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Highlights
Helium One Global Ltd confirms early closure of WRAP Retail Offer due to high interest
Ongoing development activities in Tanzania and Colorado projects continue to progress
Helium One listed on LON/LSE under ticker HE1 and also trades in the US OTCQB market
Helium One Global Ltd operates in the exploration and development segment of the energy sector, with a specific focus on helium resources. The company is based in the United Kingdom and maintains exploration and development projects across Tanzania and the United States. The recent announcement of an early close to its WRAP Retail Offer underscores heightened interest in the company’s ongoing initiatives.
Retail Offer Closed Early
The company announced the early closure of its WRAP Retail Offer, citing strong demand from participants. The offer, initially expected to remain open for a longer period, was closed ahead of schedule. The exact amount of proceeds and number of ordinary shares issued will be confirmed in a forthcoming announcement. Terms not explicitly defined within the latest release align with the announcement made earlier on the fifth of August.
Tanzania Exploration Activities
In Tanzania, Helium One holds licenses across multiple helium-rich project areas. Its primary focus remains the Rukwa Project, situated within the Rukwa Rift Basin. Following a successful drilling campaign during the prior exploration season, the company confirmed a helium discovery at Itumbula West-1. An extended well test demonstrated a continuous surface flow with a high concentration of helium.
In the third quarter of the previous year, this test marked a critical step in the project's progression. Subsequently, the company submitted a formal Mining Licence application to the Tanzania Mining Commission. The licence was officially granted in mid-year, covering a significant land area for future appraisal and development.
Progress in United States Operations
In the United States, Helium One maintains a working interest in the Galactica-Pegasus helium development project in Colorado. This venture is carried out in partnership with another helium-focused entity. The current phase of operations involves development drilling, completed in the first half of the year.
The programme included six wells, each targeting the Lyons Formation reservoir. The formation yielded promising helium and CO2 flow rates across all drilled wells. Preparations are underway to tie these wells into initial production systems, scheduled before the end of the current calendar year.
Listed on LON/LSE and OTCQB
Helium One Global Ltd is listed on the AIM segment of the London Stock Exchange, trading under the ticker HE1. It also trades on the OTCQB market in the United States under the ticker HLOGF. The company’s activities align with broader interest in the helium exploration space, with developments being closely monitored within the context of ftse 100 today live movements.
Frequently Asked Questions
- What is the focus of Helium One’s exploration projects?
The company concentrates on helium exploration and development in Tanzania and the United States. - Why was the WRAP Retail Offer closed early?
The retail offer was closed early due to strong demand from participants. - Where is Helium One listed?
Helium One is listed on the AIM market of the London Stock Exchange under ticker HE1 and on the OTCQB market under HLOGF.
