Member Info for HereforHemo

No concern for me. Very happy production and revenue still on track for Q2 and even more so that it looks like the CO2 will be ready for sale as well, uplifting our take to $3m per annum.

So 6 wells to drill Q1, production and revenue in Q2 followed by at least another 9 wells to follow. All fully funded!

Now…let’s focus on Rukwa for the rest of December.

Exciting times.

Following the Form 2 approvals, the 30 day notice period BlueStar had to give landowners before commencing drilling is up on Monday.

Lorna Blaisse, Chief Executive Officer, commented:

"These approvals enable the drilling phase to commence, and we very much look forward to entering this partnership with the Blue Star team and starting this exciting drilling programme this quarter."

15 development wells in total will be drilled adding to the 1 already awaiting tie in.

Helium One will soon be generating revenue and will move from an exploration company to production company.

Fellow investors. I get that people are frustrated and that most here are currently underwater. I'm also acutely aware that certain people on this board have bet on the share price to fall and take great pleasure on playing with people's emotions and although disingenuous in their comments, endeavor to create uncertainty in people's minds.

But, whatever the provocation, there is no need for abuse or to try and belittle other posters. If you don't like someone's posts, then surely the best course of action is to simply ignore them, or filter the individual.

The alternative is to ruin the board with mindless chats between individuals and drown out any sensible discussion on the company and it's prospects.

Emotion when investing does not end well. Be calm and focus on the fundamentals. Just friendly advice.

Oh and as for the rig, I'm aware it would be too expensive to ship to the states, I just wanted to pad out the question.

The answer I want is we want it at Rukwa so we can drill down to the basement at Tai as soon as we get the Mining Licence approved, before the rainy season that starts in February.

As you say, you don't ask you don't get.

Cat, as you say is often more valuable to find out why they don't answer a question rather than getting an answer to the question posed.

Nothing wrong with fishing and seeing who takes the bait.

I have asked what I believe are three pertinent questions for the upcoming AGM.

1. Why did you not release the Feasibility Study to investors when submitting the Mining License Application?

2. Please can you confirm all the resource estimates that were submitted in the ML application for the southern Rukwa Helium Project?

3. Why was the rig left hot stacked in Rukwa rather than leasing it out or shipping it across to America to reduce drilling costs for Galactica?

Hopefully, if we haven’t heard beforehand the above should give us a clearer understanding of both scope and timescales.

https://aeon-petro.com/data/files/Gasworld%20Helium%20Resources%20Reserves.pdf

Menus should be Zeus. Bloody spellcheck.

Norfolk I think you right, everyone knows how big the Southern Rukwa Helium Project is, except shareholders.

Certainty Cynosure know, and both their brokers, Menus and Panmure Liberum know, the President and government of Tanzania know, as do the Mining Commission and Tanzanian Investment Centre. All the associated journalists who have written articles appear to know as well, and obviously the BOD of Helium One know as well.

So you're right, in my opinion anyone who's anyone knows how big Helium One's Rukwa Project is, apart from shareholders.

What shareholders DO know is that the Tai CPR stated estimated reserves of 2.8 Bcf to 7.1 Bcf. We also know the Itumbula EWT was extremely successful and positive and most importantly Lorna stated the discovery was of global significance.

We WILL be finding out in the very near future how big the discovery in Tanzania is, and there is every indication it's very big indeed. That means it's billions of cubic feet, which in turn means billions of dollars of revenue.

And that in turn means a very substantial rerate in the Mcap and SP.

Tick tock.

Tv I’m pretty sure they are still holding but will find out for sure.

Cynosure Capital Partners Ltd. and our subsidiary unit Cynosure Private Equity Ltd., identify, advise and invest in early to medium stage companies that have reached an inflection point in their development and are seeking an engaged capital partner as they pursue their next phase of growth.

We take pride in the power of our relationships and networks around the globe. We believe in the strength of people. Each situation and special need are tailored for success, with a personal plan developed for maximum benefit, growth, profit and long-term achievement.

Mining in Tanzania

The government revenue from the sector during the 2022/2023 fiscal year was 678bn/-, while in 2023/24 fiscal year, it accrued 753bn/-. Looking ahead, Mr Mavunde set a target of 1tri/ in revenue for the ongoing 2024/2025 fiscal year, expressing confidence that this ambitious goal is achievable due to the government’s commitment to transforming the mining sector.

He attributed the sector’s successes to the government’s efforts in conducting High-Resolution Airborne Geographical Surveys, which account for 16 per cent of the progress.

Mr Mavunde expressed optimism about continued positive results from the sector due to intensified surveys.

