Helium One Global Ltd has started drilling the Itumbula West-1 (ITW-1) well before a planned extended well test on the Rukwa licence, Tanzania. FEASIBILITY STUDY On 26 July, operations began to test two intervals of the fractured Basement and faulted Karoo sections. The company said it had drilled out the 9⅝” shoe track and was […]
Tag: Rukwa – Tanzania
Helium One raises £8m via 56.5% discounted fundraise
Helium One Global Ltd has raised £8 million via a 56.5% discounted fundraise for 1.6 billion new ordinary shares of no par value in the company at a price of 0.50 pence per ordinary share. USES A placing of approximately 1.6bn new ordinary shares raised approximately £7.9m, and a subscription of 27m new ordinary shares […]
Helium One progresses towards operational phase
Helium One Global Ltd is progressing towards operational phase with new studies, an expanded technical team and a review of production options at Rukwa in Tanzania. FS Conversion of its licences from prospecting to mining requires an environmental and social impact assessment, which forms part of the feasibility study. An expanded technical team is expected […]
Helium One ITW-1 flows helium to surface
Helium One Global Ltd’s completed Itumbula West-1 well flowed high concentration helium, measuring 4.7%, from Basement to the surface at Rukwa in Tanzania. EVALUATION The company yesterday said that a measured helium concentration of 4.7% equates to almost 9,000 times above background levels. Hydrogen also flowed to surface during basement testing, at a concentration of […]
Helium One reaches £6m via 72% discounted fundraise
Helium One Global Ltd raised £6.1 million through the issue of 2,420,842,500 new ordinary shares, of no par value in the capital of the company, each at a price of 0.25 pence. DIRECTORS’ DEALINGS The oversubscribed fundraise comprised a placing of 2,413,642,500 new ordinary shares, raising £6m, and a direct subscription of 7.2m new ordinary […]
Helium One needs more funds to drill Itumbula well
Helium One Global Ltd needs further funds to drill the Itumbula well once it has repaired its drill rig on the Rukwa licence in Tanzania. COSTS The company has faced setbacks from delays and component failures but aims to spud the new well in early January 2024. A full cost analysis and budgeting exercise showed […]