Helium One Global Limited reported its interim results for the six months ending December 31, 2024, showcasing significant advancements in its Tanzanian and US projects. Noteworthy achievements include a successful well test and the acquisition of a 50% stake in a Colorado project. The company is well-funded, with a current cash balance of $10.02 million.
Helium One Global Limited recently published its interim results for the six months ending December 31, 2024. The report emphasized notable advancements in its initiatives in Tanzania and the USA. In Tanzania, the company successfully conducted an extended well test at Itumbula West-1, achieving helium flow rates of up to 7.9%. They have also applied for a Mining License for the Rukwa Helium Project and received an offer letter from the Tanzanian Mining Commission.
In a strategic move, Helium One Global acquired a 50% stake in the Galactica-Pegasus project located in Colorado, USA. Consequently, they have initiated a six-well drilling program, which signals a robust diversification of the company’s risk profile while creating potential pathways for near-term revenue. As of December 31, 2024, the company is well-capitalized, boasting a cash reserve of $10.02 million.
Helium One Global Limited is recognized as a leading helium explorer, listed on the AIM segment of the London Stock Exchange and the OTCQB in the United States. The company’s primary focus is on helium exploration, and it possesses several prospecting licenses in Tanzania, alongside a joint interest in the Colorado project. Its key undertaking, the southern Rukwa Helium Project in Tanzania, is now progressing to the appraisal stage following successful exploration and well tests.
Helium One Global Limited’s recent update reveals considerable progress in its projects both in Tanzania and the USA, underlining its commitment to helium exploration. The successful well tests and the Mining License application reflect the company’s positive trajectory towards revenue generation. With sufficient funding and strategic acquisitions, Helium One is positioned to enhance its growth and stability in the helium market.
Original Source: www.tipranks.com
