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The potential value of Rudyard is impressive if it achieves $80m pa revenue; if Ingomar delivers similar results, or better with 16,600 acres, together with commercial hydrogen, the final value of Helix could be exceptional.

Here's hoping the next results keep us on track.

Q4 / Q1 2026 production is quite a change from TAJ's interview on 27/01/25 when he said that production would be in the order of 12 - 18 months after FID.

I will be delighted if they can achieve production by Q1 2026, but there are significant milestones that must be achieved to secure production, including finance arrangements.

Based on say 5% He conc and a flow rate of 800Mcf/day @ a price of $500/Mcf with 350 days production per year, a well could generate $7m pa.

The EWT will hopefully deliver good results followed by a strategy to commercialise the resource together with timelines.

This must be good news for Blencowe.

https://www.mining.com/web/us-set-to-impose-93-5-tariff-on-battery-material-from-china/

I think you will find this is the link:

https://www.gasworld.com/story/end-users-unhappy-with-inflexible-helium-market-claims-pulsar-ceo/2161745.article/

"Our systemic epigenetic readouts showed consistent insights into JAVELIN Bladder 100 patient profiles, normally obtained through biopsies and complex gene expression analysis. This is a typical example of benefits that EpiSwitch technology has been offering our pharmaceutical partners."

Hopefully, Pfizer and / or other pharmachem companies will recognise the full potential of OBD's products.

Https://www.londonstockexchange.com/news-article/GEX/hussar-ep513-update/17121185

Permit Status: Westmarket Oil & Gas anticipates that once the further information has been provided and assessed then pursuant to regulation 13(1)c of the RMAR (Resource Management and Administration Regulations) DEMIRS will issue the requested drilling approval. Once approval has been granted, the Company will undertake repairs at the Hussar airstrip, access roads and begin to construct drilling and camp location pads together with water wells.

I have just been listening to the Sunday Roast midweek session and noted that Charles Archer believes GMET is furthest ahead when it comes to production. He also expects grant funding for Pilot Mountain this month (although he previously said it would be received in June) and advises that being part of the Critical Minerals Forum means GMET are in the inner circle. Target price by the end of the year £1.

The discussion about GMET starts at 4:29

https://audioboom.com/posts/8743977-12-for-2025-companies-on-our-radar-review-pow-gmet-cobr-ggp-amrq-groc-bzt-rmr-svml-mas

Ocelot - I agree; it is also my understanding that the location of the AAMP has been determined.

For me the article presents the view that Greenland is looking towards Europe, presumably because Europe has started to be proactive in terms of support. Hopefully, this will translate into meaningful financial support in the near term.

The attached video from Capital Briefs covers the increasing alignment between Greenland and the EU; in particular providing support to develop Greenland's resources.

https://www.youtube.com/watch?v=nqZ9jrN9J-4

Hazbeen - Agreed; it will be very disappointing if revenues do not exceed £100m pa given the benefits Steriwave have to offer.

In the short term, It will be interesting to see if non dilutive funding can be secured before Q4 2025, otherwise I suspect there will be concern about possible dilution. Confirmation of such funding is likely to improve the SP.

Elir71 - thank you for summarising key points from the Q&A session.

An intersting development announced this morning:

"In July, a team of geologists will visit some key sites of known graphite mineralisation outside of the Amitsoq project area in order to collect a series of samples. The potential for other critical raw materials will also be investigated."

Whilst it is quiet, I decided to ponder potential market share. In the annual report presentation, the potential market value was stated to be $10bn. Rather than focus on a value, I looked at the number of potential “Major Surgeries”; there does not seem to be a definition of this term and each country will view it differently. Using ChatGPT, I came up with the following numbers:

USA: 15-20m

EU: 15-20m

UK: 3m

Being conservative, the potential market could be 30m treatments per year. Predicting the rate at which Steriwave will be used is a matter of opinion at this stage, taking account of entrenched views on treatments and competition.

The cost of the treatment on 10/06/24 was stated to be CA$71 and on 15/05/25, the gross margin was stated to be 64%.

