Helium One Global raises funds for 2nd Rukwa prospect
–News Direct–
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) CEO Lorna Blaisse speaks to Thomas Warner from Proactive after the London-listed helium exploration company announced it has raised gross proceeds of 6.8 million (US$8.5 million) via a placing, subscription and a retail offer.
Blaisse explains that the funds will primarily be used to drill at the Itumbula prospect that lies in the same Rukwa Basin that hosts the Tai-C well that is the company's current focus. She describes it as an independent closure, saying its boasts structural similarities to the Tai prospect.
The company aims to test a faulted three-way closure, focusing on the Kuru target, at depths of about 1200 meters. She goes on to give an update on progress at the Tai-C Well, where the company has been preparin...