More positive reports from the Investment ( not day by day gamblers) community11 Apr 2024 08:15
Investment firm Liberum gave a bullish take on Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF)’s update on the Itumbula West-1 extended well test (EWT).
“Investors will take encouragement that HE1 progresses its operational programme following its recent drilling success,” said Liberum analysts.
“Successfully flowing high concentrations (4.7%) of helium to surface from Itumbula West-1 represents a crucial step in determining a commercial discovery.
“The company will now fully evaluate the results from both wells in their Phase II drilling campaign before carrying out an extended well test (EWT) later this year and determining a further work programme, which could include an appraisal well on Itumbula and the deepening of Tai-3 to prove up additional volumes of helium in the Basement."
The stock is a buy, with the current 1.3p share price “currently trading at a compelling discount”, said Liberum.