TIDMHE1
RNS Number : 9866W
Helium One Global Ltd
29 April 2021
29 April 2021
Helium One Global Ltd
Mobilisation of Drill Rig, Commencement of trading on the OTCQB
Venture Market and Investor Presentation
Helium One (AIM: HE1) ("Helium One" or "the Company") is pleased
to update the market on progress at its Rukwa Project (100%) in
Tanzania with drilling rig and equipment mobilised to a forward
holding yard and announce that the Company's ordinary shares will
cross-trade publicly on the US OTCQB Venture Market ("OTCQB"),
under the ticker HLOGF with effect from market open in the US
today.
Highlights:
-- Mobilisation of drilling rig and equipment from locations in
Tanzania and Mozambique to a forward holding yard near Mbeya,
approximately 100km from Rukwa
-- Camp established at Rukwa ready to accommodate workers ahead of drilling
-- Support systems and ancillary materials on route from China,
South Africa, USA, Canada, Australia and the UK
-- Trading on the US OTCQB Venture Market ("OTCQB"), under the
ticker HLOGF commencing 29 April 2021
-- David Minchin CEO to provide a live investor presentation via
the Investor Meet Company platform on 6th May 2021 at 3:00pm
BST
David Minchin, Chief Executive Officer, commented:
"We are delighted to report on continued progress at the Rukwa
project with our on the ground team commencing the process of
mobilising the drill rig and support equipment to site. Mobilising
a project of this size requires time and planning. Equipment from a
wide range of sources will be collected at a forward holding yard
near Mbeya before travelling in convoy to the first well
location.
"Management has worked tirelessly to deliver this project on
time and I am immensely proud of the achievements of all involved
as we look to deliver our maiden drilling programme on schedule in
mid-May.
"The Company is seeking to encourage the significant interest
that our Rukwa project has generated internationally with the
commencement of trading of our shares on the OTCBQ. The US has a
significant interest in helium as a commodity and we hope that the
visibility we gain will further broaden our shareholder base and
increase shareholder demand in one of the major helium markets of
the world."
Drilling Update
Helium One has this week commenced mobilisation of a drilling
rig and ancillary equipment to a forward holding yard near Mbeya.
The yard, situated roughly 100km from the project area, provides a
secure base to collect together materials from a range of sources
prior to final delivery to the first drilling location.
Although the drill rig itself is mobilising from a location in
Tanzania, the Company is working with a range of service providers
to bring ancillary and support equipment to Rukwa from all over the
world. Items in transit include casing from China, drilling mud
additives from South Africa and Canada, wireline tools and testing
equipment from USA and Australia, and bridge-plugs for secure
suspension of discovery wells imported from the UK.
On the ground activity at Rukwa continues to ramp-up while we
await final ESIA approval with the establishment of a secure,
fenced, tented accommodation camp facility to house up to 50
workers and specialists for the duration of the drilling
campaign.
Mobilisation is progressing on time to allow the Company to
achieve its target spudding date of mid-May.
OTCQB Cross Trading
Trading on the US OTC market is due to commence today at market
open in the US and will have no impact on the Company's existing
ordinary shares trading on the AIM Market of the London Stock
Exchange. No new ordinary shares were issued as part of the
cross-trade. The Group will continue to make announcements and
disclosures to the London Stock Exchange through the Regulatory
News Channel and has no Sarbanes-Oxley or SEC reporting
requirements.
The cross-trading facility is provided through OTC Markets Group
Inc., located in New York. OTC Markets operates the world's largest
electronic interdealer quotation system for US broker dealers and
offers multiple media channels to increase the visibility of
OTC-listed companies. Independent studies show that trading on the
OTC by an international company offers a positive effect on the
liquidity of its shares.
The Company would like to thank Nikolaos Galanopoulos of
Galanopoulos & Company, the corporate securities law firm that
acted as Sponsor for the Company's application to commence
cross-trading on the OTCQB board of the OTC Markets.
Investor Presentation
David Minchin CEO will provide a live investor presentation via
the Investor Meet Company platform on 6th May 2021 at 3:00pm BST.
The presentation will provide an update on the progress on the
Company's exploration activities on the Rukwa Project this year,
including an update on preparations for our maiden drilling
programme, and will also outline anticipated post-discovery
activities for the year ahead.
The presentation is open to all existing and potential
shareholders. Questions can be submitted pre-event via the Investor
Meet Company dashboard up until 9am the day before the meeting or
at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and ask
to meet Helium One Global Ltd via:
https://www.investormeetcompany.com/helium-one-global-ltd/register-investor
Investors who already follow Helium One Global Ltd on the
Investor Meet Company platform will automatically be invited.
For further information please visit the Company's website:
www.helium-one.com
Contact
Helium One Global Ltd
David Minchin, CEO +44 20 7920 3150
Beaumont Cornish Ltd (Nominated
Adviser)
James Biddle
Roland Cornish +44 20 7628 3396
Canaccord Genuity Limited (Joint
Broker)
Adam James +44 20 7523 8000
Peterhouse Capital Limited (Joint
Broker)
Lucy Williams +44 20 7220 9792
Pello Capital (Retail Broker)
Callum Hill +44 20 3700 2500
Tavistock (Financial PR)
Nick Elwes +44 20 7920 3150
Notes to Editors
Helium One has identified a globally unique, large-scale,
high-grade, primary helium project in Tanzania with the potential
to become a strategic asset in resolving a supply-constrained
market.
Helium One's assets are located within the rift basins on the
margin of the Tanzanian Craton. Through Helium One's subsidiary
companies Gogota (Tz) Limited, Stahamili (Tz) Limited and Njozi
(Tz) Limited, the Company has secured 18 Prospecting Licences
covering more than 4,512 km(2) in three distinct project areas: the
Rukwa, Balangida and Eyasi projects. These are located near surface
seeps with helium concentrations ranging up to 10.5% He by
volume.
The Rukwa Project is located within the Rukwa Rift Basin
covering 3,448km(2) in south-west Tanzania. The project is
considered to be an advanced exploration project and the company
has identified 4 prospects and 21 leads based on historical
drilling, reprocessed seismic lines, high resolution gravity
survey, and surface seep analyses.
SRK Consulting have reported a 'Best Estimate' Un-risked
Prospective Resource of 138 Bcf (2U/P50) for the Company's Rukwa
Project, meaning that the project has potentially strategic global
implications with the ability to significantly resolve helium
supply/demand issues.
All Helium One's licences are held on a 100% equity basis and
are in close proximity to the required infrastructure.
Helium One is listed on the AIM market of the London Stock
Exchange with the ticker of HE1.
Disclaimer
Beaumont Cornish Limited ("Beaumont Cornish"), which is
authorised and regulated in the United Kingdom by the FCA, is
acting as Nominated Adviser ("Nomad") to the Company in connection
with the matters contained in this announcement, and will not be
acting for any other person or otherwise be responsible to any
person for providing the protections afforded to clients of
Beaumont Cornish or for advising any other person in respect of the
matters set out in this announcement or any transaction, matter or
arrangement referred to in this announcement. Beaumont Cornish's
responsibilities as the Company's Nomad are owed solely to London
Stock Exchange and are not owed to the Company or to any Director
or to any other person in respect of his or her decision to acquire
any shares in the Company. Furthermore, Beaumont Cornish has not
approved or authorised the release of this announcement in whole or
in part, directly or indirectly into The United States, Canada,
Australia, Japan or The Republic of South Africa or any other
jurisdiction in which such release, publication or distribution
would be unlawful.
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END
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