Member Info for skittish

Part 2

cont/...

So I would surmise that EPI were engaged by TPDE/PURA to design a 2D survey for Lake Eyasi and that the 2D paper published in March 2023 contains the plan of the actual 2D survey carried out in July to October 2023.

Combine the plans, and provided they stuck to them then at least part of one of He1's Eyasi licences has been 2D surveyed within the last couple of months, hence last weeks agreement.

https://www.flickr.com/photos/194934344@N06/53274349179/in/dateposted-public/

Nobles areas have also been partly surveyed, but no agreement with them?

And going back to one of my fairly recent posts we carried out around 4km of 2D survey (by accident?!?) on the block directly to the east of Itumbula, which we all thought was owned by D3Energy/Kidunda, but we now know is owned by Pulsar Helium of Minnesota, whose directors are the original founders of Helium One.

Any agreement to share with them?

So more manoeuvering behind the scenes, and whoever wanted that Eyasi agreement certainly wanted to get their skates on, even though a deal on anything takes ages and ages in Tanzania.

Just for completeness latest Sentinel from Itumbula 13-10-23 (L) and 18-10-23 (R), still reckon it will be a couple of weeks before it will be complete.

https://www.flickr.com/photos/194934344@N06/53269242752/in/dateposted-public/

Meanwhile we patiently await Tai-3 results...

BVI registered company, therefore UK law does not apply.

It makes a difference.

We'll never get a TR1.

You have to rely on the company share issue page, they updated on 19-9-23 with the new amount of issued shares but didn't update the % held. It is all pi's anyway, no ii's and that is partly why the sp is so low, just a traders share atm, despite best efforts of some!

Bit of a long shot - but one Stephen Ball was Global Lead Partner at KPMG between 2009 and 2020.

Hedley Clarke was at KPMG probably around 2005- 2010ish, although no precise dates are given in his biography.

Either way between Labrum, Clarke, Ball and Hemming they have amassed around 45% of the shares by low level but persistent buying over the last couple of years, and never spiking the share price much above 3p - 4p.

Can't help feeling that there is a bit of a pressure cooker situation brewing, but if moved any slower it would stop - glacial in every sense of the word.

That Hydrogen Dioxide is very tricky stuff. Can kill very easily if not handled properly.

People just don't realise.

But I expect Noble will be very vocal once they get going, surprised we haven't heard from them yet.

Let's just hope that they don't hit that Hydrogen Dioxide stuff, eh?

Dai - no, not that I can see.

But the same names tend to crop up quite often, a bit like shuffling a pack of cards. Some ventures sprout wings, others do not.

As Pablo says some go back years, so I guess the movers and shakers shuffle along as a bit of a pack.

Saint Lorna is an outsider.

Tone is encouraging, but execution sloppy.

Refers to first helium well Tai-1 being drilled, then He1 being worth £59M, whereas, as long suffering shareholders will know it is more like £46M.

Values Noble at $A77M whereas it is A$64M or £33M.

Pablo, indeed that is yet another link!

How about this one

https://www.flickr.com/photos/194934344@N06/53253825249/in/dateposted-public/

IS and Neil Herbert both on the board of a company called Tadeen International Ltd from 31-3-2023.

Tadeen looks like it was fairly dormant, although initially may have been Tz focussed. It now appears to be looking for minerals in Morocco, presumably not helium, but the registered office is the same accountants from which Kidunda and Volcanic Minerals is operated and from where Pulsar Helium has subsidiaries.

I'm not suggesting anything untoward, but many of the movers and shakers in the helium exploration world would appear to know each other, at least well enough to join the same board of directors at the same time.

And Neil Herbert is resident in Portugal.

That is the answer to a previous teasing question.

Anyway this next week or two could get really interesting.

And also, whatever is developing at Camp Rukwa, if anything, seems to be centred on this small fenced area with a white spot in the middle, from GE Maxar 4-9-2023.

What is it?

Any ideas?

https://www.flickr.com/photos/194934344@N06/53259519969/in/dateposted-public/

So busy typing forget to put up the image of Camp Rukwa, here it is

https://www.flickr.com/photos/194934344@N06/53259646835/in/dateposted-public/

Again L-R GE Maxar control 4-9-2023, then Sentinel 28-9-2023, 8-10-2023 and 13-10-2023

Yes, these are images of Itumbula-1 taken in false and true colour.

https://www.flickr.com/photos/194934344@N06/53254722332/in/dateposted-public/

https://www.flickr.com/photos/194934344@N06/53255608436/in/dateposted-public/

Each is a panel of 4 images, showing left GE Maxar from 4-9-23 as a "control", then left to right 28-9-23, 8-10-23 and 13-10-23 (3-10-23 was hazy). You can see that the work has started on the pad in the far right image, but not on the images to the left of that. So this image tweeted at 8.15am on 10-10-23 by He1

https://www.flickr.com/photos/194934344@N06/53248335906/in/dateposted-public/

was likely taken the previous day, and work commenced at the pad around 8/9-10-2023.

