Noble Helium Raises A$13.5mm in Equity Instead of Planned Farmout
- Jun 5, 2023
- 4 min read
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.
