A £10m placing by Helium One Global (LON: HE1) proved highly popular with investors. More than double the cash could have been raised at the 10p placing price, which was more than treble the previous placing price.
The company’s focus is the 100%-owned Rukwa helium project in Tanzania. There was already enough cash in the bank to drill the three anticipated exploration wells in the next few months. The additional funds will enable the drilling rig to be retained for additional appraisal and more 3D seismic can be acquired. There could have been at least four months delay without the additi...
