Imperial Helium Corp` V.IHC

IHC-Steveville-1 Production testing

[DrTendieman]

Production testing started on the 19th of August. IHC had earlier estimated that production testing would take about 6 weeks and a third party resource assessment would follow soon after. It has now been 7 weeks since the start and there has been no announcement of the results.

The Steveville structure contains 0.6% of helium and there is virtually no doubt of the gas composition since it has been confirmed by numerous earlier wells. If bad news were to be released, they would probably concern the potential production rates. My guess is that the Company has simply fallen behind on schedule by a couple of days and we'll get the results soon.

Just a reminder that IHC's current market cap is $17.6M and the latest financial statement showed the Company has $11M in cash alone.