Georgina Energy Advances Rig Talks and Site Works for 2026 Hussar Drilling

Mining, Minerals & Metals plc ( (GB:GEX) ) has provided an update.

Georgina Energy has provided an update on preparations for drilling at its Hussar subsalt helium, hydrogen and hydrocarbons prospect in EP513, Western Australia, where it holds a 100% working interest. The company is negotiating the use of Ensign Energy’s 970 automated drilling rig while also evaluating alternative rigs, as it finalises access planning for water well drilling and upgrades to roads and an airstrip to support rapid mobilisation.

The company confirmed that civil engineering access and site works remain on track to begin in the second quarter of 2026, enabling drill testing of the Hussar prospect in the third quarter of 2026. Working under an off-take framework with Harlequin Energy, which is expected to fund the Hussar well and subsequent field development, Georgina is issuing requests for quotations for key well construction services, underscoring steady progress toward unlocking one of onshore Australia’s largest subsalt gas prospects.

The most recent analyst rating on (GB:GEX) stock is a Hold with a £6.00 price target. To see the full list of analyst forecasts on Mining, Minerals & Metals plc stock, see the GB:GEX Stock Forecast page.

Spark’s Take on GB:GEX Stock

According to Spark, TipRanks’ AI Analyst, GB:GEX is a Neutral.

The score is primarily constrained by very weak financial performance (no revenue, widening losses, sustained cash burn, and negative equity with increased debt). Technical indicators provide some offset via moderate positive momentum and price strength versus key longer-term moving averages, while valuation cannot be evaluated due to missing P/E and dividend data.

To see Spark’s full report on GB:GEX stock, click here.

More about Mining, Minerals & Metals plc

Georgina Energy plc is an aspiring global energy company focused on becoming a leading producer of helium and hydrogen, targeting the growing supply-demand gap in these critical gases. Through its Australian subsidiary Westmarket O&G, it holds or is acquiring 100% interests in onshore prospects including the Hussar permit in Western Australia, EPA155 Mt Winter, and potential re-entry projects at Mt Kitty and Dukas in the Northern Territory.

These assets are located in subsalt helium, hydrogen and hydrocarbon plays within the Officer and Amadeus basins, where prior drilling has encountered high concentrations of these gases. The company aims to leverage its technical partners and management expertise to position itself as a key supplier to emerging industrial and energy markets reliant on helium and hydrogen.

Average Trading Volume: 2,330,215

Technical Sentiment Signal: Sell

Current Market Cap: £7.27M

For detailed information about GEX stock, go to TipRanks’ Stock Analysis page.