RE: Good news, ML accepted31 Mar 2025 10:55
Content from the link:
'Helium One (HE1 LN) 1.0p, Market Cap £60m: Tanzania and Colorado updates
• Helium One announced formal acceptance of the Mining Commission in Tanzania offer of a Mining Licence for an area of ~480 sq km that will cover all of the southern Rukwa Helium project (100% WI).
• The next steps will be the formal award of the Mining Licence, with the Company continuing the planning stage for moving the project forward towards development of the helium resource in southern Rukwa.
• Separately, Blue Star Helium (BNL AU) announced the Jackson-29 development well has been spudded at the joint venture’s Galactica helium project (50% WI) in Las Animas County, Colorado.
• At TD wireline logging will be conducted, followed by flow and pressure readings at the wellhead, with the data contributing to the development model being built from existing data collected and publicly available.
A positive update from Helium One’s operations in both Tanzania and the USA, which provide the portfolio with both geographic diversification and exposure to potential near-term helium production that remains slated for 1H25.
In Tanzania, much will now depend on the Company’s discussions with potential off-takers and industry partners on the significant financing required to develop a greenfield helium project in a frontier region of Africa.
In Colorado, the ongoing Galactica drilling campaign provides the JV with additional data as it advances engineering work related to CO2 removal, purification and sale prior to helium processing via an IACX helium recovery unit.'