Reserves as per RNS dated 8 Feb 2022. Note this EXCLUDES WK and excludes more recent new metals discoveries.

Metal Tonnes Oz (equivalent) Price Per Oz ($) In Ground Value ($)

Copper 292,714 10,324,900,922 0.3505 3,619,200,426

Nickel 388,485 13,703,031,405 0.44 5,968,295,055

Cobalt 13,947 491,952,531 0.95 464,923,245

Palladium 148 5,220,404 1,306.00 6,817,847,624

Platinum 46 1,622,558 1,449.00 2,351,086,542

Silver 68 2,398,564 38.44 92,191,206

Gold 8 282,184 3,365.00 949,549,160

Total in ground value of Reserves EXCLUDING WK is $20,263,093,258 which equates to GBP 14,994,689,011

In the last week the total value has increased by GBP 428,334,315 which highlights the bullish increase in metals prices.

Wilco - Valuation of Reserves as per RNS dated 8 Feb 2022. Note this EXCLUDES WK and excludes more recent new metals discoveries.

Metal Tonnes Oz (equivalent) Price Per Oz ($) In Ground Value ($)

Copper 292,714 10,324,900,922 0.3505 3,619,200,426

Nickel 388,485 13,703,031,405 0.44 5,968,295,055

Cobalt 13,947 491,952,531 0.95 464,923,245

Palladium 148 5,220,404 1,306.00 6,817,847,624

Platinum 46 1,622,558 1,449.00 2,351,086,542

Silver 68 2,398,564 38.44 92,191,206

Gold 8 282,184 3,365.00 949,549,160

Total in ground value of Reserves EXCLUDING WK is $20,263,093,258 which equates to GBP 14,994,689,011

In the last week the total value has increased by GBP 428,334,315 which highlights the bullish increase in metals prices.

Nickel

Cobalt

Palladium

Platinum

Silver

Gold

No announcement from Blue Star in regards funding their holding in Colorado.

How would Blue Star fund?

Sorry but that statement is nonsense.

With capex and infrastructure costs estimated to be up to 100m and you believe Rukwa will only generate 5m per year, make no sense.

You wrote that comment as a statement of fact, very disingenuous.

Bluebay- You may had missed my question to you the other day.

You made this statement “Currently the CPR is modelling perhaps $50m of extraction over the first ten years”

Where did you get this information?

Wilco - I have previously.

You shouldn’t be investing in equities if you worry about being down by 15% and especially shouldn’t be investing in AIM stocks

Wilco - Just looking at your Platinum calc valuation, you have now reduced significantly from $70B to $9.9B quite a reduction!!!

A couple of observations.

You are adding together reserves and resources, this is wrong. Reserves are included within Resources.

You are valuing Platinum at $950oz when it is currently $1,436oz

Wilco - Can you explain the following calc:

Pt (40%) 73.84 Moz × $950 ≈ $70.2 billion

Per the RNS dated 8 Feb 22 (excludes WK)

Platinum resources of 276 tonnes which equates to 9,735,348 ounces

Current price of Platinum is $1,436 per oz

9,735,348 x 1,436 =$13.9b

Bluebay - Care to elaborate on your comment “Currently the CPR is modelling perhaps $50m of extraction over the first ten years”

Where was this stated?

Bluebay - You haven’t said that?

Unless I have misunderstood some of your previous messages, I’ve read numourous posts in which you have said the results from Rukwa weren’t sufficient enough to get onboard JV, financier etc as such HE1 are doing this additional work.

My main takeaway from yesterday’s RNS.

Rukwa

Funds to allow additional work “to provide a greater understanding of the helium concentrations at higher flow rates. This information will then be used to enhance the development programme.”

As Bluebay has said, this is likely to be a specific request from potential project JV partners etc

Colorado

Funds will allow the project to produce first gas and cash flow generative in Q4 25

With Rukwa work due to commence in Q4 25 I feel positive, even allowing for this additional requirement.

A couple of points that stand out to me in respect of the CLN funding:

The CLN doesn’t appear to have any interest charge, only in the event of default.

Any amount of the advance outstanding is repayable 12 months after the drawdown by the company. The company can repay by cash or shares.

Both clauses are positive for the company although the second clause is less likely to be relevant due to investors potentially converting any loan advance.

Love to see how you have calculated $175b

Based on RNS 22 Feb 22 it is £15b plus whatever WK holds

Agreed, what’s coming is designed to force Putin to the table to negotiate peace.

Trump will have the option to impose 500% tariffs.

Russia would know this is coming, hence why Lavrov has suggested new peace options to Rubio.

Putin is being backed into a corner, with limited options.

Russia has a lot to gain from a peace settlement.

Interesting few weeks coming.

Oak Securities issued a research note on Pulsar Helium in April 25.

Using $450/mcf and recoverable resources of 0.7BCF plus some other prospects derived a market cap of £85m

I appreciate it’s not a simple look through to value HE1, but it is easy to see a share price of 3-4p here.

Trump stating he is disappointed with Russia is an obvious and fair statement.

I find it interesting he added “…..but we’ll see what happens over the next couple of weeks”

That reads as though he sees the potential for the situation with Russia to change within that period.

Toffers throws out wide theories based on tenuous links.

She even said Schlumberger could JV, based on nothing other than completing drill.

Best avoid her wild theories, will sell soon due to some big concern.

Believe she sold before due to supposedly how corrupt she believe Tanzania to be.

Someone you met on holiday!!!

Stop it Toffers your killing me, so funny.

Absolute comedy!!