Helium One Global Ltd (LON:HE1) has begun the mobilisation of a drill rig ahead of a pivotal programme at the Rukwa helium project in Tanzania.
The drill rig and equipment will be moved to a holding yard near Mbeya, about 100 kilometres from Rukwa. At the same time, a camp has been established at Rukwa ready to accommodate workers ahead of drilling, Helium One said.
READ: Helium One raises £10mln to fast-track Rukwa
Chief executive David Minchin said the company looks set to deliver the maiden drill programme on schedule in mid-May.
"We are delighted to report on continued progress at the Rukwa project with our on the ground team commencing the process of mobilising the drill rig and support equipment to site,” Minchin said.
“Mobilising a project of this size requires time and planning. Equipment from a wide range of sources will be collected at a forward holding yard near Mbeya before travelling in convoy to the first well location.”
Also, Helium One today opens its shares to an American audience with a listing on the US OTC market, with the shares quoted on the OTCQB Venture Market under the ticker ‘HLOGF’.
"The company is seeking to encourage the significant interest that our Rukwa project has generated internationally with the commencement of trading of our shares on the OTCBQ.
“The US has a significant interest in helium as a commodity and we hope that the visibility we gain will further broaden our shareholder base and increase shareholder demand in one of the major helium markets of the world."
On AIM, meanwhile, Helium One shares started Thursday rising just over a penny or 6.36% to change hands at 17.97p.