Member Info for MCNol

49m shares at 0.68...News?

As we have preciously considered. Are the 'Investors' going to work against themselves by diluting the SP. I can see why they have forward sold and banked that cash, to continue to do so at this price makes no business sense to me. I can see a scenario where they convert at key milestones significantly above todays SP.

There is a possibility that they will in fact re-negotiate funding when ESP results are established and move to a JV or takeover situation. This is not the time to jump ship IMO.

It could take until next week, but there is a lot of news pending. Commencement of ESP appraisal, ML ceremony, Galactica, who the 'Institutional Investors' are? I could cite more...

This will move fast from these values on good news.

If you look from the 15th when the conversion notice was served you can see that significant forward selling has occurred. I do not think the overhang has much further to go.

Todays activity is as result of the admission to AIM of said shares.

The note was converted on the 15th according to the RNS. Look at the volumes since then, this has been forward sold and we should see a change in altitude over the coming days.

I suspect good news should assist the MCAP. After all we have had 11m GBP more than we did 1 month ago and we can progress on both Galactica and Rukwa.

Blubay, no-one cares Luv, you were being tedious on a daily basis and everyone was sick of it. In fact you constantly implied they would convert ALL shares at once. Maybe you will stop doing that now and listen for a change instead of patting yourself on the back?

How many will be taking advantage of any dip today, we may be lucky enough to pick up a few more shares on the cheap?

It looks like the Investors think there is profit to be made by holding 1m GBP in shares at 0.50 GBX and only got them at 0.04 GBX premium to the PI offer. Nice…

Https://www.londonstockexchange.com/news-article/HE1/notice-of-conversion-of-advance/17190018

Https://geoexpro.com/successful-near-field-helium-exploration/

Https://inafrika.co.tz/helium-on-the-horizon-in-rukwa-as-tanzanias-first-dedicated-helium-mining-licence-lands/

Exactly that, the fewer shares they need to convert to get their money the less dilutive affect.

I agree Pete, that is why it gets so irritating when this board gets cluttered with people who do not know what they are talking about stating potential VWAP conversion prices and short timescales. Maybe Blubay will stop doing that at some point?

OK so you are being obtuse...

'Phased development plan

Helium One is proposing development of the Itumbula discovery in phases,

with initial 5 development wells being brought on to production using an Early

Production System (EPS). The next phase of 15 wells will ramp up production

materially through a Central Processing Facility (CPF), with a further 46 wells

required for the full field development.

The EPS is conceptually similar to the full development, but with lower initial

capex outlay. Production wells will be tied back to the EPS, where produced

fluids will be processed into sales helium for export, and wastewater for

disposal, with waste gases vented on site. The EPS is assumed to operate for

six months before the full development project is commenced. The CPF will be

of larger scale and will be able to handle substantially greater fluid volumes'

Blubay, stop being obtuse. Read my post which is copied from the analyst note...and the RNS 18/07/2025.

Once the figures from the 5 wells using the submersible pump are known financing will be forthcoming. My opinion formed by speaking to various people is that the Institutional Investors wanted the figures firmed up as this is a unique Helium play before further financing.

Deep, the conversation was about having the finding now to complete the ESP and 5 wells in Itumbula, not historic chat about what happened 18 months ago.

As we all know production wells are cheaper to drill than exploration. We are also funded for the Early Production System which is modular and can be tied into the subsequent CPF.

The 1m from the WRAP is for day to day activities.

From the RNS

'The Advance will be used to fund ongoing operations on the Company's projects in Southern Rukwa, Tanzania and the Galactica-Pegasus project in Colorado, USA, as well as providing general working capital As follows:

Tanzania

ESP work programme £4.0 million

Annual ML Fees/G&A £1.0 million

USA

Galactica development £4.5 million

Total £9.5 million '

https://polaris.brighterir.com/public/helium_one/news/rns/story/rm76g5r