RHC is a 'tremendous gain for the whole province' "It's clear that Royal Helium is a tremendous gain for the whole province and it's really the start of a new era for Alberta,"
- Premier Danielle Smith on the opening of Royal Helium's (RHC.v RHCCF) helium purification facility (Source: https://calgary.ctvnews.ca/mobile/premier-smith-on-hand-to-launch-helium-purification-facility-north-of-brooks-alta-1.6690426?cache=fbvfbdkpstrm?clipId=89830)
This is the first helium purification facility of its size in North America and it boasts "an ultra-low operating cost due to it being self-powered by fuel gas co-produced from the two helium wells.”
The plant produces 22 million cubic feet of helium, 20 million pounds of food-grade CO2 and 2,920 barrels of condensate per year. Plus, an off-take agreement was signed with a major customer from the aerospace and defense industry for all of the helium produced in the plant.
As the first Canadian public company to produce and sell helium (directly to a large end user at a contracted fixed price) from its innovative plant, RHC is playing a market-changing role in the field of helium production as it controls over one million acres of prospective helium permits and leases across Saskatchewan and Alberta.
In addition to Steveville, RHC has entered into a letter of intent for a $25M joint venture with Sparrow Hawk to develop the Val Marie project in Saskatchewan. If ratified, this will provide a big leap as the cash investment into one of RHC's six near-term projects exceeds the entire market cap of RHC (including the already producing/selling of helium from Steveville).
With plans to significantly enhance its existing fields and initiate new projects, RHC's key activities in 2024 include completing and testing wells in the Val Marie, Ogema and Steveville properties alongside commencing new drilling operations at the 40 Mile Project which has shown promising preliminary results with high-helium concentrations.
For more information, check out this video with RHC's CEO, Andrew Davidson discussing the company's position to be a leading North American producer of this increasingly high value commodity: https://www.youtube.com/watch?v=AYwFI6lbm2w
Posted on Behalf of Royal Helium Ltd.