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Helium One has entered a definitive "value-inflection point" following the successful commissioning and start-up of the Galactica Helium Plant in Colorado on December 22, 2025.

This achievement marks the company's official transition from a speculative explorer to a revenue-generating producer, with first helium sales scheduled for January 2026 and additional growth from high-purity CO₂ sales expected in the first half of the year. This transition is complemented by high-impact activity in Tanzania, where the company has already mobilised a drilling rig and crew to the ITW-1 well in preparation for an Electrical Submersible Pump (ESP) test in early 2026.

This test aims to convert its massive 5.5% helium discovery into bookable reserves, providing a rare combination of immediate cash-flow stability from the US and world-class valuation upside from its flagship African assets.

Its all gravy from here...

Wow another good start...oh happy days ,is it too early for Fizz 🤔

We are witnessing the birth of a "Trans-Atlantic Helium Powerhouse." By securing first gas in Colorado this week, the Board has effectively built a "Financial Fortress" around the company; the January revenue from the Pinon Canyon plant doesn't just pay for offices—it provides the leverage to negotiate from a position of strength in Tanzania.

With the ESP pump now entering the country and rig crews already prepped at Itumbula West-1, the next few weeks represent a "Double-Header" of value: first, the transition to a debt-free, revenue-generating producer in the US, followed immediately by the potential to prove the world-class, 5.5% helium-grade commerciality in the Rukwa Basin. This is no longer a story of "ifs"—the pipelines are tied in, the processing is live, and the roadmap to the 3.28p analyst target is now paved with actual sales contracts rather than speculation.

Happy Christmas! 🥂

May I just say it is a pleasure to share this great week with fun positive people who hung in there through thick and thin and are going to reap the rewards for their tenacity and vision.

Its beginning to look a lot like Christmas 🎅🍻🇺🇸🏆

@Gus123

This is a common point of confusion from the December 15, 2025 AGM. The word "ring-fenced" was used in a very specific context...

When the Board mentions "ring-fencing," they aren't saying the money is trapped in America. They are saying the Risk is trapped in America...

The Board said the project is ring-fenced to protect us from US liabilities, but the profits are intended to support the whole company. Lorna has been very clear that the US cash flow is there to 'support investment requirements across the portfolio.' Colorado isn't a locked vault; it’s a cash cow that pays the bills so we don't have to dilute in Tanzania

@2reincarnated

...you have clearly not kept abreast of the facts or just do not understand so I will dumb the current position down for you...

Imagine you have a big piggy bank. For a long time, you had to keep asking your parents for pennies just to buy toys. That’s what "raising money" is for a company—asking people for pennies in exchange for a piece of their business.

In 2026, Helium One is trying to stop asking for pennies. Here is why they won't need to:

1. The Lemonade Stand is Open (Colorado)

Imagine you finally opened your lemonade stand. Before, you had to borrow money for lemons and sugar. Now, people are actually buying your lemonade!

First Sales: Starting in January, the company gets its own money from selling gas in America.

Paying the Bills: This money is like "pocket money" that pays for their offices and workers so they don't have to ask shareholders for help anymore.

2. The "No-IOU" Rule (No Debt)

You know how if you borrow a cookie from a friend, you have to give back two cookies later? That’s called debt.

The Big Win: Helium One paid back all its "cookie debt" in October. Now, every penny they make at their lemonade stand stays in their pocket. They don't have to give it away to a "bully" lender.

3. Borrowing from the Bank (Not Shareholders)

Now that the company has a working lemonade stand, they can go to a bank.

The House Logic: If you own a house, the bank will lend you money because they know the house is worth something. Since Helium One now has a "house" (the gas plant), they can get a bank loan if they need extra cash for Tanzania, which is much better than asking shareholders for more pennies.

4. Finding a Big Buddy (The Farm-out)

Tanzania is like a giant playground that is too expensive to build alone.

The Partner: Instead of asking for pennies, Helium One can ask a "Big Buddy" (like a giant oil company) to come play. The Big Buddy pays for the expensive swings and slides, and in return, they get to share the playground. This costs the shareholders zero pennies...

Something that hasn’t hit the mainstream "retail" boards yet, but was mentioned post AGM Meey and greet was the specific detail regarding the Joint Venture Commercial Committee.

While most people are rightly focusing on the gas flowing, the lesser mentioned development is the structure of how they are selling it.

The "Commercial Committee"

HE1 and Blue Star have established a dedicated Commercial Committee composed of US-based gas supply chain specialists.

This committee has been tasked with bypassing traditional "middle-man" aggregators. Instead of just selling the gas to a distributor who takes a 20% cut, they are negotiating direct-to-end-user contracts.

This is why the RNS mentioned "short-term contracts" for January. They aren't just taking any price; they are "spot-selling" the first few months to take advantage of the expected cyclical price firming in H1 2026 before locking in a long-term partnership.

Now thats clever...

Consider this, If the market sees HE1 generating even (0.1p) in profit per share, a 15x multiple puts the stock at 1.5p on Colorado alone. This gives you Tanzania for free.

1.5p isn't 'lucky'—it's the bare minimum valuation for the Colorado plant alone once the CO₂ stream is live. Professional analysts are already targeting 2.99p to 3.28p for 2026 because they are pricing in the Tanzanian Reserve Certification. You're betting on 'luck'; I'm betting on the January audit results...

@NoRNS

You're thinking like an explorer, but we’re now a producer. The 70% drop happened because we were funding a dream with dilution. That's over. First Sales in January mean we are now self-sustaining. The move from 0.4p to 3.2p doesn't require '3 years of slow progress'; it requires one successful flow test in Tanzania and six months of Colorado revenue to prove the model. The 'Break Even' for LTHs is a single Mining Reserve certification away

@BurnbankBrian allow me to explain...

Our "New Reality". We have a company that:

Produces a critical global commodity in the USA...

Generates cash starting in January 2026...

Owns one of the highest-grade helium discoveries in the world (Tanzania)...

Operates without any debt...

The "3.2p" target is no longer based on hope; it is based on the Reserve Certification that will follow the January ESP test...

We spent 2025 building the engine; we spend 2026 driving the car. The debt is gone, the gas is flowing, and the first checks arrive in January. The 'strange math' has resulted in a producing global energy company with a 50% stake in a 12-year asset. Now, we use that income to unlock the multi-billion pound prize in Tanzania 📈

*Rukwa..

@SleepyOwl from yesterdays RNS

"Blue Star has established a commercial committee comprising board members, key US executives and, when required, operational specialists across the gas supply chain. The committee is supporting both short and long‑term offtake planning and is engaging directly with a wide range of buyers and end users."

Not a Research Note PubCrawl, just a mention in their morning update regarding the RNS...

Glad you found your Christmas cheer @CrustyPete . All to play for now, what a great year we have ahead...

Happy Christmas Toffers, have a Hot Toddy, that always helps with Flu x

Apology would be nice Blubay?...

This is a very nice rise considering it is Christmas week and a lot of people are off or away....📈🥂🧑‍🎄🚀🎈

Market Makers late to declare this morning, just JBER at present 35/45....