Following today’s announcement that Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has kicked off drilling for the Tai-3 well in Tanzania, analysts at SP Angel suggested the group is now “fully funded” to move onto a second exploration well on the Itumbula prospect ahead of the wet season.
Helium One previously suggested that Itumbula drilling would commence immediately after the Tai-C programme, using proceeds from a £6.8 million subscription and retail offer.
Ondine Biomedical Inc (AIM:OBI) said first-half results were in line with expectations as it looks ahead to a phase three study of Steriwave, its nasal photodisinfection candidate.
A challenging economic backdrop and unfavourable stock markets meant the deferral of 2023 fundraising plans but the Canadian company said it made significant progress nonetheless.
University spinouts have seen a first drop in investment for more than a decade, according to a new report.
Parkwalk, the UK’s largest spinout investor, commissioned a report showing the number of funding deals rising to a record 414 last year, but the value fell by £400 million to £2.3 billion and has tumbled to £743 million in the first half of 2023.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) told investors that drilling has now kicked off for the Tai-3 well in Tanzania.
Drilling began earlier on 25 September and is slated to comprise around 1,100 metres with target depth (TD) anticipated within two weeks.
Pantheon International PLC (LSE:PIN) has released further details on its £200 million share buyback scheme announced in August.
Since that announcement, Pantheon has bought approximately £7.35 million from the market at prices ranging from 269.5p to 281.5p.
Empire Metals Ltd (AIM:EEE) has raised £3 million to expand its drilling plans at the Pitfield deposit in Western Australia.
A 1,500-metre diamond core programme is already underway with this additional funding earmarked for a second phase of reverse circulation exploration in early 2024 focusing on very dense zones recently identified within the magnetics anomaly.