HE1 income steams24 Sep 2024 09:41
With the diversification of the Helium portfolio - HE1 have a potential $10m return for a $2.6m investment, this excluded the additional licences.
"The initial [Galactica-Pegasus] programme, which has been funded by the capital raise, will require the drilling of six development wells which are planned for Q4 2024. Once these are complete, it is forecast that the sale of He and CO2 from these initial wells, will generate sufficient cash to fund the drilling and tie-back the remaining nine wells as the project is close to existing helium processing facilities, associated infrastructure and downstream users," Helium One said.
The initial wells are expected to be on stream and producing in the first six months of 2025.
An independent third-party report indicates that an average of approximately USD2 million per annum will accrue to Helium One over five years from the production of helium, with increases of up to 50% once sales of CO2 to local markets begin." - Source Alliance News 27th August 2024