Member Info for HereforHemo

You could ask why has the SP dropped, but why not ask...

Why has the SP risen nearly 300% YTD?

Two sides to every coin.

Andy don't rise to them mate, that's what they want.

Ignore, filter and sit back and wait.

Phenomenal achievement getting the Mining Licence application in on time!

The Mining Licence application process can take anywhere from weeks to 3 months, although the President of Tanzania is on record saying she wants them fast tracked.

It is now a Project that can be financed by banks, JV and offtake partners.

The Company has now submitted a comprehensive Mining Licence ("ML") application to the Ministry of Minerals ("MoM") and Mining Commission ("MC") for the southern Rukwa Helium Project which encompasses the Itumbula, Tai and southern prospective areas for commercial development

· The ML incorporates a detailed feasibility study for the southern Rukwa Helium Project incorporating detailed subsurface modelling and commercial development plan.

Exit day traders stage left with their tails between their legs.

Investors will look where this is at Christmas with two production areas to look forward to, one that will be truly globally significant.

Best sign off for today and let the lunatics take over the asylum.

ML for Itumbula Tai and Southern prospective areas. It's as big as I thought.

A discovery of 'global significance' means over 1 Bcf, probably a lot more.

That's revenue of well over $1bn at current Contract prices which is a minimum of $100m per annum over the 10 year licence period.

Or, listen to the posters who don't own a single share between them.

Makes no difference to me.

I'm with Pub in that it's a long term hold for me. However, lots of news to look forward to before Christmas.

Feasibility Study including monetary resource estimates for Rukwa.

Offtake and or Joint Venture partner for Rukwa.

BlueStar deal approval for Galactica-Pegasus project.

Initial 6 development well programme for Galactica-Pegasus.

ESIA approval for Rukwa.

Mining Licence approval for Rukwa.

Deeping the Tai-3 well or pursuing a new exploration/appraisal well.

All being well we'll have a finance package announced, probably a mix of debt, JV and offtake, and we have the chosen Facilities Management company building the new production plant for Rukwa.

Next year we have the initial 6 development wells coming on stream H1, and another 9 development wells to drill for Galactica-Pegasus taking the total to 15, generating revenue of approx $7m per annum for 5 years.

Hopefully revenues from Tanzania H2, two more licenses to explore in Tanzania in 2025 and a multitude of other leases in the states, with the potential to double the development wells for the Galactica-Pegasus project.

So long term hold for me. Ideally the above (I'm looking for over $100m revenues pa over the next 10 years) will be enough to get us off AIM and Ideally onto the main market.

That's my hope!

Blubay with no resource figures published you are right, we're left guessing hence the poor market response to date. However, although subjective in its own right, you don't say something is of global significance without good reason...

Lorna Blaisse, Chief Executive Officer, commented:

"This is yet another huge milestone for the Company and we are delighted to have successfully flowed helium, of significant concentration, to surface from both intervals during the EWT. The well was flowed naturally during the testing and based on the recorded flow rates, with the addition of artificial lift in the production phase this becomes a globally significant helium project in southern Rukwa".

Bonzo we are obviously guessing as to the price we would get for our helium but you are correct, I was initially looking at spot prices between $300-600 before realising that this will most likely be contracted to a single customer, and if that is the case the price goes somewhere north of $1000. Was a range of $1000-1600 but already that's increased to $2000 in places.

Lorna..god knows who Laura is lol

SM it very much sounds like it's what I've been saying for many weeks:

It's a commercial find.

It has high concentration levels

It has no hydrocarbons so it's 'green'

It is large scale, so Bcf x ???

Or as Laura succinctly put it:

OF GLOBAL SIGNIFICANCE

Broomtree whilst you constantly post subtle negativity you clearly don't understand mining in Tanzania. If there was the delay you talk about the Tanzanian Government would automatically allocate the licence to a local mining company, so when LB says the deadline is the 17th, then it's the 17th.

There will be no delay.

Crypto it's the 17th not the 19th. They said they would submit it before the deadline so it'll go in on Monday. The application will probably be done online so in my opinion we'll either hear Monday or Tuesday.

Despite all the shenanigans I remain confident that the Feasibility Study will contain very good news on all fronts.

AJ I would agree that either a JV or offtake partner may be included within the Feasibility Study as financial capability must be included within the production plan. It would make additional sense for a JV as one must be set up with the Tanzanian Government anyway in order that they get their 16% free carry.

Of course there's a reason and a commercial advantage for fast tracking, you elude to it yourself. It's probably a 12 month programme so the faster you approve it, the faster you can commission the production plant to be built, the faster it'll be delivered and start generating revenue for the company and government.

Starship mining licence applications can take anything from 3 weeks to 3 months to approve.

My guess is it'll be fast tracked due to the high visibility within the Tanzanian Government.

Nearly forgot my manners..thank you for all your kind words earlier. Much appreciated.

Juno With Hex having an unstable and collapsed well, I they are more likely looking over their shoulder themselves. But don't expect HE1 to rescue them, as with helium shows at 50 and 130 above background levels, as opposed to HE1's 14,000, I don't think it would be something that interests us.

Broomtree, you think there will be an imminent placing and it's a risky investment, who am I to disagree. Everyone's entitled to an opinion.

Good luck with your .85 buy in order.