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The March 26 fundraise didn’t give much detail on well locations, but with Blue Star now running 24/7 at Pinon Canyon and six wells tied in, it looks like Stage 1 is effectively complete.

What shareholders need next is clarity — specifically a capex breakdown and a forward well map in the upcoming quarterly. That’s the only way to show the £3.5m raise was a targeted investment for 2026 growth, not just a buffer.

At the same time, there are still real questions around whether the current leadership can convert all this into a meaningful outcome for LTHs, who’ve funded this through heavy dilution. The farm-out and Colorado results now need to deliver tangible returns.

As of late March, the Pinon Canyon Plant has transitioned to continuous operations. They aren't just testing anymore; they are filling tube trailers. Because global supply is so tight (the Qatar/Hormuz effect), Blue Star is likely selling its first trailers at premium spot prices rather than locking into cheap long-term contracts yet. They are currently in the final push to get the CO2 liquefaction unit online (targeted for H1 2026). This is the "hidden" revenue stream—selling the CO2 to the US food and beverage industry while they sell the helium to tech...

Is that £500k trade a buy or sell?

Actually I said this would double as well. Thats why I am here - end of this year this stock price will be double today (at least) - DYOR

The A$77m tax shield effectively means the first £40m+ of profit is purely for the company and shareholders, not the taxman. This massively increases the "Fair Value" of the company compared to its peers.

Next step is for them to engage a 3D scanning company to size it all up in nice easy to understand graphics -

The board is investing A$1m specifically to extend the decline at Maddens Flat by 120m. This opens a new level with the potential for 2,500 oz of gold (~A$18m revenue at today's prices)….

Unlike previous years, ECR entered 2026 with £1.5m in cash from the January raise. They aren't just surviving; they are building….the Oak Securities report confirms that this isn't just talk—it's a multi-front engine that is already running. Commercial gold sales at Raglan are officially expected within the next 1-2 months. Test pits are already extracting gold-bearing gravels…

While Rift listing at 10p proves the geology is real, it simultaneously highlights the massive stewardship deficit at HE1. Doubts remain on whether the current leadership team possesses the strategic agility to pull off a transformative deal for the LTHs who have funded this entire show at a massive cost—and, to date, a near-total wipeout. Unless this "miracle" farm-out deal actually materializes, Rift isn't just validation; it’s a blueprint for how to build value that HE1 has seemingly ignored in favor of endless dilution and "lifestyle" management.

Yep - now is the time to be stocking up on these stocks at these levels - once production numbers start coming in, this share will certainly lift - for me the only downside risk is if they say 'no production, sorry was all a joke'. I don't believe that will happen so stocking up! Only £8.5m market cap - this will easily double in my view. I am essentially buying the production transition for a fraction of its future value. DYOR.

That’s a fair point — and I agree production execution should absolutely come first.

That said, branding and capital access aren’t mutually exclusive. If the goal is to attract new institutional interest, the external perception of the company still matters. “ECR” may be recognised internally, but it doesn’t clearly communicate gold production, scale, or the Australian focus to a new audience.

Perhaps it’s not an immediate priority, but once production is established and cash flow proven, aligning the brand with the new reality could help support a broader re-rating.

Ultimately, delivery will drive the valuation — but how that story is presented to the market can influence how quickly it’s recognised.

Fellow shareholders,

With the Paleogold acquisition and first gold sales at Raglan, this company has clearly moved beyond its legacy as a pure explorer. We’re now a multi-asset operator across Australia, with near-term production, multiple projects, and a significant A$77m tax shield supporting future cash flow.

To unlock the kind of re-rating being discussed, attracting new institutional capital is key. That likely requires a shift in perception — and branding plays a role in that.

A name like Australis Gold (or similar) could better reflect where the business is today:

- A clear Australian production focus

- A growing operational base (Raglan, Maddens, Blue Mountain)

- A fresh identity, distinct from legacy sentiment

The strategy is already evolving — moving from reliance on placings toward self-funded growth. A rebrand could reinforce that transition and help the market reassess the story on its current fundamentals.

Curious to hear views — does a name change help signal this new phase, or is delivery alone enough?

