StockBox speaks with Nick Tulloch, CEO of Mendell Helium, following the company’s £5 million fundraise and completion of the M3 helium option. Mendell Helium plc has secured £5 million in fresh capital through a placing and subscription of 125 million new shares at 4p each, strengthening its balance sheet as it advances its US expansion strategy.
In parallel, the company has exercised its option to acquire M3 Helium Corp., with the transaction subject to shareholder approval.
The newly raised funds will be deployed to accelerate development at the Fort Dodge project, including the drilling of four additional wells and the construction of a second helium purification plant, both targeted for 2026. The asset is estimated to contain prospective helium resources ranging from 2.12 billion cubic feet (P90) to 9.78 billion cubic feet (P10), indicating significant upside potential.
Key Discussion Topics
- £5m strategic fundraise explained
- Rost well production performance
- Rost 2 drilling and dewatering progress
- Helium pricing and global supply shortages
- Path to cash flow and dividend ambitions
- AIM market listing update
- Expansion plans across Fort Dodge
Looking ahead, Mendell Helium has signalled an intention to initiate dividend payments from 2027, contingent on successful project execution and cash flow generation. The company has also received notice of warrant exercises, generating a further £25,000 in cash.
Overall, the update reflects a transition toward scaled development and potential future cash returns, supported by a strengthened funding position.
