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@blubay, thanks for that. Great summary.

It's been a while since proper news of our main focus so I just looked back through all RNS's as a reminder of where we are. As I understand it we're just waiting on the application result. In the 'Next steps' section of the last proper RNS we had this...

"Next Steps

Preliminary economic and subsurface modelling by the Company demonstrates positive economics with artificial lift, and what is anticipated to be in the region of twenty to thirty development wells in the production phase. The data continues to be evaluated by the Company's subsurface team and will be integrated into a Feasibility Study, which will form the Mining Licence application, and demonstrate to the Mining Commission of Tanzania the viability of the Itumbula Project. The Application will be submitted in the next two weeks."

I remember wondering at the time what that actually meant in reality. "20-30 development wells".

Who is funding that? Or are we funded for it? I can't remember.

Hopefully we'll have a positive answer on the ML soon. And then it's just what happens next I'm unsure about. Anyone have more clarity on that?

Thanks for the clarity. 👍🏼

Apologies if I’m reading last nights RNS wrong, but I got the figure there as follows:

Number and class of securities originally listed and the date of admission: 45,022,104 Ordinary Shares on 22 September 2023

Correct me if I’m wrong, but this figure is almost 6bn: 5,905,710,763

And this figure is 45 million: 45,022,104

No?

…that’s some dilution in one year.

And what finances the wells? Production of this one or something else?

There it is.

If this does get settled out of court, which is looking more likely than ever considering news recently of Rishi’s Covid profits from investments in Moderna, the election and other court failures. We can then add the Bird flu scenario on top of any re-rate. The MM’s know it changes the game completely for this company. And they’ve been smart to not just tie themselves to pandemic testing with Yourgene.

Obviously testing people are still awake and watching. They’re getting ready for the June build up.

WBAFC. Yes exactly. I can’t see NCYT putting an end to it at this stage. Especially as they’ve been so confident of their case all along. It’s also their reputation at stake.

Islandgirl, 19th April RNS:

“The trial hearing has been listed to commence on 10 June 2024, and finish on 4 July 2024. The Company expects the court to reserve judgment, meaning that the outcome of the trial will not be known on 4 July 2024.”

Not long until the pre trial review of a ‘very weak’ application.

“The court will also hear an application by the DHSC for summary judgment in relation to one aspect of its claim, as part of which the DHSC is seeking judgment to be entered for the full value of its claim. Having taken legal advice, the Company considers this application to be very weak with low prospects of success, and is confident that the court will dismiss the application. It is not known when the court will give judgment in relation to the application. It may be during or at the end of the Pre-Trial Review, or a short time thereafter.”

Amen to the eventual authorisation. 👍🏼

This is nothing new. She has stated exactly this previously in interviews, that they would be ordering spare parts and long lead items ahead of possibly revisiting Tai or perhaps something else. It’s just a matter of using this time to make sure they have the spare parts they need when they go again. What’s the issue?

It’s ISA New Year. Of course there will be a timely update to grab new cash.

Https://x.com/rickabright/status/1775574461233684652?s=46&t=noOIkuI4WzKmPss_1gWrPw

Nobody but the company can answer as to when, but I’m sure it will need to happen at some point looking at forward drilling plans. As I said, probably not long after good news on results and when the SP is higher.

@Legal, from finance RNS:

“The company led placing provides Helium One with sufficient working capital to progress its planning for the next stage of the work programme in Tanzania.”

‘Work programme’ is a little vague, but they are financed handsomely for now. I’d imagine the next raise whenever it comes will be an open offer as we haven’t had that yet. That’d be time to choose based on any new news. Which could be very attractive indeed.

He1 seem to like throwing curve balls.

I wouldn’t be surprised if we got another more positive RNS sooner than people think. Although it’s right to ‘take time to get this right” waiting until summer for news seems a ridiculous prospect. Especially when your company is pretty much the hottest stock out there. They’re not stupid and know momentum is everything.

Some have mentioned the convenient lack of Hydrogen detail. That could be next. Or some other development.