SASKATOON, SK, June 21, 2024 /CNW/ - Royal Helium Ltd. (TSXV: RHC) (TSXV: RHC.WT.A) (TSXV: RHC.WT.B) (OTCQB: RHCCF) ("Royal" or the "Company") reports further to news releases of May 31st and June 17th, 2024, that the 12th and 13th helium trailer sales took place this week from Royal's Steveville helium purification facility, located near Brooks, Alberta. The Company continues to ramp up production at the Steveville purification facility towards nameplate capacity of 15 million cubic feet of raw gas per day.
Andrew Davidson, CEO, comments, "We are pleased to have the Steveville helium purification plant running at a stable production rate and seeing the entire team getting the plant to its final stages of ramping up to capacity with world class oversight by PTT. The plant is designed to be fully automated and self-powered such that once at steady state, the operation can quickly turn toward positive cash flow with very low operating expense."
Royal also announced that granting of 5,000,000 incentive stock options to a consultant. The options are exercisable at a price of $0.085 per share, vest evenly over a term of six months and, subject to earlier expiration provisions, expire in three years.
Royal is an exploration, production, and infrastructure company with a primary focus on the development and production of helium and associated gases. The Company controls over 1,000,000 acres of 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Royal Helium Ltd.
For more information, please contact the Company: Spiro Kletas, VP Investor Relations, 1 (306) 500-9397, [email protected]; Dean Nawata, Business Development, 1(306) 500-9420, [email protected]
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