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Helium One Global Limited ( (GB:HE1) ) has shared an update.
Helium One Global Ltd announced the spudding of the State-9 development well at its Galactica helium project in Colorado, marking the sixth well in the development campaign. The project, in collaboration with Blue Star Helium, aims to explore the Lyons Sandstone Formation, with plans to estimate production potential through wireline logging and flow testing. This development is part of the broader Galactica/Pegasus project, which could significantly enhance Helium One’s position in the helium market by expanding its production capabilities and addressing global helium supply constraints.
Spark’s Take on GB:HE1 Stock
According to Spark, TipRanks’ AI Analyst, GB:HE1 is a Underperform.
Helium One Global’s weak financial performance, characterized by continuous losses and lack of revenue, significantly impacts its stock score. While promising corporate developments offer potential future growth, the current financial instability and negative valuation metrics weigh heavily. Mixed technical indicators add further caution to the outlook.
To see Spark’s full report on GB:HE1 stock, click here.
More about Helium One Global Limited
Helium One Global Ltd is a Tanzanian-based helium exploration company listed on the AIM market of the London Stock Exchange. It holds prospecting licenses across two distinct project areas in Tanzania and has a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA. The company aims to become a strategic player in the helium market, addressing supply constraints with its projects that include the Rukwa and Eyasi projects in Tanzania, and the Galactica project in the USA.
Average Trading Volume: 46,016,169
Technical Sentiment Signal: Sell
Current Market Cap: £49.74M
Learn more about HE1 stock on TipRanks’ Stock Analysis page.