Helium One Global Limited (GB:HE1) has released an update.
Helium One Global Ltd, a Tanzianian-based primary helium explorer, has announced a fundraising initiative to secure a minimum of £8.0 million to finance an Extended Well Test on the Itumbula West-1 site, aimed at evaluating commercial helium flow rates. This strategic move, which includes a placing and a direct subscription at a discounted issue price, is set to propel the company into the appraisal phase of its southern Rukwa Project. The successful flow of helium from the Itumbula West-1 well has established a viable helium system, marking a significant advancement in the project’s development.
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