Helium One's £8 million funding boost for Itumbula West Project

Helium One Global Ltd CEO Lorna Blaisse talked with Proactive's Stephen Gunnion about the company's successful fundraising and its implications for the Itumbula West project. Helium One Global has raised £8 million, which will enable it to proceed with its Phase 3 operations, including the critical extended well test (EWT) on Itumbula West.
Blaisse explained that this funding is pivotal for demonstrating the commercial viability of the project, following a successful well test that showed a 4.7% concentration of helium. She emphasized the importance of moving forward despite the challenging fundraising environment and the constraints faced during the placing process.
She said the EWT aims to prove the commerciality of the helium prospect, assess helium concentrations, and evaluate reservoir performance. Additionally, the funds will support the completion of a feasibility study, which will be crucial for applying for a mining license.
Blaisse outlined the next steps, which include mobilising long lead items and crew to the site, continuing subsurface work, and preparing for the extended well test. This extensive testing process will help establish long-term flow rates and further validate the project's potential.
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