The government has introduced Vision 2030, themed “Madini ni Maisha na Utajiri” (Minerals are Life and Wealth), which aims to integrate mining with other economic sectors such as agriculture, water, and health through geographical surveys.

The Vision 2030 will facilitate detailed mineral exploration, promote innovation, and improve planning. Additionally, it will address soil acidity issues by using lime during cultivation and treat salinity in over 3.7 million hectares of land with gypsum.

Mining Commission stresses optimisation of investment opportunities

The minister also highlighted ongoing helium explorations in Rukwa and Songwe regions, which could position Tanzania as the third-largest helium producer globally, after Russia and the United States. Helium is essential for MRI (magnetic resonance imaging) scan machines and other applications.

The completion of the High-Resolution Airborne Geographical Survey is expected to attract further mining investments and fully exploit Tanzania’s mineral deposits, including helium.

The Vision 2030 aims to lead to new mineral discoveries, enhancing GDP growth and ensuring the sector’s sustainability.

To accelerate the sector’s transformation, the government has increased the Mining Ministry’s budget from 89bn/- in the 2023/2024 fiscal year to 231bn/- in the 2024/2025 fiscal year.

Taking shares instead of cash is indeed a positive, especially with Helium One having over $11m in the bank.

However what is of far greater relevance is the £6.43 million (approximately US$8.2 million) fundraise for the BlueStar farm in via a direct subscription with Cynosure Capital at 1.09 and the fact they have held their shares.

They clearly think as I do that they'll soon be multiples of their entry point.

Pete the only two things they don't say are the two honest statements:

1 I'm a trader and want a lower entry.

2 I'm a gambler and have bet on the SP to fall.

Sensible posters will ignore the lies and deceit.

Tipranks summed today's RNS up perfectly...

This move follows the successful helium discovery in Tanzania, positioning Helium One as a strategic player in the helium market.

For further insights into GB:HE1 stock, check out TipRanks’.

Read that message carefully.

Tick tock.

ThegoodDrH the BOD's stated in their last Webinar interview they had been in discussions with both offtake and JV partners since last April, and interestingly Noble in North Rukwa have stated an offtake partner has already confirmed they would fund all infrastructure including the production plant and I'm sure the same would be applicable for Helium One, with the offtaker getting their money back through discounted helium.

Also, don't assume the SP will stay at this level for long. With drilling starting very soon in Colorado, approvals due in Tanzania and the release of the all important reservoir reserves, this will rerate sooner rather than later imo.

Thanks for posting. With the recent pressure on the share price is very important to focus on the positives:

•over $11m in the bank

•1 development well ready for Galactica, 6 more to drill with the 1st starting this month and the 6 to fund an additional 9, so all the US operations fully funded. Revenue to start from Q2 2025.

•ESIA approval expected soon for Rukwa.

•Mining License approval expected soon for Rukwa.

•Approximately 30 development wells for Rukwa.

•Production for Rukwa expected late 2025.

•Major with offtake and or JV agreement pretty certain upon approvals.

Lots to look forward to, and very soon.

blubay i know we don't know what they are. that's why i posted 'i would think' if everyone knew what they were i would have posted 'we know' the resources are..

but thanks as always for yet again posting the ******* obvious.

Considering the mean average recoverable for Tai alone is 4 Bcf I would think they’re looking at 10 Bcf for the Rukwa Project. That should equate to approximately $5 billion of revenue or $3.5 billion profit after extraction. An offtake partner would usually take 20% and with the government taking a 16% free carry and 50% of any profit my rough maths would still see Helium One having in excess of one billion dollars profit from the Rukwa project, with a maximum of 20 years to extract it. Whatever way you look at it Helium One would be valued at hundreds of millions of dollars.

https://www.technologyreview.com/2024/02/25/1088930/global-helium-market-semiconductors/#

Sussex Form 2 approval was on the 15th. They then have to give the land owner 30 days notice that they intend to drill so that’s a week tomorrow, although the land owner could waive their right.

I’m pretty certain they’ll commence drilling this month.

“We hope to have the license awarded in around 3 months”

They seem confident enough to me and leaving their rig hot stacked at Rukwa would back up the fact they believe approval will come this month.

https://youtu.be/s7T5h4qi28c?si=tOi-3RKDHpeeuwbN

I've said many times the production facilities at Rukwa will be fully funded by an offtake partner, which will be Linde in my opinion. To reinforce my view, have a listen to Noble...

https://youtu.be/ndzxEUAQlaI?si=MZYyt9e_I2mg2lsd