Judging by the speed of progress at Tai-3, whilst Tai-3 is larger, I'd say it will be around 3 weeks before the pad is ready to receive heavy equipment. If Tai-3 had been on track then they'd have (allegedly) reached TD last weekend and would be looking to move to Itumbula-1 from this weekend onwards, but the pad wouldn't be anywhere near ready.

In a previous post I suggested that work at Itumbula-1 ceased almost completely from around 15-9-2023 to around 8-10-23. That would account for the delay, but why any delay? We don't know.

Also things happening at Camp Rukwa, after it being unused since early August. Again panel of 4 images, same dates, showing "something" developing at Camp Rukwa. A collection of containers, or something more substantial? Again we don't know, will keep an eye out. I doubt He1 will tweet a picture of this as they seem to keep Camp Rukwa under wraps these days.

Whatever it is it may be analogous to whatever Noble have recently built at Mbelele-2, here on the right

https://www.flickr.com/photos/194934344@N06/53240636642/in/dateposted-public/

Very bright reflection, maybe a larger structure than that at Mbelele-1, or the roof is highly reflective, or just caught the sun at the right angle.

This is Mbelele-1 for comparison, so the building "looks" larger (quite a bit larger) than the one next to the pad at Mbelele-1, but we will have to wait for ground pictures (or GE Maxar - I have put in a request) to see what exactly it is.

https://www.flickr.com/photos/194934344@N06/53204047660/in/dateposted-public/

Maybe somewhere to overwinter/maintain their rig, although in Chesterfield it seemed to be kept out in the open?

And late Friday (early Saturday in Oz) Justyn Wood posted a cryptic message hinting that Noble were about to spud...

Part 1

Just to follow on from the previous post, and as someone else has raised the name of "Thomas Abraham-James (Helium One co-founder)" I thought I'd elaborate, on just one of the links I've found.

There are many and varied links though, I hope to put something together with a graphic, but it is taking too long and may be overtaken by events, so this will have to do for now.

This is the (almost) current licence map for Lake Rukwa - showing the three main players, one of whom is cloaking a fourth player. It is slightly out of date as Noble is applying for another small area near Dagaa. This map is the basis for what may be going on.

https://www.flickr.com/photos/194934344@N06/53207672875/in/datetaken/

This is the D3 Energy May 2023 presentation, which provides the access to the rabbit hole down which we are about to travel.

https://d3energy.com.au/wp-content/uploads/2023/05/20230517-D3-Energy-PPT-Presentation.pdf

Door creaks open, and whoosh... down we go...(hang on!)

D3 Energy explain that they have access to three prospective helium licences around Lake Rukwa, and can get these subject to listing on the ASX. The vendors are founders of Helium One, and these licences are currently owned by a Tz company, Kidunda. The vendors are "Europe based" - a clue!

A look at Companies house in Cardiff and there is a company there Kidunda Limited, here -

https://www.flickr.com/photos/194934344@N06/53251120188/in/dateposted-public/

Look at the accounts and this company indeed owns 99% of Kidunda Tz

https://www.flickr.com/photos/194934344@N06/53249908287/in/dateposted-public/

and it did a deal with D3 Energy on 19-1-2023 to sell those licences

https://www.flickr.com/photos/194934344@N06/53251084193/in/dateposted-public/

The owners of Kidunda Limited (ie the licences) are here

https://www.flickr.com/photos/194934344@N06/53251325160/in/dateposted-public/

Thomas Harvey Abraham-James, Patrick Ambwene Muwowo (no doubt representing Tz interests) and Cambrian Limited, which has since revealed itself to be Neil Lindsay Herbert.

Who are they? They are here

https://www.flickr.com/photos/194934344@N06/53253595984/in/dateposted-public/

Pulsar Helium of Minnesota. So our neighbours at D3 Energy Australia are really Pulsar Helium of Minnesota.

This is interesting in itself, however it gets more interesting.

This is something I've alluded to before, this is the He1 map taken from the AD in 2020, showing He1 licences and applications

https://www.flickr.com/photos/194934344@N06/53206195230/in/dateposted-public/

There is a "hole" right in the middle of the He1 licences, turns out this is now a Kidunda licence.

But more interestingly at that time He1 is applying for some additional licences, we will concentrate on 11321, 11320, 1112 and 12868.

See here

https://www.flickr.com/photos/194934344@N06/53226695785/in/datetaken/

Cont/...

