RE: Did HE1 dictate progress in Colorado?1 Jul 2025 21:51
In HE1 words Blue Star have been driving the process, Not up to HE1 to say hey guys let's just stop for a few months while we sort a cash flow out and you go bankrupt! Anyway I don't think we have a cash flow problem and Blue Star likely worked out their end to the penny. If they can't keep their end up well they can hand it all over to us lol. But likely they would get a short term covering loan I would imagine if necessary.
The the planned processing facility at Pinon Canyon. will be in progress now, final design work, gas analysis and flow modelling, parts have to be ordered, built, tested, commissioned. Ties in all the wells etc. All takes time, months and not weeks. They are also reliant of Cimarron Midstream who are carrying out this work. Costs for all this would have been worked out well before this stage. I simply think they were both a bit optimistic in their time scales and thought so at the beginning. Drills went like a dream apart from one short weather delay, so they were lucky there. Helium finds were great. But now a lot of technical work and design has to be undertaken which couldn't start until they had all the wells done and final gas analysis and modelling done. If they can do all this before end of 3rd quarter I would be very happy. Depends if any hiccups.
As for Ruwka and the planning design, financing etc will be in the FS accepted by the TG as to the path to commercial Helium.
I think the BOD have it all under control and just not as quick as folk want. Can't control speed of TG for example. As said, that is just mining and always conspiracy theories around when there are perceived delays or lack of news and nearly always they are wrong. In Oil and Gas mining you have to learn patience or you would go bonkers. But in this day it is the "I want it and I want it now AIM investors" well, tough lol.............it is all in RNS how they are going to progress Colorado I doubt either company know exactly when be producing commercially you can only make estimate and see how it goes. Probably why slight difference between the 2.