Noble Helium Postpones Tanzania Drilling Program, Shares Decline 19%

MT Newswires Live

01/23

Noble Helium (ASX:NHE) said its board decided to postpone its western margin shallow drilling program in Tanzania, based on the recommendation of its cofounder and technical director Justyn Wood, according to a Thursday Australian bourse filing.

The firm plans to restart the program after the current rainy season.

Short-term weather forecasts are predicting increasing rain events and current access between Kinambo and Mbelele in Tanzania is restricted, the filing said.

It added that the rig remains available to mobilize once conditions allow.

The firm's shares declined 19% in recent trading on Thursday.

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