Unaudited Interim Results

Helium One Global Ltd

26 March 2026

 

26 March 2026

Helium One Global Ltd

("Helium One" or the "Company")

Unaudited Interim Results for Six Months Ended 31 December 2025

Helium One Global (AIM: HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA ("the Galactica Project"), is pleased to announce its unaudited condensed and consolidated results for the six months ended 31 December 2025.

Summary 

·    Formally awarded a 480km² Mining Licence ("ML") for the southern Rukwa Helium Project, the first helium ML to be awarded in Tanzania

·    Commenced Electrical Submersible Pump ("ESP") operations at ITW-1 at the southern Rukwa Helium Project

·    First gas achieved in December 2025 from the Galactica Project, operated by our JV partner Blue Star Helium

·    Raised net proceeds of approximately £8.1 million through Investment Agreement and WRAP Retail Offer

·    Appointment of Nishant Dighe as Non- Executive Director

·    Sarah Cope appointed as an Executive Director and Head of Governance and Compliance

Post Balance sheet events:

In Tanzania, successful completion of ESP testing at ITW-1:

·    Produced the equivalent of more than 250,000 barrels ("bbl") of water over a testing period of 20 days, with flow rates of up to an equivalent of 16,400 barrels per day ("bpd") - a six-fold increase in flow rate, compared with natural flow during the 2024 Extended Well Test ("EWT")

·    Sustained helium concentrations of 5.4% (air corrected) with a maximum concentration of 9.2% (air corrected) at surface

At the Galactica Project in the USA, the operator has today reported;

·    Six wells now tied into the Pinon Canyon facility, including Jackson-2 and Jackson-4, completing Stage one of the Galactica development campaign

·    Facility transitioning to continuous 24/7 operations following completion of automation and system upgrades

·    First helium sales agreed at spot pricing for the initial tube trailer; second trailer expected on-site shortly

Outlook:

·    Formal process for the Strategic farmout to commence to identify and select a suitable industry partner for the continued development of the southern Rukwa Helium Project

·    At the Galactica Project, the Operator reports that CO₂ liquefaction remains on track for H1 2026, with Jackson-27 tie-in timed to coincide with commencement of CO₂ sales

·    The Operator reports strong market tailwinds for advancing discussions for long-term helium and CO₂ offtake

·    Infill wells at the Galactica Project are expected to provide additional revenue opportunities

James Smith, Chairman, commented:

"This has been a hugely significant period for the Company across both our projects.  We have further demonstrated the potential of the southern Rukwa Helium Project and are now pushing ahead seeking a strategic partner to assist with its future development; whilst, with our partner Blue Star, achieving first gas in the US.

The year ahead promises to be another major year for the Company as we look to further advance Tanzania towards development whilst increasing production and revenue by adding more tie-in wells in the US.

We look forward to providing appropriate updates on both our projects in due course on what the Board believe will be a pivotal year for the Company."

Lorna Blaisse, Chief Executive Officer, commented:

"The first half of the year has seen us progress both our projects significantly. 

In Tanzania, we were delighted to be awarded the ML and then successfully commence the ESP operational phase which subsequently further demonstrated the potential that we believed we had at the ITW-1 development; whilst the US saw us deliver the Company's first helium gas from the Pinon Canyon Plant in Colorado.

Looking forward, 2026 promises to be another busy year.  In the US we are planning to add to the production capacity we already have and at the same time build on the operational success that we have achieved in Tanzania, gain an industry partner and advance this project towards commercial development.

I would also like to take this opportunity to thank our shareholders, partners, and employees as well as the Ministry of Minerals and Mining Commission in Tanzania and the communities where we operate for their continued support and commitment as we look to further deliver our strategy and advance both our projects."

For further information please visit the Company's website: www.helium-one.com   

Helium One Global Ltd	[phone]
Lorna Blaisse, CEO Graham Jacobs, Finance and Commercial Director
Panmure Liberum Limited (Nominated Adviser and Joint Broker) Scott Mathieson Phoebe Bunce	[phone]
Zeus Capital Limited (Joint Broker) Simon Johnson Louisa Waddell	[phone]
Tavistock (Financial PR) Nick Elwes Saskia Sizen	[phone]

Notes to Editors

Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA. The Company holds helium licenses within two distinct helium project areas, across two continents and has the potential to become a strategic player in resolving a supply-constrained helium market.

