Member Info for JC01

Kaeren,

Great point and adds to what’s potentially known at Rudyard.

Wicks is ARPA-E Program Director for geologic hydrogen at the U.S. Department of Energy. His role is as the most senior U.S. government official specifically responsible for geologic hydrogen policy and funding.

The hydrogen research grants are specifically into serpentinization and ultramafic rock systems, which is exactly Rudyard’s geology. Wicks would have evaluated Helix’s assets through the normal course of his work. Whether he was at Rudyard or not, he almost certainly knows what’s there.

The Chimaera/Air Force program that just selected HEX is a direct operational expression of the policy architecture Wicks helped build. Clearly informed government level awareness of what HEX actually have.

Do you remember that Helix’s Rudyard drilling rig was prominent enough to be the cover image in a major Chemical & Engineering News feature on the entire U.S. geologic hydrogen industry in June 25. In the same article Wicks was quoted as the leading government authority on the sector. BO was quoted in that same piece. These people are clearly aware of each other.

Punter,

I thought the whole point of a chat room was for discussion. You seem to have missed the point when I said “ So speculating what might have been disclosed that we don’t know:- “

Clearly BO and the BOD ‘s know significantly more about Rudyard/Ingomar than we ever will hence they do have significantly more information to justify their submission.

In the spirit of discussion a few points about your criticism of some of my speculation comments :-

The “impossible to have internal resource estimates” argument doesn’t hold up. Every RFI submission of this type requires techno-economic inputs. That’s the entire purpose of the exercise. The Chimaera Fund explicitly stated the initiative would draw on “drilling cost data and subsurface measurements from active exploration programs.” You don’t submit drilling cost data without an accompanying production model. Whether those estimates are robust or preliminary is a separate question, but they would have existed.

On “a new field discovered” — that’s Ishan Sharma’s own words from the Chimaera press release, not speculation. The Chimaera Director used that phrase. Hence why I quoted it directly.

On selection criteria your own argument undermines itself. You say Helix was selected because they had hydrogen shows in the right area. But 30 respondents entered that RFI including national laboratories and university research groups. “Right area plus any shows” would have produced more than three finalists. Something in the submission differentiated them.

Your core point to get the helium flowing first, hydrogen is speculative is very reasonable investment advice. I agree but neither is mutually exclusive. The Chimaera selection doesn’t distract from helium production. It potentially re-rates the stock before hydrogen is proven, which is exactly how small-cap resource exploration works. The market prices optionality, not just certainty.

I’m not going to get into a back and forth on this and certainly not interested in point scoring on a chat room. However , calling it “a load of ballacks ” while admitting you’re heavily invested and simultaneously wanting Bo to prove up the hydrogen suggests you’re frustrated with the stock rather than any analysis.​​​​​

The more I’ve read the RP article the more significant the HEX selection becomes because much much more would have had to be disclosed than is in the public domain.

The RFI process attracted nearly 30 respondents and HEX was selected as one of three. That selection implies the Chimaera Fund/DAF evaluation team saw something substantive.

So speculating what might have been disclosed that we don’t know:-

-Actual hydrogen concentrations….

The public announcements have been deliberately vague so far “highly favourable geological indicators,” “encountered hydrogen.”

HEX almost certainly had to disclose actual gas composition percentages from the Rudyard wells. The hydrogen concentration number sitting in that submission could be materially higher than anything in the public domain.

-Flow rate data or estimates ..

The Chimaera release specifically highlights HyTerra’s planned well flow test as its key contribution. HEX likely supplied pressure data, gas column measurements, or modelled flow rate estimates from existing well penetrations. Any of that would be non-public.

-Reservoir extent and volume estimates …

To make a credible case for supplying Malmstrom AFB, HEX would need to have shown the hydrogen accumulation is large enough to be practically useful. That means internal resource estimates, even preliminary ones,that have never appeared in any RNS.

HEX would have also had to disclose commercial and operational data in particular the timeline to first production. The DAF has a hard 2030 deadline baked into the Congressional mandate. HEX would have had to demonstrate they could realistically deliver within that window meaning they shared an internal development schedule that isn’t public.

The strategic intelligence cuts both ways. You’d imagine HEX get a good understanding of the AFB volume requirements for Malstrom. What kind of delivery mechanism is required. The price range the Air Force is willing to pay that makes the techno-economic case viable for them. Other AFBs being considered beyond Malmstrom and McConnell.

The fact that the Chimaera team described HEX’s find as a “new field discovered” is telling. That’s stronger language than anything HEX has used themselves in regulatory filings. Someone on that evaluation committee saw data that justified that characterisation.

The hydrogen concentration is probably the single most important figure sitting outside the public domain right now.

Drop ,

A pointless uninformed suggestion about Inez production.

Bo’s consistent message on Inez helium is that the grade (1.2%) is the strongest in the field, the aerial extent validation is highly significant and the lower than expected initial flow rate was a function of deliberate test design rather than reservoir weakness. The upper Souris interval remains untested and is flagged as a meaningful near term upside catalyst.​​​​​​​​​​​​​​​​

He’s the best in the business , has a meaningful shareholding and isn’t going to raise money to re-enter Inez if sweet FA down there.

My thoughts on Edale reducing below 3%.

Pete,

No concern for me as Edale Capital LLP is a London based absolute return manager focused on European quoted equities.

Absolute return funds run long/short books and manage to drawdown limits. This means their position management is driven by portfolio level risk and NAV constraints, not necessarily fundamental conviction changes in HEX specifically.

