Im holding :)27 Aug 2024 16:38
Let's start with the longest-established of the quartet, Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF). Until recently, its focus has been Tanzania’s Rukwa Rift Basin, which over the last decade became a hotbed of oil and natural gas exploration. Under the leadership of chief executive Lorna Blaisse, the company is now showing tangible results from its exploration and development activities. An extended test on its Itumbula West-1 well successfully flowed helium in concentrations of up to 7.6%—a very good grade by global standards—at an average of 786 barrels per day from Itumbula's faulted Karoo interval. Over a five-day test period, ITW-1 averaged 5% helium. CEO Blaisse declared herself "very pleased" with the results, adding, "This is a globally unique helium play, and it has taken a lot of hard work and collective effort across multiple disciplines to establish how this system works in the southern Rukwa Basin."
In a forward-thinking move, Helium One has acquired an American asset that could begin production by mid-next year, generating cash that could then be reinvested in Tanzania. The planned $6.75 million purchase of a 50% working interest in the Galactica Pegasus Helium Project in Colorado was lauded by City broker Panmure Liberum, which values Helium One’s stock at 3.44p—more than double the current price.