RLT CHART, page-910

Updated quick comparison with some other helium players.

TSXME disappointed the market with 1.1% in their 4th well, following previous 7% and 4% strikes. This has wiped about 40% from MCAP in September to about AUD208m.

In their September releases, they make some interesting price comments:
"Pricing on both crude and processed grades of helium vary with market conditions. At this time, crude helium is $269mcf and processed helium ranges from $580 to $2,350mcf dependent upon grade and delivery."

LON:HE1 has also struggled with their first couple of drills. They've had some shows at around 1% but no free flowing gas. Gas permeating through the ground but not gathered anywhere is a bit tricky to extract. Their MCAP has suffered from this news, losing bout 70% in the last 2 months to about AUD93m.

ASX:BNL has had a solid recent SP boost, based on the news their permit hearing to drill their first well has a date and there are no public objections. MCAP has doubled in the last month to AUD86m. A CR soon is I think inevitable and I feel the timing will reflect their confidence in the drill. Note also that iirc BNL's initial plan to revenue was trucking extracted gas to a nearby processing facility, though I now see they're planning a stage 1 plant 4Q22/1Q23.

ASX:RLT has MCAP of AUD241m, significant resource update imminent, first plant to be commissioned this quarter, offtakes secured for everything from Phase 1. Compared to these other companies they also have a big revenue advantage, that in addition to the helium, RLT also produces natural gas, albeit at the price of not self monikering as "pure play helium" (wipes tears away).

The difficulties experienced so far by HE1 tend to highlight just how fortunate the geology is for RLT, with 900km of identified faults and fractures where the gas can gather and a plan to extract it.

I also think the quote above from DME shows how important future price discovery mechanisms, like a block chain, or ETH based physical backed token, will be. That's almost a 9 fold spread in price.

MCAPS (AUD m)
ASX:RLT 241
TSXME 208
LON:HE1 93
ASX:BNL 86

For me, given relative stages of discovery (2 of the above don't yet have a discovery) and development, RLT still seems under priced compared to these others. That's excluding Evander altogether. The level of hype around HE1 had it, earlier in the year, at a higher MCAP to RLT, without any helium, just on pre-drill excitement and marketing. That 100% rise in BNL is linked to the granting of a permit to drill a first well. Meanwhile RLT are waiting on what could well be a very significant resource update, based on actual numbers being crunched by a reputable organisation.

A Google search for 'helium stocks' yields an interesting ranking.