Helium One Global (AIM: HE1), the primary helium explorer in Tanzania, is pleased to announce that, following the announcement on 20 December 2023 (the “Launch Announcement”) regarding the launch of a proposed placing (the “Placing”) and a direct subscription (the “Subscription”) (together, the “Fundraise”), the Company has raised gross proceeds of £6.1 million (approximately US$7.7 million) through the issue of an aggregate of 2,420,842,500 new ordinary shares of no par value in the capital of the Company (“Ordinary Shares”) at a price of 0.25 pence per Ordinary Share (the “Issue Price”). The Fundraise was oversubscribed.
Where next for the share price?
Looks like GAME OVER to me
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Im not invested… but I have been watching.
Certainly any buys at this stage are rolling the dice big style.
How do they get £6M in the door at this stage? Are these investors all millionaire mugs, heavy gamblers, or know something we dont? That’s the question.
Maybe a boiler room rip off?
Oh pants
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I wouldn’t be at all surprised now if HE1 are investigated for insider trading.
I know it’s an exploration company and sways on shit or bust, but their cash burn and sp drop has been unbelievable.
She issues cheques like a speed dealer at a poker table.
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I did genuinely wonder this. It’ll be interesting to see if any Board members buy shares at this low price, dor them to then announce a string of positive news…
Well……… this was a fun ride while it lasted, I will leave the shares as there is no point in selling but I do believe this is completely dead in the water now.
Hope you all have not lost to much
I wish that was the case. £9.6k
Wtf, how can just sell for this price to private investors?
Guess they are just trying to keep the money tap turned on. With no product to sell, other than wishes, what else can they do? Serious question.
BTW I’m at 98.7% loss. Which is a record for me. I even lost less on Cineworld!!
Is there any reconvery? How could they possibly work their way back? They just have everything stakes
On my Itumbula I guess
Recovery rests on discovery, and a big one at that. Second option is a company buyout but unlikely.
Sp could rise slightly if LB resigns. “X” tweets are not taking any prisoners today.
Best thing I can do now, is resign myself to that huge loss, anything else is a bonus.
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So surely, today is the lowest it will go? Without going bust I mean. And if they’ve secured drill money, and they appoint a new chief, then the only way is up???
Your right X (Twitter) ain’t holding back at all! They are out for blood
Nice made £300 today 
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Is this company completely f’ed now? Will it make 3 or 4 p again if they strike gold
They’ve exhausted all funding options now. If they don’t find a large reserve in this Itumbulla spud, then HE1 is finished.
They need an exceptional find, and conduct a major share buyback to rescue the SP.
And as a nice touch, LB needs to resign.
Even if (and if is doing a fair bit of heavy lifting in this sentence ) they did find helium in quantity they would still need a further big influx of money to exploit the find as they would still be a fair journey away from having a saleable product and making a profit.
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They could, and probably would sell the licence to extract at that point.