AUD 12 Million Raised by Noble Helium for North Rukwa Drilling
Latest Tanzania finance news · AUD 12 Million Raised by Noble Helium for North Rukwa D… explained · 2026 updates · updated Aug 11, 2026 · economy news · GDP · investment
TLDR
- Noble Helium Limited (ASX:NHE) has raised AUD 12 million and contracted a drilling rig for its Kinambo campaign at the North Rukwa helium project in Tanzania, ending the June 2026 quarter with AUD 6.689 million in cash.
- Noble Helium Limited (ASX:NHE) raised AUD 12 million and converted AUD 6.603 million of debt to equity during the June 2026 quarter, ending with AUD 6.689 million in cash, according to its latest quarterly report.
- The rig is expected to mobilise to the North Rukwa site in August 2026, after site preparation works and the delivery of long-lead items required for the Kinambo campaign got underway during the quarter.
- The company converted AUD 6.603 million of existing loans into equity during the quarter, reducing its debt load as it moves toward the start of drilling.
- Exploration and evaluation expenditure for the quarter totaled AUD 3.441 million, reflecting spending on the Kinambo site works, seismic reprocessing, and preparations ahead of the planned drilling campaign.