Royal Helium Begins Start-Up Of Helium Processing Facility

Royal Helium (TSXV: RHC) has completed a major milestone with the completion of commissioning of the Steveville helium purification facility.

Start-up is now said to be underway for the plant, which has been designed to process 15,000 mcf per day of raw gas. The facility will be fed gas from two helium wells wholly owned by Royal in the region, which currently have an output capacity of 22,000 mcf of helium a year. Notably, the facility is self-powered by fuel gas co-produced at the helium wells, resulting in an ultra low operating cost.

“Only a few short years after we first began drilling our helium wells and 12 months of design, fabrication, and construction of the Steveville plant, we are now pleased to announce start up following the successful completion of the assembly and commissioning phases. Following a successful start-up, Royal will begin ramping up towards full commercial production, making Royal the first publicly listed helium producer operating in Canada,” commented CEO Andrew Davidson.

READ: Royal Helium Secures Second Offtake Deal, To Raise $7.0 Million Via Convertible Debt

With production ramping, the facility is expected to fully deliver on three year purchase commitments entered into by the company under two off-take agreements. Those contracts will see the sale of helium at an average price of US$538 per mcf of helium.

Royal Helium last traded at $0.315 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

First Majestic Posts Record Quarterly Silver Production In Q3

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

Related News

Royal Helium Secures Second Offtake Deal, To Raise $7.0 Million Via Convertible Debt

Royal Helium (TSXV: RHC) has secured a second offtake agreement for its Steveville helium processing...

Friday, June 2, 2023, 08:34:21 AM

Royal Helium Drills First Of Three Helium Wells

Royal Helium (TSXV: RHC) this morning issued a brief press release, identifying that it has...

Tuesday, January 26, 2021, 09:16:55 AM

Royal Helium Said To Secure Helium Supply Agreement With Major Space Company

Royal Helium (TSXV: RHC) has apparently signed on to a major supply agreement, the details...

Monday, August 29, 2022, 08:57:42 AM

Royal Helium Receives Approval For Purchase Of Imperial Helium

Royal Helium (TSXV: RHC) is set to grow its holdings considerably over the course of...

Wednesday, July 13, 2022, 08:10:55 AM

Helium: The High Level Overview

The very hot market for helium stocks welcomes a newly listed company for investors to...

Monday, May 24, 2021, 09:00:00 AM