Noble Helium Ltd

Noble Helium Limited is an Australia-based company, which is engaged in the exploration for new sources of helium in the United Republic of Tanzania. The Company's projects include North Rukwa Helium Project, North Nyasa Project, Eyasi Basin and Manyara Basin. The North Rukwa Project is the Company's flagship project located in the Rukwa Basin in southwest Tanzania, which comprises approximately twelve granted prospecting licenses (PL) covering a combined area of over 1,467 square kilometers (km2). The North Nyasa Project holds two Prospecting Licences (PL) totaling over 466 km2 in the North Basin of the Nyasa (Malawi) Rift area. The Eyasi and Manyara Projects have approximately five PL, covering over 1,138 km2 in the Eyasi Basin and four PLs applications, covering over 855 km2 in the Manyara Basin, both located in central northern Tanzania.

• Feedstock spread (price - input cost) (leading)
• Plant utilization rate (coincident)
• End-market demand (auto, construction, agri) (leading)
• Inventory destocking/restocking cycles (coincident)
• Specialty volume growth (trend)

• Energy/feedstock cost (Russia gas, Middle East oil) · exposure: high
• Trade tariffs on chemical exports/imports · exposure: medium-high
• Environmental regulation (EU REACH, US EPA) · exposure: high
• Agricultural policy (subsidies, fertilizer demand) · exposure: medium for agri-chem

• EBITDA margin % — 5-15% commodity; 15-25% specialty
• Capex/sales % — watch trough vs peak
• Plant utilization % — 82-92% healthy; <80% pressure
• ROIC — 10%+ specialty; 6-10% commodity through cycle
• Net debt / EBITDA — below 3.0x healthy; cyclical buffer

Detailed financial analysis, valuation snapshot, multi-period history, and AI narrative are pending — generated when this company is included in the next analysis batch. Profile data above is point-in-time as of 2026-04-30.