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Noble Helium Raises A$14mm for Mbelele Appraisal & Testing

Noble Helium secured firm commitments from investors, raising A$14mm for its Mbelele program, focusing on appraisal and testing at the North Rukwa Helium Project in Tanzania. The placement of ~108mm shares is at a price of A$0.13/sh (a 23.5% discount from the last closing price and a 36% discount to the 15-day VWAP). The funds will be utilised for rapid appraisal and testing of the identified gas cap and deeper sections. The company also plans to advance commercial negotiations for a leased plant and offtake agreement. The company released its investor presentation discussing the Mbelele Project in detail and elaborating on the A$14mm capital raise.

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