The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania.  This project is advancing to a development stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an EWT, successfully flowed 5.5% helium continually to surface in Q3 2024.

Following the success of the EWT, the Company filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024 and the 480km² ML was formally awarded to the Company in July 2025.

The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL) and successfully completed a six well development drilling campaign in H1 2025. The completion of the development programme was a key component of the broader Galactica-Pegasus development strategy; aimed at progressing the helium and CO₂ discoveries to near-term commercial production.

This programme has seen a systematic approach to developing the extensive Lyons Formation reservoir. The programme has delivered encouraging results, in line with expectations, consistently encountering good helium (up to 3.3% He) and CO₂ concentrations in the target formation and demonstrating promising flow potential. The initial Galactica wells were tied into production in Q4 2025, with further wells coming onstream in 2026 for both helium and CO₂ production.

Chairman's Statement

Helium One Global Limited Interim Results for the Six Months Ended 31 December 2025

The first half of the financial year has been one of the most defining periods in Helium One's journey to-date. As we continue our transition from explorer to producer, the Company has delivered meaningful progress across both our Tanzanian and US operations. The period being reported was characterised by disciplined execution, strengthened operational capability, and the achievement of milestones that position Helium One for what the Board believe will be a transformational year for the Company.

A Year of Strategic Consolidation and Delivery

The six months to 31 December 2025 were shaped by our commitment to building a diversified, resilient helium business capable of supplying a market where demand continues to outpace reliable supply. Against this backdrop, our focus remained on two fronts: advancing our flagship Tanzanian assets towards development and supporting the operations of the Galactica‑Pegasus project in Colorado, where the Company holds a 50% working interest.

Progress in Tanzania - A Foundation for Long‑Term Growth

In July 2025, we announced the award of the mining licence ("ML") for the southern Rukwa Helium Project, a milestone that cannot be overstated. This licence is not only the first helium ML to be awarded in Tanzania but it is also one of the largest MLs ever awarded in the country, and provides the regulatory certainty required to progress toward future development planning and underscores the Tanzanian Government's continued support for helium as a strategic resource.

Southern Rukwa remains central to our long‑term growth ambitions. The licence award marks the transition from exploration to the early stages of development planning, and it provides a platform from which we can unlock the significant potential of this globally unique helium province.

Galactica‑Pegasus - Delivering on Our Near‑Term Production Strategy

The period also saw substantial progress at the Galactica‑Pegasus project in Colorado, operated by our joint‑venture partner Blue Star Helium.

Throughout September and October 2025, we reported a series of operational updates confirming that the project remained firmly on schedule for first gas by the end of 2025. Key achievements included:

·      Completion of site preparation and foundational civil works.

·      Securing all necessary construction permits and finalising contractor appointments.

·      Advancing the gathering system design, with installation scheduled to commence shortly thereafter.

These milestones reflected a project moving confidently from planning into execution, supported by strong operational oversight and a clear pathway to production; with successful first gas achieved on 22 December 2025.

Post‑Period Developments - A Transformational Step Forward

At the southern Rukwa Helium Project, we announced the commencement of our successful ESP operational phase at ITW-1.  The ESP testing programme represented an important operational milestone for Helium One and further demonstrated the production potential of the southern Rukwa Helium Project.

The testing delivered consistent and reliable operational performance, with ESP flow rates exceeding expectations and sustained helium concentrations in line with anticipated ranges. Whilst the gas water ratio was towards the lower end of the expected outcome range, the results provide valuable technical insight which supports the Company's understanding of the subsurface system.

Importantly, the operational success of this programme provides a strong foundation for the Company to progress discussions with potential industry partners and seek external investment to advance the project towards development. The Company is now commencing this process.

The Board looks forward to updating shareholders as the Company continues to advance the southern Rukwa Helium Project towards commercial development.

The achievement of first gas at the Galactica helium plan also marked the Company's transition from developer to early‑stage producer - a milestone that reflects years of technical work, partnership, and perseverance.

Commissioning activities at the Galactica Project continued through January and February 2026, with the facility expected to ramp up progressively as additional wells are brought online during the first half of 2026.

The amine unit at site has now been commissioned and the Operator has advised that the Pinon Canyon Plant has commenced integrated operations. Raw gas is now being processed through the amine unit to remove CO₂, with the resulting helium-enriched stream being refined through the HRU before being pumped into the tube trailer.