Part 2

cont/...

He1 RNS'd on 14-8-2022 that it wasn't renewing some licences as they were insufficiently prospective, and it appears that the applications for the four above may have been dropped around that time.

Now that is all very well, but it would now appear that since He1 dropped those applications 11321 has been taken partly by Noble, 11112 mostly taken by Kidunda and 12868 has been entirely taken by Kidunda.

https://www.flickr.com/photos/194934344@N06/53226695785/in/dateposted-public/

So would that possibly be an example of He1 cooperating with Noble and/or Kidunda, or making a mistake and the other two seeking to take advantage?

We don't know, and may never know, and it is all irrelevant if there is no helium there. But if there is helium...

Further if you look at the map first posted, there are "gaps" in the licence areas now issued, especially around the area of Rukwa "A" and the lake to the SE of He1's licence area. The "gap" to the east of Itumbula-1 always interested me, we now know that is Kidunda, and these other gaps now look a whole lot more interesting.

But Messrs Abraham-James, Muwowo and Herbert not only own Kidunda, they also own Volcanic Metals Limited here

https://www.flickr.com/photos/194934344@N06/53251510329/in/dateposted-public/

which (surprise!) also has a Tz subsidiary, and I would wager that also owns some prospective helium licences around Rukwa or one of the other interesting areas a few hundred km away. And there is at least one other UK company set up on a similar basis.

The timeline appears to be -

December 2020 - He1 lists, but there are gaps in its licence applications

January 2021 - Kidunda et al created

September 2022 (or prior) - He1 doesn't pursue licence applications 11321,11320,11112 and 12868

October 2022 - Kidunda awarded part of licence 11112 and all of what was 12868 (Noble later applies for part of 11321)

November 2022 - Kidunda Ltd issues 4M new shares

January 2023 - Kidunda Ltd does deal with D3 Energy, and gives 4M shares to Archean Pty

May 2023 - D3 Energy says it would like to list on ASX

July 2023 - He1 and Noble both acquire rigs, He1 having been negotiating for two months.

Do I know what all this means?

No! I certainly don't, but it is just one example of much manoeuvring which can be glimpsed going on in the background. And if He1, or indeed Noble strike then the owners of Kidunda Ltd are about to become very rich as a result of being very clever, patient and for not much effort at all.

And finally, I think it was at the AGM, when IS said he had just flown in from Portugal. I'll leave you to guess who lists his country of residence as Portugal.

Coincidence?

Well, maybe...

But believe me, there is much more.

But at the end of the day if there is no recoverable helium, then it don't mean much at all.

Scott22, it may (or may not) surprise you to know that, whilst Mr Abraham-James public face resides in Minnesota, his heart has never left Lake Rukwa.

Essentially, there are three helium seeking entities which encircle Lake Rukwa, however they not only encircle the lake, but also circle each other.

Perhaps sometimes they are rivals, sometimes they cooperate, other times they watch for one to make a slip up, and then seek advantage. And if the slip were to be significant, go for the kill.

All three are linked by various diverse means. Some linkages are public, although discovering them involves much digging, other linkages I'm sure are very effectively concealed.

Up to now the various rivalries are of a somewhat hypothetical nature, however they may shortly have a very practical component.

Remember there are FOUR drills...

LW, the camp site has been there for a couple of years, but much expanded recently. The Noble helipad has been there a couple of weeks.

There is no evidence of a helipad at Mbelele-1 or Mbelele-2 which is where the drilling will actually take place and is 20km distant.

You would think that would be where the helipad would be located with all that heavy equipment clanging about, not the Camp where chef may accidentally pour a pan of hot soup over a driller, or a geologist drop a really heavy box of samples on his toe.

Nor is there any helipad at Camp Rukwa or at Tai-1.

That is not to say a helicopter could not land close to any of those locations.

Just really odd where they have chosen to build it, if it is for H&S purposes.

It also helpfully explains the share price crash from around 6.9p to 5p in the two weeks from 15-9-23, prior to the drill breaking.

There was some sort of interruption, but we do not know, and will probably never know the reason for that.

Then there was the problem with the drill - crash to 3.9p

One problems, the earlier, appears to have been resolved, hopefully the latter problem is well on the way to being resolved.

Now the shares may being to rise.

No need for nasty MM's, manipulation or whatever, but clearly some people are better informed, or have better access to information and/or Maxar $250+ per image, than others.

Blissful, I know what the company says, and I know what the company does not say.

If you look back through my posts you will see that I posted as early as 12th June 2023 that Tai-3 was being built, with regular updates thereafter. Had I been more alert, I would have spotted this activity by mid May. The company did not mention anything concerning the building of Tai-3 until 10th July, after they had bought the rig.

So what the company says and what it does are two completely different things.

