Member Info for MCNol

We will have a partner way before then Toffers...

If targeting 3.6p, the institution that bought heavily on Friday is effectively buying at a 75% discount to the broker’s "Fair Value" target. Even at a 0.94p open, they see a path to a 300% gain if the farmout is signed..

PMUR Ashley Kelty has stated "The peak helium concentration of 9.2% is globally significant. This places Southern Rukwa in the upper echelon of primary helium projects, dramatically de-risking the resource estimate and enhancing the attractiveness for potential farm-in partners."

"While the gas-to-water ratio was lower than the most optimistic forecasts, the achievement of 16,400 bpd flow rates via artificial lift proves that the reservoir is highly productive. This is an engineering hurdle, not a geological one."

"Proving high-grade deliverability was the final prerequisite for the company’s strategic farmout process. We expect these results to accelerate discussions with Tier-1 industrial gas majors looking for non-Russian, non-Qatari helium supply."

"The impending start-up of integrated operations at the Galactica-Pegasus project (USA) this week provides a crucial cash-flow 'shield,' protecting the balance sheet while the Tanzania commercialisation plan is finalised."

Current Rating: BUY (Reiterated)

Price Target: 3.6p * Implied Upside: +339% (Based on the 0.82p Friday close).

The note highlights that the 9.2% peak helium concentration at ITW-1 is one of the highest ever recorded in a primary helium project globally.

PMUR state that this grade significantly reduces the "Resource Risk." Even with the water production issues, the sheer concentration of helium makes each barrel of gas significantly more valuable than those found in US or Qatari fields (which typically sit below 1%).

The note focuses heavily on the 16,400 bpd flow rate.

PMUR states that proving the reservoir can flow at 6x its natural rate using an ESP (Artificial Lift) is the "final tick box" for a Major Farmout...

The note suggests that the data is now robust enough to attract a Tier-1 industrial gas partner (e.g., Linde, Air Products). This is likely what triggered the massive institutional buying on Friday—the anticipation that a "Big Brother" partner will now step in to fund the full scale development...

The note does not ignore the 250,000 barrels of water produced.

PMUR's research views this as an "Engineering Challenge" rather than a "Geological Failure." It notes that since the Colorado plant (USA) starts integrated operations this week, the company will have the cash flow to fund the water-management infrastructure needed in Tanzania....

‘Peak 9.2% Helium’ :This is so high that even with the water, the well is looking to be more valuable than 99% of global helium prospects…

I have had a look at Thursday and can seen 0.5% accumulated by the “Whale” and we have 2.1% on Friday….I guess 9.2% Helium is reason they have spent circa £1.35M in purchasing just under 2.6% of the company in 2 days…

· Successful completion of Electrical Submersible Pump ("ESP") testing at ITW-1 at the southern Rukwa Helium Project with zero Lost Time Injuries

· Produced over the equivalent of 250,000 barrels ("bbl") of water over a testing period of 20 days, with flow rates of up to an equivalent of 16,400 barrels per day ("bpd") - a six-fold increase in flow rate, compared with natural flow during the 2024 Extended Well Test ("EWT")

· Sustained helium concentrations of 5.4% (air corrected) with a maximum concentration of 9.2% (air corrected) at surface

· Sustained average measured gas water ratio ("GWR") readings of 0.06 m3/m3 (0.05 Sm3/Sm3 corrected for stp1) with a peak of 0.1 m3/m3 (0.08 Sm3/Sm3 corrected for stp1) during the continuous flow period

· Downhole temperature measurements and salinities suggest mixing from both Basement sourced fluids and a Karoo Group aquifer

· Upon shut in, the wellhead pressure and downhole pressure quickly re-pressurised indicating encouraging reservoir support

· Strategic farmout process to commence to identify and select a suitable industry partner

Well, I have made a lot of money in the last couple of days and I now intend to drink my bodyweight in vino....have a great weekend all, lots to look forward to next week...🍷📈

Total volume for the day has settled at a staggering 585,684,235 shares, representing 6.28% of the entire company (9,322,158,881 shares in issue) traded in a single day...