The Operator today reported successful completion of the installation and testing of wellsite equipment at the Jackson-4 and Jackson-2 wells. Both wells are now available for production and have been integrated into the Pinon Canyon facility gathering system bringing the total number of wells tied to the plant to six including Jackson-2, Jackson-4, Jackson-31, Jackson-29, State-9, and State-16.

The Operator further reported that the facility has been operating during daylight hours through a maintenance and optimisation phase and has intermittently produced gas into the onsite tube trailer during this period.  Following the completion of automation, maintenance and system upgrades, the Operator is transitioning to continuous 24/7 operations.

Negotiations are progressing with multiple parties for long-term helium and CO₂ supply contracts. The  strategy remains focused on a balanced mix of spot pricing and long-term contracts to maximize value as the Pinon Canyon Plant ramps up to full capacity.

These early operational steps represent the beginning of a new chapter for Helium One, one in which we expect to generate our first revenues and establish a commercial presence in the global helium market.

Financial Discipline and Strategic Focus

Throughout the period, the Board maintained a disciplined approach to capital allocation. Our investment decisions remained tightly aligned with our strategic priorities: advancing high‑impact assets, supporting near‑term production, and preserving balance‑sheet flexibility. This approach ensures that Helium One remains well positioned to deliver value as our projects mature.

During the period under review, the Company also raised a total of approximately £8.8 million gross (£8.1m net) to further advance both its helium projects in southern Rukwa, Tanzania and in Colorado, USA.

Looking Ahead

As we enter 2026, Helium One stands at an inflection point. The foundations laid over the past six months - and indeed over the past several years - are now translating into tangible operational outcomes.

Our priorities for the remainder of the financial year include:

·      Further evaluation of the ESP test at southern Rukwa Helium Project.

·      Formal launch of farmout process to identify and select a suitable industry partner for development of the southern Rukwa Helium Project.

·      Completing commissioning and ramp‑up at Galactica-Pegasus.

·      Advancing commercial discussions for helium and CO₂ offtake agreements at Galactica.

The Board remains confident in the Company's strategic direction and the quality and potential of its asset base. We are entering a period of significant opportunity, supported by a global helium market that continues to face structural supply constraints and look forward to delivering meaningful progress across our portfolio as we ramp up production in the USA whilst moving southern Rukwa towards development.

I would like to extend my sincere thanks to our shareholders, partners, and employees as well as the Ministry of Minerals and Mining Commission in Tanzania and the communities where we operate for their continued support and commitment. Together, we are building a company with the potential to play a meaningful role in securing future helium supply for critical industries worldwide.

James Smith

Chairman

26 March 2026

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	Notes	6 months to 31 December 2025 Unaudited	6 months to 31 December 2024 Unaudited
		$	$
Continuing operations
Revenue		-	-
Administration expenses	4	(1,716,085)	(1,971,822)
Operating loss		(1,716,085)	(1,971,822)
Finance income		47,815	43,926
Loss for the period before taxation		(1,668,270)	(1,927,896)
Taxation		-	-
Loss for the period from continuing operations (attributable to the equity holders of the parent)		(1,668,270)	(1,927,896)
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations		2,577,881	112,150
Total comprehensive profit/(loss) for the period (attributable to the equity holders of the parent)		909,611	(1,815,746)
Attributable to:
Owners of the parent		911,806	(1,815,746)
Non-controlling interests		(2,195)	-
		909,611	(1,815,746)
Earnings per share:
Basic and diluted earnings per share (cents)	5	(0.02)c	(0.03)c

CONDENSED CONSOLIDATED BALANCE SHEET

		As at	As at	As at
		31 December 2025 Unaudited	30 June 2025 Audited	31 December 2024 Unaudited
		$	$	$
	Notes
ASSETS
Non-current assets
Intangible assets	7	55,602,322	45,700,237	39,192,682
Property, plant & equipment	9	4,180,354	2,585,942	3,037,838
Other receivables		1,704,964	1,334,413	1,524,136
Total non-current assets		61,487,640	49,620,592	43,754,656
Current assets
Trade and other receivables		188,283	1,119,942	1,198,997
Cash and cash equivalents		5,115,452	3,152,755	10,021,699
Total current assets		5,303,735	4,272,697	11,220,696
Total assets		66,791,375	53,893,289	54,975,352
LIABILITIES
Current liabilities
Trade and other payables		1,259,577	690,442	371,807
Total liabilities		1,259,577	690,442	371,807
Net assets		65,531,798	53,202,847	54,603,545
EQUITY
Share premium	8	104,211,115	93,326,452	93,305,620
Other reserves		7,081,705	3,969,147	1,985,432
Retained earnings		(45,758,827)	(44,092,752)	(40,687,507)
Non-controlling Interest		(2,195)	-	-
Total equity		65,531,798	53,202,847	54,603,545

