Helium One Global Limited has announced significant advancements in its Tanzanian and U.S. projects, including a successful well test at Itumbula West-1 and the acquisition of a 50% interest in Colorado’s Galactica-Pegasus project. The company has submitted a Mining License application for its Rukwa Helium Project and reported a cash balance of $10.02 million as of December 31, 2024.
Helium One Global Limited has recently provided its interim results for the six months ending December 31, 2024, reporting notable progress in its projects in both Tanzania and the United States. In Tanzania, the company successfully conducted an extensive well test at Itumbula West-1, achieving helium flow rates of up to 7.9%. Furthermore, it submitted a Mining License application for the Rukwa Helium Project, subsequently receiving an offer letter from the Tanzanian Mining Commission.
In addition to its Tanzanian initiatives, Helium One acquired a 50% stake in the Galactica-Pegasus project located in Colorado and has initiated a six-well development drilling program here. These advancements not only enhance the company’s risk profile but also provide promising opportunities for generating near-term revenue to support future investments. As of December 31, 2024, the company reported a strong cash position with a balance of $10.02 million.
Founded as a primary helium explorer, Helium One Global Limited is listed on the AIM segment of the London Stock Exchange and OTCQB in the United States. Its primary focus is on helium exploration, with holding rights to prospecting licenses in Tanzania and a significant interest in the Colorado project. The company is particularly focused on the southern Rukwa Helium Project, which is now entering the appraisal stage following successful exploration and well testing.
As for market performance, Helium One has recorded a year-to-date price increase of 13.89%, alongside an average trading volume of 43,514,458 shares. The technical sentiment consensus rating remains “Buy,” and the company currently holds a market capitalization of £60.4 million. Interested readers can find more data about Helium One’s stock on TipRanks’ Stock Analysis page.
Helium One Global Limited has made considerable strides in its exploration and development efforts in both Tanzania and the United States, highlighted by successful well tests and strategic acquisitions. As the company progresses towards generating revenue, its solid financial standing positions it favorably for future investments. Helium One’s commitment to helium exploration is reinforced by its expanding interests and positive market sentiment.
Original Source: www.tipranks.com
