Noble Helium to Raises A$3mm for Exploration and Dual Listing

Noble Helium secured commitments to raise A$3mm through a placement of ~67mm shares at A$0.045/sh, a 17% discount to the last trading price. The funds will be used for exploration in the North Rukwa and North Nyasa basins, exploration licence renewals, and preparatory work for a dual listing on AIM. The drilling rig is expected to be onsite in October for deeper target exploration in the North Rukwa basin. Recently, there has been quite a bit of activity in the UK for helium companies. Since the beginning of the year, there have been 2 AIM IPOs (Helix and Georgina) and one more in the pipeline (Pulsar). There have been several companies on AIM pivoting into helium too such as Mosman and Ascent.

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