🍎Compare the key points from the March 2024 quarter report against the June 2024 quarter report to highlight the main developments and changes.

  1. Cash Position:

  2. Voyager Project:

  3. Financials:

  4. Galactica/Pegasus Project:

  5. Serenity Project:

  6. Corporate Strategy:

  7. Well Permitting:

  8. Acreage:

In summary, the June quarter saw significant progress at the Galactica/Pegasus project with the successful drilling of State 16, a new focus on the Serenity project for CO2 production, and continued development planning. However, the cash position decreased substantially, likely due to the increased exploration and development activities.

🤑Operational costs.

Analyze the operational costs for both quarters based on the information provided in the Appendix 5B cash flow reports. We'll compare the March 2024 quarter with the June 2024 quarter.

  1. Exploration & Evaluation Costs:
  2. Production Costs:
  3. Staff Costs:
  4. Administration and Corporate Costs:
  5. Capitalized Exploration and Evaluation Costs:
  6. Payments to Acquire Tenements:
  7. Property, Plant and Equipment Acquisition:
  8. Payments to Related Parties:

Overall observations:

  1. Total operating cash outflow (excluding investing activities):
  2. Total investing cash outflow:
  3. The company shifted from higher capitalized exploration costs in March to higher production and administration costs in June, possibly reflecting the transition from exploration to development activities, particularly at the Galactica/Pegasus project.
  4. The increase in production costs and administration costs in the June quarter might be related to the drilling and evaluation of the State 16 well at Galactica/Pegasus.
  5. Despite lower capitalized exploration costs, the overall cash burn increased due to higher operational expenses, contributing to the significant decrease in cash position from A$3.714 million to A$1.225 million over the quarter.

These changes in operational costs reflect the company's shift in focus towards development activities, particularly at the Galactica/Pegasus project, while also incurring higher administrative costs possibly related to project management and evaluation.

🚸Review of Operational Costs

To accurately review Blue Star Helium's operational costs based on the most recent quarterly reports, we'll focus on the detailed costs outlined in the reports from March 2024 and June 2024.

Key Financial Highlights as of 31 March 2024 (Previous Quarter):

Key Financial Highlights as of 30 June 2024 (Current Quarter):

Breakdown of Operational Costs

  1. Exploration & Evaluation Costs:
  2. Staff Costs:
  3. Administration and Corporate Costs:
  4. Total Cash Used in Operating Activities:

Observations:

Financial Summary:

Conclusion: