Overview
Zeus has acted as Joint Broker to Rift Helium plc (RIFT) on its Initial Public Offering (IPO) and admission to AIM, raising gross proceeds of £8.1m. The market capitalisation on admission will be £13.4m.
Company information
Rift Helium offers investors direct exposure to primary helium exploration in the Rukwa basin, Tanzania, where adjacent discoveries and drilling activity have helped validate a working helium system and materially reduce basin risk.
The independent CPR prepared by NSAI indicates significant prospective helium resource potential including a gross unrisked P50 estimate of approximately 19 Bcf helium and a mean estimate of approximately 41 Bcf helium.
Charlie Fitzroy
CEO, Rift Helium plc“Admission marks the start of Rift’s next phase as we begin deploying the proceeds of the Company’s successful IPO fundraise against a clear and focused strategy. With recent disruption in Qatar, which normally accounts for close to one-third of global helium supply, and new Russian export controls adding further uncertainty to the market, Rift is entering the public market against a highly favourable backdrop for new primary helium supply.”
Simon Johnson
Director, Corporate Broking“Zeus is delighted to have acted for Rift in bringing the Company to AIM. The funds raised will be deployed across near term catalysts including EIA approval, 3D seismic and the drilling of two wells.”
Contact
If you would like further information, please get in touch with our team.
This web page constitutes a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and has been approved by Zeus Capital Limited, which is authorised and regulated by the Financial Conduct Authority.