Blue Star Helium (AU:BNL) has released an update.
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Blue Star Helium Limited has announced a successful funding round, raising A$3.0 million through the placement of 750 million new shares to support its helium development and exploration activities in Colorado. The placement received strong backing from existing shareholders, with the funds aimed at advancing projects such as Galactica/Pegasus and Serenity, as the company looks forward to starting production in early H1 2025. The share placement is structured in two tranches, with the first set to settle on September 13, 2024, and shareholder approval sought for the second in an upcoming general meeting.
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