Member Info for Jungmana

My own prediction is a fund raise will happen in May and how much? Minimum GBP 10 million. Operating in remote Tanzania is not cheap as HE1 has already spent in total approximately 50 million pounds exploring there.

Gla

Lorna should just raise at least GBP 10 million at once this Q2 so that the company is fully funded for the planned works in q3.

Carrying out an ewt , either deepening tai 3, or a new appraisal well at Itumbula, working capital should be funded by that amount.

Itumbula costs approximately GBP 5 million to drill ( drilling only and no 30 days ewt) Not sure how much ewt will cost.

The Itumbula drill happened in January therefore that £8 million was mostly used.

The current cash balance must be well under GBP 5 million as there was only 1 million remaining at the time GBP 4.7 million was raised recently.

Most of that will be spent on long lead items and we will for sure have another raise imo before the EWT in Q3.

All imho.

Worth a read For all helium investors

Investor ppt;

https://wp-helix-2024.s3.eu-west-2.amazonaws.com/media/2024/04/Helix-Exploration-March-24-Final.pdf

Https://twitter.com/HelixExp/status/1778362657113813139?t=fkphTPA0O7lN3_Ll8VaLew&s=19

Excellent posts ART.

More tr1, Oberon investment took approximately 14 million shares in the ipo

Good luck to you but it wasn't DM who.diluted he1 massively.

He left because was not successful with the drill and that's the risk of exploration. Lorna was the one that took the number of shares in he1 from about 500 million to 3.6 billion.

You can't pin that on DM.

50p here is GBP 60 million market cap. HE1 which made me a lot of money this year went from GBP 10 million market cap to GBP 100 million market cap recently and right now is at about GBP 50 million.

50/60p here is a realistic 6 months target imo

For now the company has raised more than enough cash needed for scoping study, drill appraisal well, drill a second appraisal well if they choose to and carry out feasibility studies .

Fully funded for all planned works for 2024.

About 12 million pounds needed for the production plant .

If you raise the money now when you actually don't need it yet you will have to issue 120 million new shares at 10p.

Leave it till about end of year when you believe the share price will be significantly higher say 60p . Raise at 50p and you will issue only 24 million shares. Far less dilution. Remember ceo and chairman together own about 12% of shares after recent ipo subscription and won't want to dilute too much.

Those who keep saying why didn't they just take all the GBP 22 million available now are missing this.

Another option available to them is raise thst money in other ways as made clear in the Crux interview. Bo said thst should not be a problem if they choose othe funding route for the plant.

Https://youtu.be/2uIlWZKSvYY?si=48sFxWcZnBSaEQ5W

An interview done today:

https://youtu.be/2uIlWZKSvYY?si=14pFbILV4IZfL7w8

Thanks a lot ART,

Am with IG and got charged the stamp duty. Been busy on the day job and could not call for an explanation.

Good luck yo us here.

Https://news.sky.com/story/ian-king-business-podcast-helium-and-ultimate-products-13111660

Https://youtu.be/3bITF1PKQjo?si=x3_9wbXVrdZp-7R_

Here is tge interview from yesterday if anyone hasn't seen it:

https://youtu.be/WPBVtIHacJM?si=bdO6Nf9w0w0dIPEa

Won't surprise me to see this a t 20p+ next week. The problem we have is some platforms especially US based ones still can't trade this.

Bo is well known there from what I gathered and a lot of hnw individuals there actually offered lots of money hence they had the £22m ipo subscription .

As more platforms join especially overseas based this will clear last of the usual listing overhang.

Load and sit tight I have done buying 200k shares at 10.7p average and Looking to add a final 100k once funds clear tomorrow.

Gla

Shear, some folks just don't do any research. If Bo and his team are your typical aim executive they would have taken the full £22 million available instead of £7.5 million. They are not the quick flip type and hold 12 % of the shares here. Bo actually invested his own money to secure these assets in Montana in 2023.

These lot have a clear plan , have done it before and will do it again.

It's the market cap that's important. £13 million right now with £7.5 million in cash is too low. Especially compared to he1.

Fully funded to carry a scoping study this quarter, drill appraisal well in Q3 and option of a second appraisal well.

Just costs $ 2.5 million to drill and carry out extended well test in Montana from their interview yesterday.

A few platforms still can't trade this but should all be done by tomorrow.