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY

	Share premium	Other reserves	Retained earnings	Non-Controlling Interest	Total equity
	$	$	$	$	$
Balance as at 1 July 2024	85,130,910	1,099,797	(38,759,611)	-	47,471,097
Comprehensive income
Loss for the period	-	-	(1,927,896)	-	(1,927,896)
Currency translation differences	-	112,150	-	-	112,150
Total comprehensive loss for the period	-	112,150	(1,927,896)	-	(1,815,746)
Transactions with owners recognised directly in equity
Share based payments	-	773,485	-	-	773,485
Shares issued for services	236,863	-	-	-	236,863
Issue of shares	8,448,669	-	-	-	8,448,669
Cost of share issue	510,822)	-	-	-	(510,822)
Total transactions with owners	8,174,710	773,485	-	-	8,948,194
Balance as at 31 December 2024 (unaudited)	93,305,620	1,985,432	(40,687,507)	-	54,603,545
Comprehensive income
Loss for the period	-	-	(3,571,788)	-	(3,571,788)
Currency translation differences	-	530,128	-	-	530,128
Total comprehensive income for the period	-	530,128	(3,571,788)	-	(3,041,660)
Transactions with owners recognised directly in equity
Adjustment In respect of prior year depreciation capitalised	-	-	279,959	-	279,959
Issue of shares	14,818	-	-	-	14,818
Adjustment in respect of prior year share issue cost	6,014	-	-	-	6,014
Expiry of options during the period	-	(128,029)	128,029	-	-
Revaluation of prior year options	-	241,445	(241,445)	-	-
Share based payments	-	1,340,171	-	-	1,340,171
Cost of share issue	-	-	-	-	-
Expiry of share options	-	-	-	-	-
Total transactions with owners	20,832	1,453,587	166,543	-	1,640,962
Balance as at 30 June 2025 (audited)	93,326,452	3,969,147	(44,092,752)	-	53,202,846
Comprehensive income
Loss for the period	-	-	(1,666,075)	(2,195)	(1,668,270)
Currency translation differences	-	2,577,881	-	-	2,577,881
Total comprehensive loss for the period	-	2,577,881	(1,666,075)	(2,195)	909,611
Transactions with owners recognised directly in equity
Share based payments	-	534,677	-	-	534,677
Issue of shares	11,926,560	-	-	-	11,926,560
Cost of share issue	(1,041,896)	-	-	-	(1,041,896)
Total transactions with owners	10,884,663	534,677	-	-	11,419,340
Balance as at 31 December 2025 (unaudited)	104,211,115	7,081,705	(45,758,827)	(2,195)	65,531,798

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

		6 months to 31 December 2025 Unaudited	6 months to 31 December 2024 Unaudited
	Notes	$	$
Cash flows from operating activities
Loss before taxation		(1,668,270)	(1,927,896)
Adjustments for:
Depreciation & amortisation		14,450	226,968
Depreciation capitalised to exploration		(278,501)	-
Shares issued for services		-	236,863
Share based payments		534,677	773,485
Net finance income		(47,815)	(43,926)
Decrease/ (increase) in trade and other receivables		561,107	(11,595)
(Decrease)/ increase in trade and other payables		569,134	(1,212,760)
Foreign Exchange		137,279	60,673
Net cash used in operating activities		(117,938)	(1,898,188)
Cash flows from investing activities
Purchase of Plant & Equipment		(1,608,862)	(298,092)
Expenditure on intangible assets	7	(6,446,993)	(7,462,993)
Net cash used in investing activities		(11,232,446)	(7,761,085)
Cash flows from financing activities
Interest received on funds invested		47,815	43,296
Proceeds from the issue of shares		11,926,560	8,448,669
Cost of share issue		(1,041,896)	(510,822)
Net cash generated from financing activities		10,932,479	7,981,773
Net decrease in cash and cash equivalents		(477,905)	(1,677,500)
Cash and cash equivalents at beginning of period		3,152,755	11,647,723
Exchange movement on cash		(735,989)	51,477
Cash and cash equivalents at end of period		5,115,452	10,021,699

