Helium One raise £10m to fast-track development of Rukwa project in Tanzania

‘s () David Minchin talks to Proactive London about the £10mln raised through an oversubscribed subscription and placing at 10p per share.

Proceeds will be used for fast-tracking the Rukwa project in Tanzania and to keep equipment in the field for appraisal work after a drilling programme completes.

Minchin says ‘now was the time for us to pull that trigger’ to also be able to carry out seismic studies over any discovery to maximise conversion to reserves and allow the field appraisal programme to be completed by the end of 2021.