- Royal Helium (RHC) has received a complete resource assessment from an independent third-party firm
- The Competent Person’s Report provides an independent resources assessment and evaluation of the company’s material helium assets to date
- The report is a requirement for the company’s proposed listing on the London Stock Exchange
- Royal Helium is up 1.45 percent, trading at $0.35 at 1:01 pm ET
Royal Helium (RHC) has received a complete resource assessment from an independent third-party firm.
The Competent Person’s Report provides an independent resources assessment and evaluation of the Saskatoon-based company’s material helium assets to date.
The report is a requirement for the company’s proposed listing on the London Stock Exchange.
The company also intends to obtain reports on its Climax conventional, Ogema and Val Marie wells once additional work and testing data are compiled.
“We are pleased to receive this independent third-party evaluation from GLJ Ltd. In addition to being a regulatory requirement as part of the Company’s proposed listing on AIM, for us, it affirms initial resources and economics that substantiate our first off-take sales agreement with a minimum delivery to our off-take partner of approximately 40 percent of the Steveville plant capacity,” said President and CEO Andrew Davidson.
“As for Nazare, a P50 at 114 metres of pay thickness, 1.298 billion cubic feet of helium is extraordinary considering it is still constrained to 27 square kilometres with a limited 3D seismic area. We look to drill our first horizontal well into Nazare between Q4 2022 and Q1 2023. Additionally, we have only explored 6 percent of the Climax land block with an additional 10 conventional targets in our near-term drill plans.”
Royal controls over 1,000,000 acres of prospective helium land across southern Saskatchewan and southeastern Alberta.
Royal Helium is up 1.45 percent, trading at $0.35 at 1:01 pm ET.
