Member Info for Laura2022

Big mover soon

But hes taken it on and got 40% control?

Thanks NU

To take on £5mln CLN seems odd

Punter

Can also sell 40mln at above bid

NU

What do you think here plz

Seems a very important juncture

Thanks Wim

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A helium shortage could be the next Hormuz headache

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Mischa Frankl-Duval

PublishedMAR 27 2026

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Big states like the China and the US used to think they had a near-monopoly on ruinous economic warfare. Recent events have shown how wrong that was.

Here’s Edward Fishman, senior fellow at the Council on Foreign Relations — and author of a book on financial warfare and economic “chokepoints” — speaking to Soumaya Keynes on the FT’s Economics Show podcast:

The most important geoeconomic story of 2025 was China’s embargo on rare earth minerals . . . [which] totally changed the conversation . . . And I think the most consequential geoeconomic story of 2026 so far is Tehran’s use of the Strait of Hormuz as a choke point.

So in both this year and last year, there’s actually been a US adversary that’s used a choke point against the United States. That’s been the key story, and I think it demonstrates that today’s age of economic warfare is not unipolar.”

The main US tools of economic warfare has primarily been financial: sanctions, export controls, and tariffs. Iran’s tools are physical. By in effect closing the Strait of Hormuz, it has ensured that a host of crucial things cannot get to where they need to be. 

Another difference: where US measures tend to be reasonably targeted — even if some of the targets have been silly — Iran’s closure of the strait is not. Fishman calls it a “geoeconomic cluster munition.” As a result, it is causing major problems for the global economy.

The first and most obvious vector is oil prices, but as Fishman points out, a third of global fertiliser also travels through the bottleneck. Farmers across the world are already suffering as the price of those nutrients rises; food prices will rise along with them.

Then there’s helium. It turns out that the Strait of Hormuz is also a major chokepoint for

Helium producers up 100-400% in last 6mths

Larger buys last 1hr

Potential gross value of ~ US$331 million ($300/Mscf)

· Establishes Quantum as having one of the largest independently verified helium portfolios among London-listed helium companies

Also

At £11mln cap QHE

Https://www.bbc.co.uk/news/articles/c4gjxv5g19no

I've therefore added more to add to those bought at 0 37

I posted this 5 weeks ago and now updated

QHE Market cap £11mln

The oil revenues will be double in 2026 as oil now $100+ rather than $50 for their 2025 revenues :

This integrated approach allows Quantum to advance its helium portfolio while maintaining financial discipline and operational momentum. This revenue contribution, combined with strengthened oil prices, further enhances the financial resilience of the Company as it progresses towards helium production.

Funding of c £3mln

Assets value $300mln

USA based helium assets

Helium spot prices up 50% in February, and further still in March

Helium (Microchips)

A third of global shipments of helium gas normally come from Qatar and pass through the Strait of Hormuz, external.

It's a byproduct of the production of natural gas and is used in the manufacture of semiconductor wafers, which are then processed into the microchips used in computers, vehicles and household appliances.

Helium is also used to cool the magnets in Magnetic Resonance Imaging (MRI) scanners used in hospitals.

Sector comparisons

HE1 £90mln

PLSR £219mln

HEX £60mln

Asset highlights

- USA based assets

· Sproule ERCE estimates 2U gross recoverable helium of 0.97 BCF at Coyote Wash

· Combined with Sagebrush, Quantum now has 1.104 BCF gross (828 MMscf Net) 2U helium, all independently evaluated. 

· Potential gross value of ~ US$331 million ($300/Mscf)

· Establishes Quantum as having one of the largest independently verified helium portfolios among London-listed helium companies

· Sproule ERCE also identifies up to 750,000 barrels of potentially recoverable oil at an Ismay prospect with three potential well locations.

Funding

Carl Dumbrell, Executive Chairman of Mosman Oil and Gas, commented: "We are delighted with the strong response from our retail shareholders, whose continued support and confidence in Mosman's plans has resulted in a fully subscribed offer. Alongside the recent £1.67 million placing, this brings total funds raised to £2.17 million raised

together with the current (as of Nov 2025) cash balance of approximately £1.2 million

As of Nov 2025  when name changed to QHE they had £3.3mln cash

In early 2026 they signed a lamdmark licence/ funding deal with the Bureau of Indian Affairs (BIA) whose land the assets are on.

Uses of helium

Helium is a vital resource across the technology, science, medical, space exploration and manufacturing industries. It is widely regarded as a mainstay of the digital revolution given its importance in a range of high-tech manufacturing applications.

Helium demand

Global demand is estimated to be around 6 billion cubic feet (Bcf) per annum, with China alone importing 1 Bcf a year. Annual demand expected to increase from 6.0Bcf to 8.5Bcf by 2030, with a current global import growth of 10% year on year (AKAP Energy, 2024).

Iran situation

About 50%  of global helium comes from areas affected eg Qatar as Qatar is als

Our core business is based on a portfolio of many hundreds of valuable cases ― a portfolio we expect to produce more than $5 billion in cash proceeds over time and that produced more than $1.2 billion in cash in just the last two years. We calibrate our commitments and deployments to new business based on our cash on hand ― which today exceeds $700 million ― and our expected cash generation from the portfolio. We have always presented the portfolio on an ex-YPF basis, and we have never relied on cash proceeds from YPF to fund or grow the core business. The core business is healthy, growing well and has produced consistently high asset returns.

"While the YPF decision will have a negative non-cash impact on the GAAP carrying value of the YPF asset, it will have no cash impact, and our core business is unaffected. With our significant liquidity we remain well placed to continue investing in and growing our core business, exploiting our market leadership role.

17 billion shares and £350,000 cap

Totally inept mgmt over years

Response from Co

Opening 45% down

Costs continue to be carefully managed, however it is anticipated that the Company will be required to secure further funding prior to the publication of its annual report and accounts for the year ended 31 December 2025. Further updates will be made at the appropriate time.

 

The incurrence covenant is potentially a problem -the $400m/6.25% notes are due April 28 which means to avoid going concern risk they need to be refinanced next year (and as of todays debt cost at 2x the interest cost) - but can they incur new debt?? Looks like a run off could happen - but the share price ex YPF appears to still be at a material premium to book

Christopher Bogart, Burford Capital's Chief Executive Officer, commented:

"We had a terrific 2025 for new business, with new definitive commitments up 39%. Portfolio modeled realizations1 increased $700 million to $5.2 billion at year end. In the part of our business where we have less influence - case progress and realizations - we brought in a substantial amount of cash, but our results were impacted by extended case durations and other unrealized fair value adjustments. The quality of the portfolio remains high, and we believe the future is bright in terms of growing the business and the potential for asymmetric upside value for shareholders."