SASKATOON, SK, May 31, 2024 /CNW/ - Royal Helium Ltd. (TSXV: RHC) (TSXV: RHC.WT.A) (TSXV: RHC.WT.B) (OTCQB: RHCCF) ("Royal" or the "Company") is pleased to report that it has now shipped both the 10th and 11th purified helium trailers from the Steveville helium purification facility, located near Brooks, Alberta. The Steveville facility continues to ramp up capacity and is experiencing both growth in throughput rate and more consistency in run-time. On the inlet side, the production zones of the reservoir are flowing as projected with helium concentrations meeting or exceeding original expectations.
Over the course of the past three weeks, the Company has achieved stable production at 50% of nameplate capacity with periodic increases up to 75% of nameplate capacity. Stable production at 50% of nameplate amounts to approximate sales of four trailers per month, representing a 100% increase from prior levels. Once the plant is at capacity, it is expected to produce between seven and eight trailers of purified helium per month.
Andrew Davidson, CEO, comments, "We are pleased with the progress being made at Steveville by the teams of engineers, electrical and instrumentation technicians, and programmers we have working at site. With the number of adjustments lessening as we approach run rate, we look forward to achieving the full economic potential of the facility."
About Royal Helium Ltd.
Royal Helium is a production, infrastructure, and exploration company with a primary focus on the development of helium and associated gases. The Company's extensive footprint includes prospective helium permits and leases across southern Saskatchewan and southeastern Alberta. Given the current and foreseeable global undersupplied nature of this critical and non-renewable product, Royal is well positioned to be a leading North American producer of this increasingly high value commodity.
Royal's helium reservoirs are carried primarily with nitrogen. Nitrogen is not considered a greenhouse gas (GHG) and therefore the plant has a low GHG footprint when compared to plants in other jurisdictions that rely on large scale natural gas production for helium extraction. Helium extracted from wells in Saskatchewan and Alberta can be up to 90% less carbon intensive than helium extraction processes in other jurisdictions.
Andrew Davidson
Chief Executive Officer
Royal Helium Ltd.
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SOURCE Royal Helium Ltd.
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