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An announcement from Helium One Global Limited ( (GB:HE1) ) is now available.
Helium One Global Ltd has announced the advancement of its southern Rukwa Helium Project in Tanzania, with the procurement of an Electrical Submersible Pump (ESP) and associated equipment from CenerTech Group, part of the Chinese National Offshore Company. This development is expected to enhance flow rates and provide more detailed information on gas composition, aiding in the optimization of helium production. Additionally, the company has voluntarily decided to delist from the OTCQB Venture Market due to insufficient benefits, while continuing to trade on the AIM market of the London Stock Exchange. The company has also relinquished two expired prospecting licenses in Tanzania to focus on its 480km² developable mining license area.
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 primary helium explorer operating in Tanzania and holds a 50% interest in the Galactica-Pegasus helium development project in Colorado, USA. The company focuses on helium exploration and development, with a strategic aim to address the supply-constrained helium market. Its flagship project is the southern Rukwa Project in Tanzania, which has entered a full appraisal and development stage after successful exploration and discovery of helium.
Average Trading Volume: 85,579,647
Technical Sentiment Signal: Sell
Current Market Cap: £23.85M
Find detailed analytics on HE1 stock on TipRanks’ Stock Analysis page.