Alliance News - Helium One Global Ltd on Monday said it remains focused on its Tanzanian helium discovery as it aims to become one of the leading producers of 'green' helium.
Updating investors at its annual general meeting, the helium explorer said its drilling programme at Rukwa are planned to start in the third quarter, depending on negotiations with rig providers.
Talks are ongoing with several drilling contractors with a preferred rig contractor identified, while there is a possibility of a rig sharing option with another operator.
Helium One said it was well funded for the 2023 drilling programme, having raised GBP9.9 million in December.
The Tanzanian focused firm holds 12 prospecting licences in the Rukwa project totalling 1,900 km2.
Shares in Helium One closed down 4.1% at 5.45 pence in London on Wednesday.
By Jeremy Cutler Alliance News reporter
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Helium One (HE1)