Proactive Investors - Helium One Global Ltd booked a loss of US$1.9mln in the six months to December 2022, broadly flat on the US$1.8mln loss booked in the comparable period a year earlier.
The company had net cash balance as at 31 December 2022 of US$13.7mln.
During the period, Helium One raised £9.9mln to fund drilling at the Rukwa Basin project, currently planned for the third quarter of this year.
Post the period end, Lorna Blaisse was appointed chief executive.
The company has also been working on sourcing a rig and on developing further targets.
"Securing a rig for the planned campaign at Rukwa is the company's number one priority and the team is working tirelessly to ensure this happens swiftly,” said Ian Stalker, chairman of Helium One.
“The exploration work that has been carried out to date has significantly de-risked the Rukwa project and we are excited about the drilling programme which we believe has the potential to prove up what we believe to be a world class helium province.”