Member Info for HereforHemo

Cat relax, it's the weekend and we're another week closer.

Daffy it was but it has a separate approval process.

Woltan there's a very good chance.

I missed the ESIA approval which I also think will be RNS'd before the ML.

Toffers impossible to guess what the SP will be on the Mining Licence being granted as there will be a lot of news proceeding it, including the BlueStar farm in being approved, the drilling approvals (form 2), the drilling schedule and results (assuming some or all of the 5 Galactica and 1 Pegasus drills are completed in advance), and as you know I think the Feasibility Study will be released before the licence is granted.

All the above will have a material effect on the SP, do I'll wait until the end of November before making a judgement.

Esq drilling before the rainy season would explain why they included close to a million dollars worth of additional working capital in the BlueStar finance,

Just a further point. I know they were looking at deepening the Tai well down to the basement so I'd think they will do that next. However they can't do anything without the licence, but maybe you're right the licence will be awarded and they'll get that done between now and early Q1. Just a guess.

Esquimo that's a good question and one I've been grappling with. Short term the answer is easy, it costs far more to de mobilise it. Longer term, maybe in case the Mining Licence is fasttracked so they can move very quickly?

Toffers you are correct they'll be selling the helium at source. Perhaps I should have referred to a new road, if required as infrastructure. Anyway anything required on that scale will be government funded and recouped, in my view.

For transport infrastructure the government will sort, and recoup costs by putting an extra 1-2% on their free carry.

For the plant I think they'll go big to get tax relief for first 2 years of CAPX. If they go it alone, a bank loan at 3-4% interest and this route allows them to generate additional revenue if Noble are successful. Or a JV, offtake will see them funding everything and recoup their investment through discounted helium over several years.

Everything looks extremely positive to me..

Rio an excellent well balanced post.

For the BlueStar Galactica-Pegasus Project, although a couple of weeks behind due to the regulatory approval being put back, I still see them on track to have between 15-20 production wells in operation by the end of Q2.

With Rukwa I don't see any development or appraisal wells being drilled until after the rainy season, so we'll be revenue generating by the time we do. I see Mining Licence approval this quarter, allowing the JV with Tanzanian Government, offtake and or JV set up between this quarter and Q1, as well as commissioning of production plant.

For transport infrastructure, the government will

Blubay you may think I'm conflating whether they can start drilling as part of the deal but you are misunderstanding what a Form 2 is. It doesn't relate to whether they can start drilling, it relates to whether they are allowed to drill, and I would have therefore thought it was therefore pretty fundamental to the deal. Still who knows, maybe you and your mate are right and it'll be approved much sooner than I expect.

I'm not suggesting, I'm stating a matter of fact, despite you stating it is unlikely. Perhaps if you read the RNS:

Drilling on the Galactica Project expected to start Q4 2024, subject to Form 2 (drilling permit) approval.

You should maybe be aware that Galactica-Pegasus is bigger than just the wells that HE1 have agreed to fund. The funding that BlueStar are looking at has no bearing on the HE1 farm in, which is all that concerns me.

Bluebay personally I don't see the BlueStar deal being concluded until the 31st as I would have thought HE1 would want the Form 2 APD (application for permission to drill) to be completed, and they won't be received until 31st.

Toffers no I am not in the telegram group.

MCNol it seems to me my post has offended you in one of two ways. Either I have lied, which would constitute posting false or misleading information, or indeed I didn't lie and according to you I've posted something that is classified under 'inside information', which even with my simple mind I would think is illegal.

So rather than constantly whine, just report me to LSE and have me removed.

I'll check back later this week to see how you got on.

Surely the wisdom of going 'all in' on a share, or indeed having a diversified portfolio is based upon the research you have done and the information you have on your investment/s?

That's how I invest anyway. I have a handful of companies on my shortlist but nothing that's going to generate the returns this will.

But, that's just my opinion. If others think this is just an exploration company, is high risk, and is a red or black play, that's fine. Put your money elsewhere.

For someone like me who had faith in Lorna and went all in, all I can say is this has been an excellent day.

To all holders, sit back, relax..and wait. 😃

Cat with 5 form 2 (drilling permits) to be issued for Galactica-Pegasus next week, the conclusion of the BlueStar farm in, the drilling of 5/6 production wells in the states, Lornas conference where we may hear of the scale of Rukwa, the awarding of the Mining Licence, the set up of a JV with the Tanzanian Government, the announcement of an offtake and or JV partner for Rukwa and first revenues through production in the states in Q2, the MM's will have to work a lot harder to shake me from the tree. I've got my claws in nice and tight.

Just counting the days. Tick tock.

Who cares, they all live in the same green box.

Https://pubs.geoscienceworld.org/gsl/pg/article/28/2/petgeo2021-029/610750/The-principles-of-helium-exploration