He1 can hardly be described as 'purely speculative with a very low CoS.'
They knew in advance that Helium was there in abundance. The drilling operation aims to tap into the source. Their first drill didn't work, so now they need to move onto the second drill.
If we combine his message from the July interview whereby he said “we’re preparing to engage with off takers” (something to that effect) with his most recent comments on “if we were a big company such as Total we’d be investing millions in multiple drilling rigs right now” It’s possible that a sale of Helium One is on the cards.
Sure isn’t that the ultimate objective? i.e. the company isn’t going to stick around and turn itself into an extraction/distribution operation. So maybe the latest RNS is enough to attract the Off Takers already. Thoughts?
I hate to be a naysayer, but, the tweet could have been something of a quasi inspirational ****-into-the-wind "we may have found no helium but we still have our dreams." I dunno. I hope not.