Rift Helium has commenced trading on AIM, raising capital to advance helium exploration at its Upepo Project in Tanzania, targeting a proven basin with favourable supply-demand dynamics.

The company raised approximately £8.1m through a placing and subscription at 10p per share, implying a market capitalisation of ~£13.4m on admission.

Funds will be deployed across near-term catalysts including EIA approval, 3D seismic work in 2026 and drilling planned for H1 2027.

The Upepo Project covers 283km² in the Rukwa Basin, adjacent to confirmed helium discoveries, supporting a de-risked exploration strategy.

An independent CPR estimates prospective resources of ~19 Bcf (P50) and ~41 Bcf mean, highlighting material scale potential.

The company is pursuing a “third-mover” strategy, leveraging prior basin learnings to improve targeting efficiency and capital discipline.

Helium market fundamentals remain supportive, with constrained global supply and demand growth driven by semiconductors, healthcare and aerospace applications

Since the news, we've seen great trading volume (over 19M shares today). This isn't just people selling; it's a massive "changing of the guard." While retail sentiment is low, institutional buying (often hidden in these large volumes) is what eventually drives the price toward that 0.68p target.

Nick Tulloch is essentially "betting the house" on being an operator rather than an explorer. If Raglan starts selling gold in the next 4-8 weeks (as per the Oak Securities timeline), the "Shambles" crowd on this forum will have no leg to stand on. A company with £1.5M cash, A$77M tax losses, and A$10M+ in potential near-term revenue does not need a placing at 0.20p. It needs a higher share price to reflect its new status as a producer.

So you reckon there is no gold mining going on at Raglan at the moment Coco..

The current board is funding these production-ready assets through internal cash and performance-based debt, avoiding the discounted placings that defined the company’s past. With commercial gold sales starting at Raglan within 60 days and a hard-rock plant already on-site at Maddens Flat, the focus has shifted from "selling a story" to generating tax-free revenue. Im confident for 100% return on my investment by end of year.

The current price reflects short-term macro noise. The upcoming Raglan sales and Maddens production will be the real test. If you’re right, the SP stays here. If Dr. Long is right, we’re looking at 145% upside. I'll take the analyst's math over forum sentiment.

You're right - ECR’s history over the last 20 years has a lot of "hot air" and pivots that went nowhere. Nobody is denying that. But if you’re going to list the history, you have to look at the Board and the Balance Sheet change since 2024:

Management Skin in the Game: The old ECR was run by "lifestyle" directors. Nick Tulloch and the current board have significantly more "skin in the game" and a mandate for self-sustainability.

Cashflow vs. Ramping: For 20 years, ECR lived on "False Promises" of future gold. Today, Raglan is in Phase 1 production and Oak Securities (a real analyst, not a forum ramp) has pinned a 0.68p target based on cash-flow models, not just geological hope.

The "Bitcoin/Helium" Era: Those were distractions from previous management teams. The 2026 strategy is laser-focused on Australian Gold Production—10 assets, 4 states, and the plant already on-site.

No Placing: If this was the "old ECR," they would have done a 0.20p placing yesterday. Instead, they did a staged deal with zero new equity raised from the market.

For every person exiting because of 20 years of frustration, someone is entering because they see the A$77M tax shield and the 10000+tpa plant finally being put to work. Past performance is a warning, but it isn’t a prophecy.

To be fair, the Oak Securities report out today (Target 0.68p) highlights why this isn't a standard dilution.

Asset vs. Confetti: They didn't raise cash at a discount; they used shares as a currency at 0.26p (market rate) to buy a A$2M processing plant and a A$38M resource. That’s an asset swap, not a "hand-out."

Performance-Based: 2/3 of those shares only exist if the company hits A$10M in revenue. If they hit that, the share price won't be 0.28p anymore.

The "Easter" Reality: Every mine in Australia—from BHP to Rio Tinto—runs on local labor laws. Taking the long weekend is standard operational practice in Queensland, not "amateurism."

Diversifying into hard-rock (Maddens) actually de-risks the BM story by providing a second, high-grade revenue stream.