Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has confirmed that the Itumbula West-1 extended well test (EWT) remains on schedule for early Q3 2024.
The company, in a statement, also announced it has now launched an Environmental and Social Impact Assessment (ESIA) study which will be a requirement for securing a mining licence for the project.
It is also noted that it is continuing work with the Tanzanian government and the country’s mining commission to move the Rukwa project towards commercialisation.
Operationally, it has hired a production facilities management company to commence a design study for a helium production plant. And it has strengthened the company’s technical team in order to progress the Phase III work programme.
"We are very pleased to be advancing into this next stage of the Rukwa Project - Phase III,” chief executive Lorna Blaisse said.
“Whilst we are preparing for the next operational phase, which includes the EWT at Itumbula West-1, we are growing the team to deliver the large amount of work that is continuing in the background and that will enable us to progress the project as quickly as possible.”
Blaisse added: “The ESIA will form part of the feasibility study that will be submitted to the Mining Commission in order to convert the existing prospecting licences to mining licences.
“The newly recruited team has already commenced this workstream, and we are grateful for the continued support from the government and the mining commission in Tanzania, as we move the project forward in the next phase of its development towards commercialisation.”