RE: Fundamentals haven’t flinched 📈9 Apr 2026 11:02
I think people need to be reminded of the last RNS released regarding a Rukwa update.
Forward Plan
The Company will now continue to evaluate the results of this test. In particular, it will seek to increase its understanding of the sources and interaction of the helium enriched fluids that have been identified. This will require further drilling and testing, which will likely focus on primary fractured Basement targets at other locations across the 480 km2 Mining Licence area. A number of these targets have already been identified by the Company, and many of these are at shallower depths where the Basement is juxtaposed against faults.
During this evaluative phase, the Company will also consider additional data acquisition options which will enable a more detailed evaluation of Basement fractures and connectivity. Future work programmes will need to focus on appraising the full potential of the Basement helium play.
In order to assist with further trajectory towards development of the southern Rukwa Helium Project, the Company believes that now is an appropriate time to seek third party financing. To this extent, the Company will now embark upon a formal farmout process that will identify and select a suitable industry partner.
So ignore what some on here are posting & keep this in your mind . They still do not fully understand what they have & are looking to drill elsewhere to find better understanding. And they need outside money to do it . It’s not a commercially viable project yet !