Noble Helium Ltd (ASX:NHE) has secured firm commitments to raise $12.0 million through a two-tranche institutional placement, providing funding for its upcoming North Rukwa exploration drilling program in Tanzania. The capital raising was priced at $0.029 per share and attracted strong support from new and existing Australian and international institutional investors.
The placement provides the company with funding certainty as it advances exploration activities, with proceeds earmarked primarily for drilling at North Rukwa alongside associated technical, appraisal and early-stage commercial work.
The issue price of A$0.029 per New Share represents a 24.3% discount to the 15-day VWAP of A$0.038 and a 40.8% discount to the last closing price of A$0.049 on March 31, 2026.
The New Shares will be issued via two tranches:
- Tranche One: 137.9 million Placement Shares will be issued from the Company’s placement capacity under Listing Rules 7.1 and 7.1A; and
- Tranche Two: The Company will seek shareholder approval at an Extraordinary General Meeting (“EGM”), which is expected to be held in May 2026, for the issue of the remaining 275.9 million Placement Shares. Details of the EGM will be announced once confirmed and a notice of meeting will be dispatched as soon as practicable.
“The last 12-months have been challenging for Noble Helium and its shareholders. We have worked incredibly hard to address a number of historic commercial and operational issues so the company can focus 100% on maximising the exploration and development potential of what could be some of the most significant helium acreage in the world," Noble Helium’s executive chairman, Dennis Donald, said.
“An institutional placement provides us with certainty of funding at a time when domestic and international markets and economies are under pressure. Strong institutional support, with substantial demand, is a welcome vote of confidence in the company’s strategic direction and acknowledges the severe helium supply constraints emerging from conflict in the Middle-East.
“Against this background, our upcoming drilling program in Q2 CY2026 is attracting widespread interest from large, established energy and gas aggregation companies. We will continue to evaluate these and other value-accretive growth and development opportunities including potential farm-outs and acquisitions as they arise.
“We’re excited about the potential of the North Rukwa project and its potential to become a significant player in the global helium market.”
Drilling program set for Q2 start
Funds will be directed toward the company’s planned drilling campaign, scheduled to begin in Q2 2026, as Noble Helium works to unlock the potential of its Tanzanian helium assets. The program will be supported by further technical studies, appraisal work and preparation for early commercialisation.
In parallel, the company said it is continuing to assess broader growth opportunities, including potential farm-outs and acquisitions, as interest in the North Rukwa project grows amid tightening global helium supply.
About Noble Helium
Noble Helium is focused on developing a large-scale helium supply source from Tanzania’s East African Rift System, where it holds 4 projects. The company is targeting growing demand for helium, a critical industrial gas used across a range of high-tech, medical and scientific applications, against a backdrop of tight global supply.
Helium is increasingly important in sectors such as electronics, healthcare, fibre optics, aerospace, quantum computing and advanced research, with market interest also building in non-hydrocarbon sourced supply. Noble Helium says its project portfolio has the potential to help address supply chain concentration and broader market imbalances.
The company is also assessing additional commercial opportunities that may complement its existing asset base, although it noted that these reviews remain incomplete and there is no certainty any transaction will proceed.