And with Itumbula-1 they cleared the pad area first, no doubt using heavy equipment, then started on the roadway. Google Earth Maxar clearly shows that to be the case.

Sentinel clearly shows that they have done nothing at the site for the last month.

I am sure they are using the word "continuing" in the most flexible sense possible.

Like they used the word "imminent" when saying "no imminent fundraising", and raised a week later.

I have provided the evidence, you just have to look at the images and you can see it.

There were those who said, between 12 June and 10 July that they could see nothing, but it was staring them in the face.

The line across the proto pad is the clue. Work stopped for a month, it now appears to have recommenced. The Sentinel pass Friday coming will show whether that is correct or not.

Dai - the close up detailed image is Google Earth Maxar - it is free!

And whilst we are asking a few questions, instead of droning on about a placing that took place quite a while ago now, or insulting the members of the board, or complaining about how much is your paper loss in a high risk share ('cos whilst that is all very interesting (not), it don't really get you anywhere).

Instead ask why work has suddenly appeared to recommence at Itumbula-1 after over a month of no activity.

Or even compare two images of Nobles Base Camp three weeks apart, like here 15-9-2023 and 5-10-2023 -

https://www.flickr.com/photos/194934344@N06/53248908958/in/dateposted-public/

and ask yourself why there is a need for a large and well constructed helipad at this location when drilling is taking place 15km-20km distant, and neither of those Mbelele drill pads has its own helipad?

Think about the answers to those questions, and you might find you come up with some worthwhile answers.

Hint neither Camp Rukwa has a helipad, and Itumbula-1 isn't large enough for one. Tai-3 does have a helipad.

And some people "expect" to see a large "H" when the come into land and not some dusty field.

It is like being back at school again.

Maybe appropriate for some.

This is the image showing the extension to the pad completed between 4-9-23 and 13-9-23

https://www.flickr.com/photos/194934344@N06/53243154684/in/dateposted-public/

(typing too quickly previously)

Todays image is the first work carried out to the Itumbula pad since then.

Something has changed in the last few days.

I was going to leave this until the weekend, but no time like the present. but it will be fairly brief.

Todays tweet could be most important - it includes a picture here, which I assume to be the I3 pad -

https://www.flickr.com/photos/194934344@N06/53248335906/in/dateposted-public/

The pad is a tan colour, and the image if correct could only have been taken yesterday.

This is the area cleared for the pad from GE Maxar on 4-9-2023

https://www.flickr.com/photos/194934344@N06/53240143216/in/dateposted-public/

The pad is very dark, almost black, with a light stripe running across it, E-W.

The light stripe is crucial, as these images show the pad on various dates from 4-9-23 onwards to 3-10-23 -

https://www.flickr.com/photos/194934344@N06/53239155622/in/dateposted-public/

show the light stripe in all of them. This shows no work was carried out to the pad between these dates. Itumbula-1 has been at a standstill for over a month.

The Sentinel image from 8-10-23 also shows the light stripe, albeit a little faded -

https://www.flickr.com/photos/194934344@N06/53243690456/in/dateposted-public/

Save for an extension to the area cleared for the pad between 4-9-23 and 13-9-23 shown here -

https://www.flickr.com/photos/194934344@N06/53243690456/in/dateposted-public/

no work was carried out at the Itumbula-1 pad between 4-9-23 and 8-10-23. The roadway appears to have been completed around 15-9-23, and again no work has been carried out there, that I can tell from Sentinel (difficult to be sure due to the resolution) until today.

But as to the pad at Itumbula-1, I am confident of no work being carried out there from 4-9-23 to 8-10-23 (save for the extension) as the light stripe appears in all the images.

The He1 share price reached a post funding high of 6.9p on 15-9-23, and has been in steady decline since - around the same time work stopped at Itumbula-1.

Why did work stop?

We don't know.

Contractual dispute?

Workers/materials not available? Tied up at Mbelele-2?

Or maybe He1 knew the drill wasn't up to it at Tai-3 and knew that they wouldn't get to drill Itumbula-1 this year - so no need for a pad there.

And if they'd planned to stop work for a month, and had kept to their timetable at Tai-3, they'd be logging/sampling now and looking to move some heavy equipment from Tai-3 to Itumbula-1 around now and the pad would be no where near ready.

The key thing is that the tweet suggests that work has started again. This will be confirmed by Sentinel on Friday if the pad is shown to be now a tan and not black colour.

If that is shown to be so, and that confirms todays tweet photo was taken yesterday, then something must have happened in the last few days to suggest to He1 that they will after all be able to drill at Itumbula-1 this year, after all, and that they could now proceed with pad construction again, and that began yesterday.

Hopefully the share price will now react accordingly.