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Western Sierra plans Equity Raise for Helium Development

Western Sierra Resource Corporation (WSRC), a US based natural resource explorer, has laid out a plan to raise ~US$25 million to boost helium exploration on its assets in Colorado along with other purposes such as debt retirement and cultivation of industrial hemp. It has 12 helium prospects and plans to drill one a month over the following year. WSRC announced mid-2021 that it had entered into negotiations with a third-party exploration company to develop the 25,000-acre FCHPA Helium Production Project in the Four Corners Area.

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Helium One ended 2022 with a net cash balance of US$13.7mm, providing ample cash for its upcoming drilling campaign. In H2'22, cash outflow from operations was US$1.6mm and capital expenditure US$1.5m

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