Member Info for Saluc

Over the next 3 months, Blue Star/HE1 could potentially deliver:

Long-term helium offtake agreements

CO₂ sales agreements

Additional wells tied into the Galactica system

Yet the major catalyst for HE1 remains Tanzania. The key missing piece is a strategic partner and/or farm out agreement to help advance the Southern Rukwa project.

If HE1 were to secure either of these it could be transformational for the company and significantly change how the market values the business.

Still a bit unclear from the RNS, are TGR now effectively sourcing graphite from third parties, upgrading it, and then selling it on? Would be helpful to understand whether this processing is in-house or outsourced, and what sort of margins are being achieved.

With Harshad Poddar leading sales and Hemant Poddar on the advisory side, it would also be good to have clarity on whether any related party companies are involved in sourcing or processing, just from a transparency perspective.

Yeah that was all posted by the company in the CPR..

Vatomina - "Mining is currently being undertaken with no supporting (detailed) long-term or short-term strategic planning. This is considered a high-risk strategy, and this appears to have contributed to the reduced production performance noted by the Company for 2025 (YTD)"

Sahamamy - "The plan is uncosted and there is no accompanying schedule; however, the Company has stated that it has prepared an indicative cost estimate of between USD 5 million and USD 6 million for completion of the activities."

"No plans have been outlined for Montepuez and Balama Central, notably considering the geopolitical situation in the region."

I'd have a read of the CPR before taking a punt.

“Iran war cut off helium from Qatar, and shortages will start to bite in a few weeks, threatening chip supply chains that fuel the AI boom” - https://fortune.com/2026/03/21/iran-war-helium-shortage-qatar-chip-supply-chains-ai-boom/

A truly terrible frightening situation that will be hopefully resolved asap.

But for Blue Star, it couldn’t possibly be better timing to start selling into this market. Share price is already up 100% in the past 7 days. Very much looking forward to see how the market reacts to first sales RNS. Gla

“The Company has received correspondence in late 2025 seeking to recover sums totalling £923,843 plus interest in respect of alleged monies due in respect of unpaid directors' fees and remuneration from Mr S Poddar and Ms P Poddar. The Company has not accepted those claims, and has responded accordingly.”

“Pranagraf has denied all allegations and claimed that the Company owes it US$662,090 for services rendered, goods supplied, and business expenses.”

It looks unlikely an agreement will be reached out of court. It would be good viewing if I wasn’t invested. GLA

Any reply Jack10?

Are we going to be updated any time soon Bree11?

The Company has various counter claims including in respect of services that were never provided and for access to IT systems and data belonging to the Company which Pranagraf and Mr S Poddar have denied to the Group since Mr Poddar's service contract was terminated, and resulting additional expenses incurred, as well as balances owed by Pranagraf. These matters may proceed to litigation.

“The Company advises that it has secured new orders for deliveries in the period from April 2025 to March 2026 with a current order book standing at 5,780 MT at an average sales price of $940/ MT and continues work to grow its sales pipeline and optimise average sales prices.”

The average selling price may be realistic for your calculations but operating costs will probably be a lot higher than you stated.

Judging by the table at the bottom of the latest RNS I expect 2025’s production target to be missed.

Vatomina, Operating; ramp-up phase - “Primary producing asset, targeting nameplate by early 2026”

The office of Madagascar's President Andry Rajoelina has said an attempt to seize power illegally and by force is under way in the country.

Actually I think the most vital step is to have the plant running, losing days to weather is unavoidable but to lose over a months mining due to "upgrades" isn't helping to restore shareholders confidence shortly before re-listing. Long term holders would not be this accepting under previous management, the board evidently are able to raise funds but yet are unable to operate consistently. Not to mention being over 50% off their production target.

I'm also very much looking forward to reading the results to see cost per tonne and to see if cutting ties with Pranagraf was actually beneficial to the company, it seems as though the plant is in a constant need of repairs, parts and refurbishment.

If it was a disaster? Production has halted until mid October at the earliest, the board has had to put more money in just to stay afloat and the CEO position has just been brought.

Not one target has been close to being hit, if over 500t is produced in December I will be pleasantly surprised.

From the end of the month we can’t even hide behind the suspension of trading, we had the hope that we would be producing 1000t by the time of re-listing but it is now evident that will not be the case. GLA

Wildly missed production targets, burnt through £4.5M and a change of auditor.

GLA

When are we getting an update on re-listing Breee1?

When are we getting an update Breee1?

Dilution achieves two things, it raises the funds they urgently needed, and conveniently halves Shishir’s voting power. Two birds with one stone.

As for his brother, since he’s not officially on the board, there’s no obligation to disclose his participation, but it’d certainly be interesting to know.

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CD was on the board for 6 years. Current BoD have missed their first production target and now the accounts. It is easy to see similarities at this stage.

Bree1, I’m very much looking forward to hearing the board say they’re in talks with Tesla. Unfortunately, it seems you were the only one aware of this revealing investor call.

The U.S. cutting ties with Chinese supply is definitely encouraging, and I share your optimism on that front. But a claim as significant as discussions with Tesla really needs to be backed up by something more concrete. So far, no one else seems to have confirmed being on that call or hearing the same.

It’s hard not to view it as unverified speculation.