Helium One Global Reports Significant Progress in Tanzania and USA Projects

Helium One Global Limited reported key advancements in its Tanzania and USA projects, including a successful well test at Itumbula West-1 and a Mining License application for Rukwa. The company also secured a 50% interest in the Galactica-Pegasus project in Colorado and initiated a drilling program. With a current cash balance of £10.02 million, Helium One is poised for near-term revenue generation and continued strategic investment.

Helium One Global Limited has released its unaudited interim results for the six months concluding December 31, 2024, showcasing notable advancements in its Tanzanian and U.S. projects. The company successfully conducted an extended well test at Itumbula West-1 in Tanzania, achieving a surface helium flow rate of 7.9%. Furthermore, Helium One has submitted a Mining License application for the Rukwa Helium Project, with an offer letter received from the Tanzanian Mining Commission.

In the United States, Helium One acquired a 50% stake in the Galactica-Pegasus project located in Colorado, where it has begun a six-well development drilling program. These steps are intended to mitigate the company’s risk profile while generating opportunities for immediate revenue, which will bolster future investments. As of December 31, 2024, Helium One is in a secure financial position with a cash balance of £10.02 million.

Helium One Global Limited is a leading helium exploration firm listed on the AIM segment of the London Stock Exchange as well as on the OTCQB in the United States. Its strategic focus is on helium exploration, currently holding prospecting licenses in Tanzania and a 50% interest in the Colorado project. The flagship Rukwa Helium Project in Tanzania is progressing into the appraisal stage, thanks to earlier successful exploration outcomes and well tests.

Helium One Global Limited continues to make significant strides in its projects in Tanzania and the USA, with recent developments promising enhanced revenue avenues and reduced risk exposure. The company’s strategic actions, including well tests and license applications, reflect its commitment to progressing its exploration goals while maintaining a strong financial position. Overall, Helium One is well positioned for future growth in the helium sector.

Original Source: www.tipranks.com