Helium One Global (HE1) H1 2025 earnings summary

Executive summary

• Completed extended well test at Itumbula West-1 in Tanzania, flowing up to 7.9% helium to surface.

• Submitted and received an offer for a Mining License for the southern Rukwa Helium Project.

• Acquired a 50% interest in the Galactica-Pegasus helium project in Colorado, USA.

• Commenced initial six-well development drilling at Galactica-Pegasus, with first wells expected online by end of H1 2025.

Financial highlights

• Reported unaudited pre-tax loss of $1,927,896 for the six months ended 31 December 2024, compared to $1,064,747 loss in the prior year period.

• Net cash balance of $10.02 million as of 31 December 2024, up from $8.74 million a year earlier.

• Raised gross proceeds of £6.4 million (~$8.2 million) in August 2024 to fund the Colorado acquisition.

• Total comprehensive loss for the period was $1,815,746.

Outlook and guidance

• Initial wells in Colorado expected to be producing by end of H1 2025, with projected annual revenue of ~$2 million from helium sales, potentially increasing by 50% with CO2 sales.

• Focus remains on progressing the Mining License and development at Rukwa and achieving first production and revenue in the USA.