NOTES TO THE INTERIM FINANCIAL STATEMENTS

1. General Information

The principal activity of Helium One Global Limited (the 'Company') and its subsidiaries (together the 'Group') is the exploration and development of helium gas resources. The Company is incorporated and domiciled in the British Virgin Islands. The address of its registered office is 171 Main Street, PO Box 92, Road Town, Tortola, British Virgin Islands, VG110. The Company's shares are listed on the AIM Market of the London Stock Exchange ('AIM') and the Frankfurt Stock.

2. Basis of Preparation

The condensed consolidated interim financial statements have been prepared in accordance with the requirements of the AIM Rules for Companies. As an AIM listed Company, the company is entitled to exemption from adopting IAS 34 and this exemption has been taken to the effect that segment information is not disclosed. The condensed consolidated interim financial statements should be read in conjunction with the annual financial statements for the year ended 30 June 2025. The interim consolidated financial statements have been prepared in accordance International Financial Reporting Standards (IFRS) and IFRS Interpretations Committee (IFRS IC) interpretations as adopted by the European Union applicable to companies under IFRS and in accordance with AIM Rules, which have not differed from the previously EU-endorsed IFRS, and hence the previously reported accounting policies still apply. The financial statements are prepared on the historical cost basis or the fair value basis where the fair valuing of relevant assets or liabilities has been applied. The interim report has not been audited or reviewed by the Company's auditor.

Critical Accounting Estimates

The preparation of condensed consolidated interim financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Changes in accounting estimates may be necessary if there are changes in the circumstances on which the estimate was based, or as a result of new information or more experience. Such changes are recognised in the period in which the estimate is revised. Significant items subject to such estimates are set out in Note 4 of the Company's 2025 Annual Report and Financial Statements. The nature and amounts of such estimates have not changed significantly during the interim period.

Risks and Uncertainties

The Board continuously assesses and monitors the key risks of the business. The key risks that could affect the Company's medium term performance and the factors that mitigate those risks have not substantially changed from those set out in the Company's 2025 Annual Report and Financial Statements, a copy of which is available on the Company's website: www.helium-one.com. The key financial risks are liquidity risk, credit risk, interest rate risk and fair value estimation.

The consolidated Financial Statements have been prepared on the going concern basis. The Directors have taken into account all relevant available information about the current and future position of the Group, including current level of resources and the required level of spending on exploration and evaluation activities. The Group meets its working capital requirements from its cash and cash equivalents.

The Condensed interim financial statements were approved by the Board of Directors on 23 March 2026.

3. Accounting Policies

The accounting policies adopted are consistent with those used in the preparation of the Company's 2025 Annual Report and Financial Statements and corresponding interim reporting period.  There were no new or amended accounting standards that required the Group to change its accounting policies.  The directors also considered the impact of standards issued but not yet applied by the Group and do not consider that there will be a material impact of transition on the financial statements.

Interest in Joint Arrangements

The Group has a non-controlling interest arising from a minority shareholding in Songwe Helium Limited which is incorporated in Tanzania. As at 31 December 2025, a 17% interest in Songwe Helium Limited is held by the Treasury Registrar of Tanzania, an entity that is not part of the consolidated Group. The remaining 83% is owned by East Africa Holdings which is a wholly owned subsidiary of the Group. Shongwe Helium Tanzia exercises standard minority shareholder rights only and does not have the ability to direct the relevant activities of the subsidiary.

Management has assessed that the Parent retains control over Shongwe Helium Tanzania because it:

·    Owns the majority voting interest

·    Has the current ability to direct relevant operational and financial activities, and

·    Is exposed to the majority of variable returns.

Accordingly, Shongwe Helium Tanzania is fully consolidated, and the interest held by the Treasury Registrar on Tanzania is recognised as a non-controlling interest.

Costs incurred in connection with this transaction will be capitalised in accordance with IFRS 6, "Exploration for and Evaluation of Mineral Resources," and will be amortised upon commencement of helium production which is expected to commence in the first half of 2026.

