Noble Helium reported Q1'24 results highlighting its lab results confirming helium concentrations of 2.46% at the Mbelele prospect in the North Rukwa Project, Tanzania. Detailed well data analysis suggests the free gas cap at Mbelele could be six times larger than initially estimated, showing significant commercial production potential. There were also a few leadership change with Shaun Scott becoming MD and CEO, Prof Andrew Garnett transitioning to Non-Executive Chairman, and Justyn Wood continuing as Executive Director. The company ended the quarter with A$2.2mm in cash, with an additional A$1.8mm on deposit with Marriott Drilling. After the quarter's end, a Share Purchase Plan was launched to raise up to A$3.5mm, with the closing date extended to 10th May 2024. Lastly, the company also released its latest corporate presentation discussing its Mbelele Project and 2024 plans in detail.
top of page
bottom of page
Comments