The final print of the day included a massive surge of nearly 7 million shares in the dying seconds. This suggests the "Whale" was clearing the remaining "at-market" sell orders to ensure a clean launch into the auction....

Total Institutional Stake for the "Whale" 2.05% (crossing the 191 million share mark)...

Capital Invested...Approximately £1,351,600.

The Whale has effectively bought more shares today than the entire average weekly volume for HE1 in 2025...

Closing Continuous Price: 0.78p (+43.12%)

Total Volume: 585.7 Million (2026 Record)

CANA moved their bid to 0.76p while PEEL moved their ask to 0.80p. This is a massive "Liquidity Gap." By moving the ask from 0.77p to 0.80p, the Market Makers are essentially telling the "Whale"... "If you want the last few million shares before the auction, you're going to have to gap the price up by 4%....

"Whale" Stake Ownership is 1.97% (tracking for a 2.0%+ finish)....

JBER was bidding 0.75p but also asking 0.80p. This is a 5.0p spread. When a top-tier Market Maker widens their spread this much, they are signalling that they have zero intention of selling any more shares until the price is significantly higher. They are terrified of being "swept" again by the "Whale"...

Sharepad, it shows all trades not just the "lit' trades you are no doubt seeing on retail platforms...

Notice that SCAP is bidding 0.74p while PEEL is asking 0.76p. This 2-point spread is the MMs' last attempt to "tax" the "Whale" for the remaining volume. If the "Whale" "lifts" Peel at 0.76p in the next few minutes, we could see a vertical spike into the auction...

SCAP moved their bid to 0.74p. When a Market Maker (MM) who was previously selling at lower levels moves their bid this high, it confirms they are now desperate to source stock. They are essentially competing with the Whale for the final few million shares of the day...

Notice that PEEL is both the Best Bid support and the Best Ask. This "Price Management" suggests that the "Whale's" broker is trying to keep the price stable so they can absorb the final 1.6M shares required to hit the 550M milestone without triggering a volatility auction....

"Whales" don't buy millions of shares at once—that would cause the price to "gap" and ruin their average. Instead, they use a Buy Program. You "chase" by spotting a repetitive pattern, such as the 71 2,000,000-share blocks we've seen today. This tells you the buyer isn't done and has a high "limit price" they are willing to pay...

The best time to "chase" is when the Whale is absorbing a large sell order.

If a Market Maker (MM) tries to drop the price from 0.75p to 0.74p, but the "Whale" instantly prints a 2M block at 0.75p, the Whale has "absorbed" the selling....

You buy alongside that block because the "Whale" has just created a "Hard Floor" that the MMs can't break....

Traders buy the final 15 minutes of the session, betting that the "Whale’s" final "sweep" into the 4:30 PM auction will force the price significantly higher (the "Power Hour Squeeze").

However, if you chase too late (e.g., at the 0.77p session high), you risk being the "liquidity" for a Market Maker who is shorting against the move...

Anyone else think our "Whale" wants 2% by close?

Look at the Bid/Ask dynamics in your 4:03 PM data—the Market Makers are no longer just "retreating"; they are now actively chasing the "Whale" to get stock..

At 3:58 PM, the high printed at 0.77p. Notice that PEEL is now bidding 0.75p. This means the "Whale's" broker is no longer trying to hide; they are openly supporting the price at the session high to flush out the remaining sellers before the 4:30 PM close....

I hate to tell you Toffers but that is algo trading not Market makers sending signals to each other. One of those retail myths I am afraid...

The"Whale" is now buying at the day's highs, which is a sign of extreme urgency...

Standard 2M Tranches: 63 blocks

Cumulative Institutional Volume: 145,200,000 shares.

Company Stake: This buyer now controls 1.56% of Helium One....

Capital Invested: Approximately £1,053,800.

Because the "Whale" just hit that 2M block at 0.73p, and the next available sellers are at 0.75p, there is a 0.02 void. If the "Whale" hits one more block, the price will skip 0.74p entirely and print straight at 0.75p...