Helium One Global has had its share price target tweaked upwards at from broker Liberum following the new CRR published today for the Tai prospect in Tanzania.
Describing the increase as “material, Liberum now puts a fair price on the shares of 20p, up from 19p, and against 7.1p, up 4%, in the market.
According to the updated CPR, there are 2.8Bcf of prospective helium resources across six reservoirs, representing a 61% increase on estimates from 2020.
More importantly, suggests Liberum, the upgrade validates HE1’s prospect inventory ahead of the much-anticipated drilling campaign later this year.
In addition, global helium prices remain elevated, a trend that is showing no signs of abating given increasing demand and declining inventories.
'Buy' is Liberum’s view.