Noble Helium Raises A$13.5mm in Equity Instead of Planned Farmout

Noble Helium has raised A$13.5mm through a two-tranche placement. The funds will be utilised to drill the company's first exploration well and acquire long lead items for the second exploration/appraisal well at the North Rukwa Helium Project in Tanzania. By terminating the farmout agreement and opting for an equity-funded solution, the company retains 100% control of the project. The drilling campaign aims to target the Mbelele Basin Margin Fault Closure plays and estimate a mean Prospective Helium Resource of 16.5Bcf.

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