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The mining licence is still reading "This application is unavailable at the moment".

It must be a sign! No leaks this time...

Based on their expertise and roles, the three individuals most likely to be appointed as directors for Songwe Ltd are:

Lorna Blaisse: As CEO of Helium One, she brings senior leadership and significant technical expertise in resource exploration, which is essential for a company focused on helium development.

Graham Jacobs: Serving as Financial and Commercial Director, Jacobs offers strong financial oversight and commercial acumen, both critical for managing a new venture’s operations and growth.

Nigel Friend: As a Non-Executive Director and Chartered Accountant, Friend provides independent oversight and governance, a best practice for balanced board management, especially in the energy sector.

These appointments combine operational leadership, financial management, and independent oversight, aligning with common best practices for effective and compliant company governance in the UK.

Although our new addition Nish may play a role depending on whether there is a UAE/JV connection.

Just a thought, tomorrow is Independance day. So the American Markets will be closed.

A lesser-known expertise Nishant Dighe brings to Helium One’s strategy is his background in strategic consultancy in addition to his technical and executive experience. While his roles at ExxonMobil, Panoro Energy, and RAK Gas are well publicized, Dighe also worked with Marakon Associates, a respected strategic consultancy. This experience means he is adept not only at operational leadership but also at corporate strategy, business transformation, and value optimization—skills that are particularly valuable as Helium One seeks to transition from exploration to commercial production and manage assets across multiple jurisdictions.

His combined expertise in engineering, commercial management, and strategic consulting gives him a unique perspective on risk management, portfolio optimization, and corporate growth, which can help Helium One navigate both technical and market challenges as it scales up operations. This blend of skills is less common among non-executive directors in the sector and is likely to influence Helium One’s approach to both project execution and long-term value creation.

Great Thurssday morning RNS, brilliant to see expertise joining the board. Could we get an intraday or Friday morning fuether announcement or will all be pushed across to the Saba Saba week for lift off?

I agree with you Punter regarding the equity raise needing shareholder approval. Our word is limited to these BBs.

The RNS will tell the world, and open the flood gates to the confidence in a share price rising without the fear of dilution.

Saba Saba Day would be a great place to start a weeks long share hike. ✨️

There is still time tomorrow or Friday for that all important RNS. Although, its the RNS that shows the market this will not be funded by equity raise that will set it on fire.

I thought the same guys.

Considering only a few months before that, they were still saying tie in and revenue within Q2, I couldn't understand how this would fall back into Q4, 3 to 6 months later, especially after the drilling campaign had gone to plan.

I know Colorado and Rukwa are being kept mutually exclusive, to me the delay was made as a result of cashflow.

I recon HE1 have around 8 million in the bank. The question is, is this enough to progress with the EPS until the resource is proven, then opening the doors to debt/loan agreements.

Is there a pending decision on whether to continue the further drilling while also tieing back in at the same time.

It feels like access to capital is the main constraint to progress.

Eyes on the prize people!

Peter will be getting washed out with tide. 🤣

I've just been carrying out more research on the subject of the Rukwa rift basin, and had a chat with Gemini. 'She' came up with the analogy that the Rukwa basin is like a shaken-up bottle of fizzy pop, once you unscrew the cap, the geothermal heat, pressure, and bubbles all start flowing to the top! Those bubbles come from a n expansive river that sits under the earths crust and could give rise to decades of Helium/Hydrogen supply.

Lorna mentions in her latest YouTube interview that they were currently studying the hydrological effects within the Rukwa basin. Put two and two together and this is the equivalent to a 'Globally significant finding'!!!!

I've also reconsidered using hydrogen to locally power extraction as a fuel source, captured through a filtration membrane. This approach is feasible and could be utilised alongside any geothermal potential.

Who's with me for some exponential growth on the Helium One Global Rocket.... Could we see an RNS towards the back end of this week in preparation for the Saba Saba Day celebrations?

Today is the 1st July, which represents H2 & Q3.... maybe this is the start of something special. 🤔 🚀

The Tanzanian government is not "broke." It recently announced a $21.7 billion budget for 2025/26, with plans for infrastructure, elections, and public services. Government debt stands at about $12.9 billion as of March 2025, which is a moderate 48% of GDP—not unusual for developing economies. The country’s economic growth is forecast at 6% for 2025, and the budget deficit is projected to decrease, reflecting improving fiscal health.

The Population is expected to reach nearly 75 million in 2026, with a growth rate of about 2.8–2.9% per year, which is typical for sub -saharan Africa.

Your statement Sandyman is flat out wrong...

There is still a pending question on whether access to capital to fund the EPS will be via equity raise or low interest bank loan aided by the Tanzanian government. Fingers crossed it will be the latter.

Let's get ready for that all important RNS and all will be revealed. 🚀🚀

I suspect the reason retail aren't buying shares in significant numbers up to now has been down to previous dilution. Once the JV makes this clear and clarifies how this will be funded, removing the dilution risk, this will rocket. After the EPS is underway and there is confidence in the .arket that this will be successful, this will really shift! Good luck to all!

Thanks for the feedback people. 😀

Look out for that red dot next week (Wednesday) to take us up to the first rung of the ladder....anything can happen from there, the sky is no longer the limit! 🚀

Blu, what is your take on the risk of further dilution? I know Jacobs has mentioned that this may be required. I'm thinking maybe a $10million contribution.... what is everyone elses thoughts. Punter, I am interested in all views so welcome blus as well as yours.

Correct guys, by releasing the CPR to the whole market, HE1 now have verified credibility to build competion between all off takers outside of Confidentialality agreements. There by securing the best price and securing finance agreements between HE1/TG.

All the breadcrumbs appear to lead down this road. This would suggest that no larger player will be stepping certainly in the early phase.

There is a good chance that the JV will only be held between He1 and the Tanzanian government. Particularly given the compounding effect of developing in smaller funded steps. Here to a low cost debt solution where payback is created from a delayed income. This could explain why they are still agreeing the sale of the Helium to offtakers.

Could the joint venture involve government guarantees or other support mechanisms

"Yes, the joint venture could involve government guarantees or other support mechanisms. Governments often participate in joint ventures by providing financial assistance such as direct loans, guarantees of privately generated debt, or support for infrastructure and essential capital investments. These guarantees and support mechanisms help reduce investment risk, lower borrowing costs, and can make financing more accessible for large industrial projects. Additionally, contingent commitments, comfort letters, or equity subscriptions are sometimes used to ensure ongoing financial stability for the venture.

In summary, while not automatic, it is common and feasible for government-backed joint ventures to include guarantees or support to facilitate project success and attract further investment."