Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) told investors it has now formally accepted the offer of a Mining Licence for its southern Rukwa Helium Project in Tanzania, marking an important milestone for the project.
The Rukwa licence covers 480 square kilometres in the southern Rukwa Basin – and alongside the licence, the company also has been issued an Environmental and Social Impact Assessment and it has paid the first annual licence fee.
A formal award of the licence will follow in due course, Helium One said.
"We are very pleased to have accepted this offer of the first helium ML in Tanzania and we look forward to further appraising and developing this project,” chief executive Lorna Blaisse said.
She added: “It is a huge achievement for the company to have progressed from flowing first helium to surface in August 2024 - following the extended well test at Itumbula West-1 - to receipt of a ML in just over six months.”
Separately, in the United States, Helium One said it has spudded the Jackson-29 development well at the Galactica project in Colorado.
Following drilling, wireline logging and flow testing will be conducted, and, subject to results, will be tied into production facilities.
The company holds a 50% working interest in the Galactica-Pegasus development.