Edale has been an active trader of this position, not a passive buy-and-hold holder. A reduction now may well be profit-taking or rebalancing rather than a conviction exit.

Edale dropped below 3% in June 24 then progressively built back up.

MLF,

We get a RNS on Monday imo the probability of a positive move on Monday is high especially after yesterday’s move lower. I’d expect it to be material rather than marginal, given the U.S. Air Force angle is genuinely novel for a small AIM explorer now entering production . The question is whether it’s a 10–20% day or something larger, which depends almost entirely on how aggressively management frames the commercial opportunity in the RNS language, AIM sentiment (Risk Off), profit taking, the “just a data provider read”.

I’d like to think the commercial opportunity will be emphasised by BO’s as is his quote in the Chimaera release was unusually confident for a micro-cap CEO. When that language is formalised into an RNS , with the regulatory weight that carries, it signals internal conviction.

This is strategically transformative rather than immediately financially material. The value lies in the independent validation of the hydrogen resource establishing HEX as the de facto local supplier for a legally mandated U.S. military energy security program and creating a credible path to a long-term, sovereign-backed offtake agreement.

This is the kind of catalyst that re-rates the story entirely. The financial payoff is downstream, but the strategic groundwork laid here is considerable.​​​​​​​​​​​​​​​​

Lufu,

Don’t disagree.

The next slingshot will be around 38p then the next wave to 50p 👍

Lufu,

Looks like my 40-46 being borne out and the geopolitical HEX premium in play as the market views a potential resolution with Iran on the horizon. Without news next week we head back into the 30’s regardless of helium prices !!

Frank,

I agree 100% and put that in my email to Ryan Neates 2 days ago. I was balanced , positive but didn’t sugar coat the delays.

I would urge everyone to be proactive giving feedback to the BOD.

They do need to know there is a vacuum to private investors on how they are going to progress the well programme this year. We are now halfway through April and Inez would appear not re-entered and still only 3 wells hooked up and money was raised June last year for 5 to rapidly progress production. Hence why so much hinges on Inez and the strategic plan.

Frank,

As an investor/shareholder you have every right to raise your concerns with the BOD in a balanced constructive manner. Be proactive . It’s not difficult to get emails or phone numbers. I have spoken and emailed the CFO Ryan Neates on a number of occasions as I have a meaningful shareholding.

Let’s not forget what has been achieved to date under the stewardship of Bo Sears basically on a shoestring budget controlling costs into production in a record time. Their cash raising has been exemplary so as not to overly dilute shareholders in comparison to other junior miners.

I cannot imagine that the BOD are not diligently working behind the scenes to get production into full swing as quickly and safely as possible. These guys know what they are doing .

Sadly we operate on AIM and have to daily deal with the dreadful shenanigans of the MM’s and some traders who are not LTH’s like ourselves. That being said anybody who has been in this share for at least 6-12 months has seen a handsome capital gain with more to come.

JH,

I’m certain we’ll find out soon enough 👍

JH,

I wouldn’t assume the trailer hasn’t left the site .

My thoughts I posted on the 15th April. We just don’t know.

The company staying silent for a while doesn’t necessarily mean nothing is happening. It often just means they are waiting for a milestone worth announcing rather than posting every step.

Social media via X is usually used for fast operational updates, while the market-moving detail is often reserved for an RNS or formal company announcement. That means “trailer on site” and “first trailer filled” are different events, and the company may choose to mention only the more meaningful one if it can be tied to production, transport, or revenue.

A sale or dispatch confirmation is the cleaner milestone because it demonstrates the logistics chain is working, not just that equipment is installed.

No news. Will be interesting to see if we hold 42p support or MM’s try to tree shake a few out. If we remain flat into the w’end is another good sign .

Lufu,

Absolutely agree.

I have no intention of selling 👍🎈

Span,

Agree. But we know the shenanigans of AIM so would only be a tree shake then reset higher. No concerns here once we get more meat on the bone. A lot hingeing on Inez results which still isn’t finalised. I’m hoping the AGM delay is to get these ducks in a row so we know the outcome then they can plan the well campaign

Lufu,

Hopefully the 42’s keep holding. They have so far 👍

I do have a slight concern we are trading on a geopolitical premium and once resolved we might get a shock drop into the high 30’s and then a new trading range up to the 50’s as long as we get Inez finalised and the well programme for this year.

We’re range bound 40-46 … Traders and market makers working it . No momentum to get above 47p … News driven by Iran War and any HEX news when it comes. We really do need to know the strategic plan here to monetise Rudyard.

The company staying silent for a while doesn’t necessarily mean nothing is happening. It often just means they are waiting for a milestone worth announcing rather than posting every step.

Social media via X is usually used for fast operational updates, while the market-moving detail is often reserved for an RNS or formal company announcement. That means “trailer on site” and “first trailer filled” are different events, and the company may choose to mention only the more meaningful one if it can be tied to production, transport, or revenue.

A sale or dispatch confirmation is the cleaner milestone because it demonstrates the logistics chain is working, not just that equipment is installed.

Jay,

The mechanics are largely in place . Vote in May, listing likely H2 2026, FTSE review potentially by end of 2026 or early 2027. The combination of forced index buying, unlocking institutional mandates, and a liquidity re-rating has historically delivered meaningful share price uplift for AIM graduates of this size, though the timing and scale depend heavily on gold price momentum and market conditions at the point of admission.​​​​​​​​​​​​​​​​