BNL 5.88% 3.6¢ blue star helium limited

SA helium stock soars Friday

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    South Africa based, ASXlisted Renergen was up from $1.22 to$2.04 after trading as high as $2.90 on huge volume Friday.

    On 27 January the company announcedthat as an “emerging helium and natural gas company RenergenLimited is pleased to announce that it has contracted three companies for the engineering studies of Phase 2 of the Virginia Gas Project located in Free State, South Africa.”

    Renergen claimed the Virginia Gas Project boasted significant Proven andProspective helium Reserves and Resources containing one of the richest heliumconcentrations recorded globally, with readings up to 12%.

    It would indeed be trulyremarkable if that were the case as most helium commercially producedconcentrations have been with less than 5% concentrations, often much less.

    But it seems the punterinterest may also have been ignited by old Renergenclaims that it had created a storage solution for COVID-19 vaccines like thePfizer vaccine that need to be kept at extremely low temperatures.

    Renergen is very tightly held, the top eight shareholders accounting for 95% ofthe shares so when retail traders look for exposure and if none of the topshareholders are trading the share price can move quite spectacularly both upand down as we saw Friday.

    The focus on helium isinteresting given the it did not extend to BlueStar Helium the pure helium play with some of the most prospective heliumleases in the US in Colorado a known helium producing state. Blue Star has acreage on trend withColorado’s most famous helium field the Model Dome field that produced heliumfrom gas with concentrations up to 8%. BlueStar finished down Friday from 4.4 cents to 3.9 cents.

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