Helium One Global Ltd has become the only helium exploration company to be listed on the Alternative Investment Market (AIM) of the London Stock Exchange.
In November, the company, whose interests are in Rukwa, southwest Tanzania, said it expected to be listed this month following a £6 million fundraise and its amalgamation with Attis Oil and Gas.
Chief executive David Minchin said the admission was a significant moment for the company.
“Following our oversubscribed capital raise we are fully funded to carry out an aggressive exploration programme commencing in Q1/Q2 2021.
“This drilling programme will enable us to prove what we believe is an asset with globally strategic implications in a supply constrained helium market.
“Helium One is the only company listed on AIM that provides investors exposure to helium – a scarce and irreplaceable commodity which is essential for many modern technologies.”
GROUP ASSETS
The company’s assets are located within the rift basins on the margin of the Tanzanian Craton.
Through its subsidiary companies Gogota (Tz) Ltd, Stahamili (Tz) Ltd and Njozi (Tz) Ltd, Helium One has secured 18 prospecting licences covering more than 4,512 km² in three distinct project areas: the Rukwa, Balangida and Eyasi projects.
These are near surface seeps with helium concentrations ranging up to 10.5% helium by volume.
RUKWA PROJECT
The Rukwa project lies within the Rukwa Rift Basin covering 3,448km2 in southwest Tanzania and is considered to be an advanced exploration project.
Helium One’s additional two projects, Eyasi and Balangida cover 804km2 and 260km2 respectively, and are located in north central Tanzania.
Both are at a less advanced stage but have “exceptional helium gas concentrations at surface, and ideal geology for source, reservoir, trap and seal.”
HELIUM
Helium is a non-renewable commodity used in industry and technology. It cannot be substituted or artificially manufactured and is seen as a critical material in many jurisdictions.
The majority of helium is obtained as a by-product of hydrocarbon production at concentrations typically ranging from 0.05% – 0.35% He.
The gas is made by the slow decay of radioactive elements within ancient continental crust and released when the crust is broken up by powerful plate tectonic forces, such as those within the East African Rift Valley.
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