RHC CEO on Proactive Regarding Upcoming Development Agenda
With last weeks completion of a $6M bought deal offering to fuel expansion and well development, Royal Helium (RHC.v RHCCF) joined Proactive to discuss the company's upcoming exploration and development agenda:
https://www.youtube.com/watch?v=3t0KQCVBgKU RHC's CEO, Andrew Davidson detailed the company's two-fold agenda that the proceeds will be allocated toward, including the drilling of potential new wells at the company’s 40-mile site in Alberta and enhancing the development of existing wells in Saskatchewan.
Furthermore, the proceeds bolster operational scaling and improve working capital to facilitate and continue wrapping up RHC's ongoing progress toward self-funding from its operational outputs at Steveville.
Significantly, this substantial injection of capital supports RHC's multi-asset focus as it enables the company to not miss out on a prime exploration season as it's additional assets, thus maintaining momentum in its growth and development strategy.
This has been seen already in RHC beginning licensing and permitting for the Forty Mile #1 exploratory helium well at the Forty Mile Project in Southeastern Alberta.
Comprised of 7,000 acres, Forty Mile is host to one historic well whose results rival the best Cambrian helium discovery wells to date in Alberta, Saskatchewan and Montana. Having defined drill targets across multiple prospective horizons, RHC will be announcing the spud date once licensing is complete and a drilling rig is secured.
Posted on Behalf of Royal Helium Ltd.