Member Info for MCNol

Odd that certain people continue to post on a misspelt thread title of an asset that is so central to HE1...

In March 2026, the Tanzanian government awarded HE1 a 480km² Mining Licence. Under mining law, an ML is only granted when a company demonstrates a "technically and economically feasible" development plan. This represents a sovereign-level validation of the project's commercial potential.

he February 2026 Electrical Submersible Pump testing at Itumbula West-1 (ITW-1) achieved flow rates of 16,400 barrels per day (bpd) equivalent. While the gas-water ratio was lower than some projections, the peak helium concentration of 9.2% is an elite tier global result. In helium markets, concentration is the primary driver of commerciality due to reduced processing costs.

The commencement of a formal farm-out process to identify a strategic industry partner indicates that HE1 has moved past the "is it there?" phase and into the "how do we fund the facility?" phase.

@CrustyPete your post fundamentally misinterprets the company’s multi-asset strategy, incorrectly conflates two different continents, and ignores the fact that Phase 1 objectives have already been met...

A producer that hit its Stage 1 goal (6 wells + 24/7 operations) and is now raising capital to scale up and take advantage of the global helium supply deficit...

The "budget increase" is actually an investment in growth, not a repair of a mistake...

The initial $8.02m was never meant to build the whole field. It was a "Proof of Concept" budget designed to:

Build the Pinon Canyon Plant.

Connect the first 6 wells.

The plant is now running 24/7 and generating revenue.

The plan for the next 9 wells was always to use the profits from the first 6 wells to pay for them...

The budget wasn't "exceeded"; the company simply decided to accelerate the timeline...

By raising extra cash now, they can drill those 9 wells faster to take advantage of record-high helium prices caused by the Qatar supply shortage, rather than waiting for the bank account to fill up slowly...

The company is "buying a bigger engine." The first $8m worked, it turned the lights on. The new money is to scale up the US CO² liquefaction and protect the multi-billion pound asset in Tanzania while negotiating with a major partner...

All new gas plants go through a maintenance and optimisation phase where they run during daylight hours to test safety systems.

The RNS on 26 March 2026 confirmed the facility is now transitioning to continuous 24/7 operations. This is the final stage of "commissioning" and is happening exactly when the operator (Blue Star) and Helium One predicted...

Galactica is not behind; it is performing to plan. It achieved first gas in Q4 2025, completed its 6-well tie-in by Q1 2026, and is now moving to 24/7 operations. With helium spot prices surging due to Middle Eastern supply issues, the project is entering its revenue phase at the most profitable time possible...

Ok @Deep100 post here all day every day as you clearly know what you are talking about....(now that made me chuckle).

@CrustyPete You cannot be "behind schedule" on production for a site that was only granted a Mining Licence in July 2025. The current phase is about finding a Strategic Partner to fund the plant, not building it alone...

Don't mistake appraisal costs (like the ESP testing) for "cost overruns." The £5 million raised this week isn't to fix a "road build" error; it is a Strategic War Chest to fund the ramp-up of the US wells and maintain the Tanzanian licence while negotiating the farm-out...

The Board cannot give "explanations" about who they are talking to or what the deal looks like until a Heads of Terms (HoT) is signed. This isn't "hiding" information; it's protecting the value of the deal for shareholders...

The Board's "silence" is the standard procedure for a company currently shopping a world-class, 5.5% helium discovery to major international partners.

God gave you two ears and one mouth for a reason. If you believe I am involved in HE1 (@deep100) why would you not pay attention to my posts? No helping some people...

I have some grown ups to speak to, have a good night all genuine investors...

You are a grown woman behaving like a petulant teenager, grow up.

@Toffers, you dodged my question. No wonder you get so much abuse on here if this is how you behave when you sell up...

Yes, I am certain Rukwa is commercially viable

As you well know they cannot do that as they are in the middle of a Virtual data Room.

I guess Punter/TOC was right about you...

You did not answer my question....

@Toffers, I do not know what has got into you today?

I have defended you previously when others have attacked you on here. Was that a mistake or were they right?

They don't like the facts @Stan9, thats why they post their Chatbot drivel and attack genuine investors credibility.

Conspiracy theories now @Broomtree, hilarious...

I guess you know more than the Senior Analyst who wrote that hey @TheTripleStar...

OK @Toffers, I will "blame the company" for your hypocrisy and inability to control your emotions or indeed to post cogent arguments here. I will leave you with @Thetriplestar you deserve each other, have fun

You do you @Toffers but don't be a hypocrite and do exactly what you slag others off for.

You are responsible for your own behaviour @Toffers and that is what I am referring to.