Member Info for rickmeister

There doesn't seem to be any reason why INDI don't want to continue as they have applied for the extension. As I have commented on previously there is provision in the licence for a revision of terms but this is largely in favour of the operator if the costs of extraction increase as the well becomes depleted. Whether the co. is trying to re-negotiate I have no idea, my best guess is this is just Indian bureaucracy. In the meantime the well is still in operation despite the current licence term ending.

Did this news take the BoD by surprise! Otherwise surely they should have waited until the news was out to exercise a fund raise. If not the BoD have got some awkward questions to answer.

Yep but most PIs don't use DMA themselves. I think that AIM is more susceptible to MM influence.

That is in essence correct, however, it is the MMs that determine the spread and sp. It does seem for some shares the MMs 'manage' both for whatever reason, whether that is to ensure their profitability, which is fair, or to 'help' certain shareholders, as some people argue, which would be unfair.

Roger65, you have quoted just what suits your opinion and not what she said following. With or without LB saying further finance would be necessary we all knew that. She goes on to say that the co. will be looking at project financing via debt, bank or bonds. This does preclude further placings, which I have said previously, but the licence, which requires a clear viability statement, if granted gives alternative options to just equity raise which has been necessary to date. I tend to the view that another equity raise is not required in the near term.

So half what it was a year ago and it's assets per share value. Not overly bullish. This company doesn't need to raise money by share dilution-can rely on debt and is income earning and profitable. Unless I'm missing something blindingly obvious with a Mcap at a P/E of just over 1 the only way should be up.

Have a look at their RNS record-they only post when strictly necessary. I think the last one was a response to to all the noise following the sp jump.

Fair points but the comparison has some anomalies. BS share price came off a high of .068 (currently .004), which would equate to a Mcap of circa $85m. They suffered negative flows at Voyager which was to be their maiden producing well and therefore had to switch to Galactica. This hurt the sp substantially and their options to raise money-hence the HE1 deal. In addition their projects are in the US but they trade on the ASX which may also stifle sp growth. Hopefully this will be good news for HE1 and their investment in Galatica. Time will tell.

This figure of $1b gets getting mention but no-one says were the figure comes from. In the accounts bank debt is listed as $28m and bonds $164m-total about $200m. There are substantial loans from the holding company but these are subordinate to the bank loans. Equally monies are due from Indus subsidaries. Shareholder's net assets are shown at $343m in the audited accounts.

I have checked the company's website and they report only one entity having more than 3% holding as copied here:-Names of Large Shareholders owning/controlling over 3% of the Company's Issued Ordinary Shares

Number of Shares held

Share-holding Percentage

Promoters - Gynia Holdings Limited*

151,237,108

82.66%

* Of this holding, 47,557,622 (26%) shares are held through Focusoil Inc., a wholly owned subsidiary of Gynia.

The Company is not aware of any other shareholder owning over 3% of the issued shares of the Company. Last updated on 16 February 2024.

Yes that's what I heard. The mining licence requires a viability proof along with other info. HE1 will need to prove to the government that the helium can be commercially extracted to get the licence. She said that when the licence has been granted and de facto commercially viable the the co would then look to project financing. The implication is debt or partner rather than equity raise. There's no guarantee that they wont look to another equity raise but not likely in the short-term. The potential income streams for Galactica should help with any debt financing.

Its been a rubbish day for shares all round. Top of the leader board, ORR, has only managed 10% up and even that with a 14% spread. The new labour government was right, it'll get worse before it gets better. Mind you that's all we've been hearing since about 2008.

InvestAce. Do you know how much cash HE1 has at the moment? In the last audited accounts they had £9.6m cash in bank. Since then they have raised £36m by my calcs, which totals around £46m. Looking at past accounts their cash burn is not going to get through that amount that quickly. The Blue Star farm-in is only a bit over £1m so my guess is that they have so free money for a while.

We are only buying into 50% of this asset-not the company. We have raised money for that and as the purchase price has been announced by Blue Star at $1.5m we raised more than the purchase price. BS have announced that the $1,5m will be used to fund drilling. Announcement herewith. https://www.bluestarhelium.com/wp-content/uploads/2024/08/61222441.pdf

For info, Blue Star shares are currently suspended pending an announcement-I assume HE1's acquisition of 50% of their Galactica Project. As BSs current MCap is about £6m, I assume we are not paying all the money raised in August on 50% of just one of their various projects. Well I sincerely hope not. I can't see a price for this asset mention in our RNS.

Not just the licence news, which looks low risk. After the unprecedented fall in the SP in April (based on no meaningful news) the BoD announce a strategic review, including how to unlock the untapped reserves that require fracking. As Indi don't have the experience in fracking I assume they will bring in a partner who does. This share is current trading on a P/E of about 1.3, extremely low. It has been much higher as is the industry norm. I for one will be holding to see how this all plays out.

£19m in the last 6 months-the last only 27th Aug. Not sure they need another fund raise now, surely they will want to see the SP rise well above this level before looking to raise again. If you time it right this share pays well.

20 broken comfortably.

Correct, 0.3% purity. I suggest interested parties also read Pulsar's accounts. New company, modest cash in the bank and substantial reported loss in Q2 2024. They have a potentially good asset but early days.

The frustration will be if this does come good the long term holders will only recover some of their loses and new traders jumping in could make some money. To paraphrase the old song 'its the poor old holders that get the pain and the rich traders that get the gain. lbjj does make a fair point but 4p in old money would just about see me right. At least the weather is good here in the West Country, so a bbq and a decent glass of something will mitigate the frustration that is BEM.