Member Info for Skippysb01

Drilling second well at Rudyard in April so news on that and many other things soon. It's not the first time things have gone quiet between news here.

Since launch we have never had to wait much more than 2 weeks for news.... so won't be long!

I’ll do my monthly baggzzzz hygiene post:

Don’t tespond to baggzzzz. You cannot win an argument with it. It is not here to debate. It is here to disrupt.

Ignore please!

These large, late reported trades have been going on since at least I first invested here, probably more than 6 months ago.

Nothing new. Nothing unusual. IMHO off exchange trades between a small number of individuals involved in the IPO and the placing. BUT nobody knows for sure no matter what they try to tell you.

For this company this is normal.

That's likely the answer then. I always thought the very small trades were free traders but I had not understood the context of the waiting 15 mins for the actual price. The free trade platforms won't care because they just add the fee % to the spread anyway. It's why these trades are always at the top and bottom of the spread.

If we had a day when there were no 1 trades then that would be worth noting. It remains a mystery.

Investing in this company isn't like getting you rush from watching a Tik Tok video. It will take time.

I'm not sure why anyone would think that the SP would rocket just on the back of what's happening with the Bluestar stuff. It's meant to drive a revenue stream that can support development costs in Tanzania. It looks like it will do that but we are talking a modest income stream and so the SP is reflecting exactly that.

The big potential moment for HE1 in what they do next in Tanzania.

Currently we have no update on the reserves, a mining license in offer rather than in place, no visibility of the development plan which must include funding. All of these things are required as a minimum to see the SP go to where we want it to go,

I reckon Bluestar is about 5% of the market cap. Could end up being more or less but seriously one well in Colorado is not the prize here.

DYOR - or even some research.

And apologies, I'm not picking on you Lnanch - could have put this on any of the threads today.

AGM hasn't been mentioned on here much. Only a week away now. I would expect to see an updated presentation with more details on production planning etc.

This was very much a 'nothing has changed RNS' that typically causes a downtrend in SP for an AIM stock. Traders taking profit off recent lows which was inevitable even if the news was better than expected.

It was known that the site visit would start in March

It was known that there had been lots of bad weather. The site is not brilliant for access anyway. Can be fixed.

Drilling application in May was obvious considering the site visit is only just underway.

So it's a wait but it's the same wait as it was already. You buy at these prices if you believe they will get the drilling license in during May.

The market cap is very low considering the potential size of the resource even though at this stage there is no permission to drill Hussar. It should move as they get closer to that and prove out the steps required. I will assume they get the drill bit turning and keep my small investment in until then.

My understanding is that the weather conditions this year were exceptional and rare.

I see Aimhigher has been send to the sin bin. Good riddance. I bet I'm not the only one who had a feeling about that one!

"no news for months"

Apart from the assay from Charles, and then you have a drill in April, oh and then there is the plant build and final acquisition of that new well.

Months.....

Good interview.

Production just around the corner.

I really like the bit about the new well acquisition effectively doubling the size of the company!

Flathead at Clink still very much in cope (after the grouse bonking season).

Just to note re LordWM's helpful note. The acidisation + the flow test was expected to take 10 days overall. Not suggesting that's a fixed number but that was what they said in the RNS.

The testing of the assay is the most uncertain factor for timelines. It can bet very quick but yes it's better to be patient and assume it will take longer than we would like, but hey we would rather a great outcome than a fast fail.

This is my assumption too.

Off book trades are completely legal though. It is allowed for 2 parties to trade without an MM in the middle as long as they follow the regulatory rules/have the licenses etc.. They are allowed time to report the trade to the stock exchange. Can't remember what the time allowed is but it's probably 24 hours.

These late reported trades have been going on since HEX launched. It's likely always 2 parties trading off exchange.

Of course, when the market spread is narrow - as it often is for HEX - it becomes impossible to identify if they are buys or sells. Frankly there is as much accumulation as there is selling.

The late reporting isn't typical for UK listed stocks although you do always get a few. It is typical for this company.

It seems to fit a pattern of a major holder having a relationship with the market that is not standard. Maybe a specific broker that doesn't interact in the same way as is standard. Honestly I don't know but I have always assumed that there is an off exchange arrangement for one or more of the placees/initial investors.

Kaeren. You are right. They certainly won't rush anything and they certainly won't IMHO want to talk about pressure or show videos of gushing well heads after the Amsden misfire.

I'm relying on what John Henry told us about the work starting 26th Feb. No news should be good news in that we haven't had an RNS saying that the well wouldn't flow. They could take several days over the acidulation but it's unlikely to be much over 48hrs IMO.

There may be some economies in the process because the well has been flow tested previously (for Amsden) although its a different section of the well.

Flow testing and assay testing are separate though. Both are fundamentally important. They can easily send an assay to the lab before completing flow testing is complete. if after a couple of days they have flow they will likely assume it's worth testing and send a sample, unless they have some form of limited testing on site that categorically tells them it isnt worth lab testing.

Recent testing of HE1's first Bluesky North American well have provided lab results in about 3 days.

Gas samples would have been sent some time ago unless they haven't got the well flowing. You can take the gas sample early in flow testing. It's the same gas at the start as it is at the end.

This is the nugget from the RNS.

‘Acidisation of the Charles Formation is expected to commence in mid-February 2025, depending on local weather conditions, with flow rate results available approximately ten days from the commencement of operations. Results of the flow testing will be announced alongside assay results of any gas recovered from the operation.‘

It depends. Let’s assume they were able to stimulate the well in 48 hours. They would then need to hook up for flow testing. They would take samples just as soon as they could whilst continuing to flow,test. So samples could be at the well already or even for a week.

All speculation on my part of course but certainly not concerned about lack of news at his stage.