4. Expenses by nature breakdown

	6 months to 31 December 2025 Unaudited	6 months to 31 December 2024 Unaudited
	$	$
Depreciation	14,450	226,968
Wages and salaries (including Directors' fees)	385,428	257,733
Professional & Consulting fees	442,162	462,438
Insurance	79,822	50,993
Office expenses	81,690	93,340
Share option expense	534,677	773,485
Travel and subsistence expenses	19,969	19,042
Foreign currency loss	137,279	60,673
Other expenses	20,606	27,150
	1,716,085	1,971,822

5. Loss per share

The calculation for earnings per share (basic and diluted) is based on the consolidated loss attributable to the equity shareholders of the Company is as follows:

		6 months to 31 December 2025 Unaudited	6 months to 31 December 2024 Unaudited
		$	$
Loss attributable to equity shareholders		(1,688,270)	(1,927,896)
Weighted average number of Ordinary Shares		7,884,047,146	5,709,041,759
Loss per Ordinary Share ($/cents)		(0.02)	(0.03)

Earnings and diluted loss per share have been calculated by dividing the loss attributable to equity holders of the company after taxation by the weighted average number of shares in issue during the year. Diluted share loss per share has not been calculated as the options, warrants and loan notes have no dilutive effect given the loss arising in the period.

6. Dividends

No dividend has been declared or paid by the Company during the six months ended 31 December 2025 (2024: $nil).

7. Intangible assets

Exploration & Evaluation at Cost and Net Book Value			$
Balance as at 1 July 2024			31,729,689
Additions to exploration assets			6,452,543
Capitalised Directors' fees and employee wages			444,229
Capitalised other expenses			329,358
Additions - equity settled			236,863
As at 31 December 2024 (Unaudited)			39,192,682
Additions to exploration assets			6,363,296
Capitalised Directors' fees and employee wages			668,130
Capitalised other expenses			271,783
Additions - equity settled			11,125
Capitalised depreciation			680,027
Total additions			7,994,361
Impairments			(1,486,806)
As at 30 June 2025 (Audited)			45,700,237
Additions to exploration assets			5,950,878
Capitalised Directors' fees and employee wages			466,155
Capitalised other expenses			29,958
Capitalised depreciation			278,501
Exchange rate variances			3,176,591
Total Additions			9,902,084
As at 31 December 2025 (Unaudited)			55,602,321

Intangible assets comprise exploration and evaluation costs which arise from both acquired and internally generated assets.

In accordance with IFRS 6, the Directors reached a decision to impair all costs associated with the Eyasi and Balangida areas. Impairments of $1,486,806 were incurred in the financial year end 30 June 2025. This reflects the fact that the Group's focus is currently on the southern Rukwa Helium Project area over which the Mining Licence has been received.

8. Share premium

	Number of shares	Ordinary shares	Total
		$	$
As at 31 December 2024	5,921,426,896	97,882,501	97,882,501
Share Issue costs	-	(4,576,881)	(4,576,881)
	5,921,426,896	93,305,620	93,305,620
Adjustment to prior year
Share issue costs		6,014
Revised December 2024	5,921,426,896	97,882,501	97,882,501
Revised Share issue costs		(4,570,867)	(4,570,867)
	5,921,426,896	93,326,452	93,326,452
Issue of new shares (EBT)	296,138,418	-	-
Issue of new shares	1,341,463	14,818	14,818
As at 30 June 2025	6,218,906,777	97,882,501	97882,501
Share Issue costs		(4,556,049)	(4,556,049)
	6,218,906,777	93,326,452	93,326,452
Issue of new shares - 30 August 2025	795,619,859	5,029,804	5,029,804
Issue of new shares - 25 September 2025	702,127,658	2,201,007	2,201,007
Issue of new shares - 8 October 2025	1,605,504,587	4,695,749	4,695,749
Share issue costs	-	(1,041,896)	(1,041,896)
As at 31 December 2025	9,322,158,881	109,820,816	109,820,816
Share Issue costs		(5,609,701)	(5,609,701)
	9,322,158,881	104,211,115	104,211,115

A historic adjustment resulted in additional share issue costs in the previous interim period.

9. Fixed Assets

The main additions to fixed assets have occurred in Northcote Holdings Limited as a result of the acquisition of plant for the Galactica Project.

 

END