Noble Helium Discovers Probable Free Gas Cap at Mbelele Is Much Larger Than Previously Indicated

Noble Helium Ltd (ASX: NHE) plans to monetise the prolific helium potential of its North Rukwa Project in Tanzania.

Noble received a major boost after further detailed analysis and integration of data that indicates the probable free gas cap at Mbelele to be significantly larger and scale.

Major highlights

  • The Probable free gas cap at Mbelele is six times larger than originally mapped.
  • The Probable free gas cap could underpin short-term monetisation options on a standalone basis.
  • EOI process for low-cost drilling kit for appraisal programs is attracting significant interest.

This could underpin a short-term monetisation plan on a standalone basis.

The opportunity comes as negotiations are already advanced with potential off-takers to manage logistics and fund downstream facilities.

Helium market

The global helium market size is expected to grow from an estimated US$5 billion in 2023 to over US$8 billion in 2030.

Priced at up to 50 times the price of LNG in liquid form, helium is now essential to many modern applications.

These include vital hi-tech products such as computer and smartphone components, MRI systems, medical treatments, superconducting magnets, fibre optic cables, microscopes, particle accelerators, and space rocket launches.

NASA is a major consumer.

North Rukwa Project

The North Rukwa Project is the company’s flagship project located in the Rukwa Basin in southwest Tanzania.

It comprises twelve granted Prospecting Licences covering a combined area of approximately 1,467 square kilometres.

The project area is accessible by road via the TANZAM highway from Dar es Salaam to Mbeya at the southern end of Lake Rukwa.

Additionally, Noble Helium has commissioned the first-ever Helium Atlas, with an exclusive five-year agreement allowing it to identify additional prospective areas to target for diversification

 

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