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Yeah but the new partner would bring their own drills and teams - our one is a toy compared to what they would bring in right?

PVE is currently in the kitchen, and the meal takes three months to cook. So in the meantime prob could go play for a while longer before coming in here to eat the meal...

The true re-rating begins once PVE provides a material update on the farm-out process. From there, the floor resets as we transition from a speculative junior explorer into a de-risked developer with a clear line of sight to the November 2027 production target. Patience through this 90-day window is the bridge between the current 'market boredom' and the institutional re-valuation that follows a secured commercial mandate.

The Predator 220 rig is too valuable to sit in the mud. I expect HE1 to announce a leasing agreement or a "shared services" deal where the rig generates cash by drilling for other explorers in the area...

PVE will not just look for money; they will look for Industrial Legitimacy. Expect a shortlist of partners that includes at least one "Tier-1" industrial gas major (think Air Products, Linde, or a major Gulf sovereign fund). The goal is a "Cash + Carry" deal: the partner pays a lump sum upfront (to reward HE1 for the $60m spent) and carries the cost of the $100m plant.

With the Mining Licence now legally anchored (the May 2nd signing ceremony), the project is "bankable." Honestly? They will likely pursue a hybrid funding model: 60% senior project debt (from a bank like Absa or an African Development Bank) and 40% equity from the farm-in partner. This is the only way to reach November 2027 without destroying your upside.

Hi McNol - Happy Friday - good to have you on the HE1 Board today. The 'Value' isn't just the gas in the ground; it's the legality of the deal. With 7.6% concentrations, HE1 is sitting on a global outlier. Qatar and the US usually deal with less than 1% helium.

By securing this 'Textbook' agreement, Lorna and the Board have basically built a 'Vault' around the asset. Now, all PVE has to do is find the person with the key (the funding) to open it. It justifies why the 'Adults' (PVE and the Govt) are now running the show.

HE1 carries the cost, but the 17% is the "price of entry" for peace of mind. It’s better to own 83% of a producing project with a happy government than 100% of a project that gets tied up in red tape for a decade.

Because this is a Shareholders' Agreement, if the Government tries to move the goalposts later, HE1 can take them to international arbitration as a business partner, not just appeal to a local ministry. This is what "Investment Committees" (the Big Money) look for.

By moving the Tanzanian Government from a "Regulator" (someone who can change the rules) to a "Shareholder" (someone who profits only if the company profits), HE1 has aligned the state's interests with ours.

Do you reckon this process has only just started or is months in the making already?

They are likely waiting for a "Value Trigger" (like the WuXi Part 2 data or the Water Tower Research launch in the U.S.) to lift the share price toward that 1.7p Singer target before they even think about a significant raise.

The "Cornerstone" Safety Net —>>

Remember that the previous placings at 0.30p and 0.33p were taken by UHNW and cornerstone investors, not PIs. These individuals aren't "flippers." They are partners in the vision. If a fundraise does happen, it is more likely to be a "strategic placement" to these big players rather than a "fire sale" to the market.

Arh yes I just checked - most portion paid in shares yes which is great!

The cash salary they take covers their "mortgage and groceries," while the share awards are what they are actually working for. If the "100% return" happens, their share-based wealth will dwarf their cash salary by 5 to 1.

Yep hopefully a video of it to publicise further

The PIs selling at these levels are effectively funding the retirement of the institutional buyers who are "tucking" these shares away. The combination of Water Tower Research arriving in the U.S. and the WuXi Part 2 data will likely be the moment the gate closes on sub-1p prices forever.....

COCO - this is what they receive in Q1 compensation - please make it clear what the additional cash value is on top that you refer to - thanks

Nick Tulloch, Chairman, will receive 11,538,461 new Ordinary Shares, as payment in lieu of £30,000 of his accrued remuneration for the period from 1 January 2026 to 31 March 2026.

Andrew Scott, Non-Executive Director, will receive 5,288,461 new Ordinary Shares, as payment in lieu of £13,750 of his accrued remuneration for the same period.

Mike Parker, Non-Executive Director, will receive 3,942,307 new Ordinary Shares, as payment in lieu of £10,250 of his accrued remuneration for the same period.

Chris Gibbs, Non-Executive Director, will receive 2,307,692 new Ordinary Shares, as payment in lieu of £6,000 of his accrued remuneration for the same period.

Ok so we can see the stocks element and what they are worth. What’s the cash values per listed person?

While we wait for the PVE commercial 'sharp end,' we should be looking at the Hanmer Springs (NZ) model for the Rukwa region. HE1 owns the rig and has already drilled deep into a high-gradient geothermal rift; those 'dry' or non-commercial holes are essentially pre-drilled infrastructure for a world-class thermal spa and eco-tourism hub.

Repurposing our boreholes for community geothermal use doesn't just create a local 'money spinner' for the population - it secures our Social License to Operate and gives the Tanzanian Government a permanent legacy beyond the extraction phase. This is the ultimate PR win for the Board: turning a capital expense into a 'Healing Water' sanctuary that generates local jobs and safari-circuit tourism long after the drill rig has moved on.

It is a fascinating moment of "market psychology" vs. "fundamental reality." We are watching the classic transition from a speculative retail stock to an institutional U.S. powerhouse, and the friction is creating a massive opportunity for those who can see through the noise....

Colorado profits are 50% HE1 not to Songwe