Helium One Global Limited reported significant progress in its Tanzanian and U.S. projects in its interim results for December 31, 2024. Key developments include a well test at Itumbula West-1, a Mining License application for Rukwa, and a 50% stake in the Galactica-Pegasus project. The company is well-funded with a cash position of $10.02 million and maintains a ‘Buy’ rating in market sentiment.
Helium One Global Limited has issued its unaudited interim results for the six months ending December 31, 2024, detailing considerable advancements in its projects located in Tanzania and the United States. Notably, the company conducted an extensive well test at Itumbula West-1, achieving helium flow rates of up to 7.9%. Furthermore, an application for a Mining License for the Rukwa Helium Project was submitted, and the Tanzanian Mining Commission issued an offer letter, marking important milestones for the company.
Additionally, Helium One has acquired a 50% stake in the Galactica-Pegasus project situated in Colorado, USA, where it has initiated a development drilling program encompassing six wells. These initiatives are designed to mitigate the company’s risk and capitalize on immediate revenue opportunities, thereby positioning Helium One for prospective growth. The firm reported a robust cash position of $10.02 million as of December 31, 2024.
Helium One Global Limited serves as a principal helium exploration entity, listed both on the AIM segment of the London Stock Exchange and the OTCQB in the United States. The company, which specializes in helium exploration, possesses valuable prospecting licenses in Tanzania and a 50% interest in a U.S. project. Its flagship endeavor, the Rukwa Helium Project, located in southern Tanzania, is progressing to the appraisal stage following successful exploration efforts and well tests.
For 2024, Helium One has observed a year-to-date stock price performance of 13.89% and experiences an average trading volume of approximately 43,514,458. The technical sentiment consensus indicates a ‘Buy’ rating, with the current market capitalization standing at £60.4 million.
In conclusion, Helium One Global Limited has made significant strides in its helium exploration projects in both Tanzania and the United States, ensuring continued development and potential revenue generation. The successful well tests and the strategic acquisition of interests in U.S.-based projects underscore the company’s strong position in the helium industry, supported by a solid financial foundation.
Original Source: www.tipranks.com