Since Mölnlycke are supporting the marketing /sales of Steriwave, their costs need to be considered.

If When the FDA phase 3 trial is successful, this could be a very profitable share.

I will leave it to you to do your own calculation, but I know what my valuation is and it is higher than the RBC price target of 55p.

I attach a link to GREENLAND MINERAL RESOURCES STRATEGY 2025-2029 launched on 14/01/25 (thanks to A-s-h-t-o-n for bringing it to my notice). The Greenland Government clearly have an aspiration to develop their mining industry. I am optimistic that funding support will be announced shortly; grants would be ideal, but I am taking a long term view of the mining and downstream processing. The key is to complete a DFS as soon as possible.

https://naalakkersuisut.gl/-/media/nyheder/2025/01/3101_ny_raastofstrategi/eng_greenland-mineral-resources-strategy-2025-2029.pdf

Restingpilgrim - I'm new to Empire so thanks for posting the interview link; it was useful

This is one of those opportunities that I wish I had picked up on earlier, but better late than never.

Also, thanks to PaulFG for nudging me in this direction

"Ondine Biomedical Inc. (AIM: OBI) announces that its expansion is gaining traction in Canada's private healthcare sector, with Cambie Surgery Centre, one of the country's foremost private surgical facilities, adopting Steriwave® nasal photodisinfection as the standard of care for orthopedic and plastic surgeries. This is the third private clinic in Canada to routinely use Steriwave before orthopedic and cosmetic surgery."

Slowly but surely, progress is being made.

"Georgina Energy plc is pleased to announce the publication of its audited results for the year ended 31 January 2025 ("FY 2025"). A copy of the full annual report and accounts can be found on the Company's website at www.georginaenergy.com and a summary is outlined in the Appendix."

MemphisGuy - you are correct when you say more membranes allows greater production and Bo confirmed that on 08/01/25, but I don't believe he expressed a view on the number of wells it could support. I was basing my calculation on the stated He output previously achieved; the production capability of the plant was confirmed in the half year report "with the acquisition of a Xebec PSA processing plant, capable of producing up to 50,000Mcf helium a year,".

This means production @ $500Mcf will produce revenue of $25m.

Re the SP, I am currently basing my calculations on the current projected income of $12m (3 wells @ $4m each), a PE ratio of 5 and exchange rate of 1.3; this gives an SP of 24.5p.

If Inez performs the same as the previous wells and can produce $4m pa, then this could move the SP to c32.5p, using the above parameters. However, a good result from Inez is likely to enhance the reserve so there could be an additional benefit to the SP.

Kaeren - you posted this yesterday: "..My intention was not to take a poke Broomtree but to get folks take on guesstimate of no of wells we require if resource vastly increased. "

At the moment, the number of wells that can be serviced seems to be limited by the capacity of the PSA plant, which has previously produced 48,000Mcf/yr; at $500/mcf that equates to revenue of $24m.

If each well can produce annual revenues of c$4m, the current maximum capacity is 6 wells assuming a flow rate of 2,000Mcf/day. If this flow rate is used then additional plant will be required. Alternatively, the flow rate could be managed to include extra wells (Bo seems keen to keep the rig busy).

Drilling extra wells will facilitate confirmation of the reserves and provide Bo with the opportunity to secure liquefaction capability.

It will be interesting to see if Pulsar apply to the EU for Strategic Project Status in the next application round which I believe is August 2025.

A reminder from the 30/01/25 RNS re Pulsars interest in the EU:

"Strategic Significance

Helium is on the European Union (EU) list of critical raw materials and while not an EU member, Greenland is a strategic partner to the critical raw materials initiative. Potential for a combined helium and geothermal energy operation has been identified and is being assessed for commercial production. Geothermal energy could be utilised for the helium production facility and as an alternative power source for the nearby settlement of Ittoqqortoormiit (located 7.5km to the north of Kap Tobin) which currently relies on diesel generators. Meanwhile produced helium could be exported to the EU."