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Another report from Pulsar Helium shows the potential resource is not just absurdly high in concentration but in the overall amount as well.
The report by Sproule International showed:
• A 44% increase to the previous helium contingent best estimate gross recoverable resource.
• A 12,165% increase to the helium prospective best estimate gross recoverable resource.
• The resource acreage covered in the 2024 Sproule Report only represents approximately 13% of the company’s gross land position that it has under lease and exclusive option.
Thomas Abraham-James, President and CEO of Pulsar, said the positive estimations received are “hugely encouraging” ahead of further exploration, which the company has scheduled for later this year.
“Data indicates that the well penetrated only the top of the helium-bearing fracture zone, which is likely to persist for a further 1,650ft (500m) vertical depth. Therefore, deepening of the Jetstream #1 well, scheduled for Q4 2024, is likely to have a significant impact on the next iteration of the resource estimation,” said Abraham-James.
“We have made great progress in our first year as a listed entity and intend to build on this success and realize Topaz’s full potential.” The report also showed a massive resource of CO2 that could be recovered from the gas deposit.
Pulsar also announced its intention to apply for the admission to trading of the company’s common shares on AIM, with a target admission date before the end of October 2024. The AIM IPO is supplementary to the company’s existing listing on the TSX Venture Exchange in Canada.
The company believes the AIM IPO will enhance its access to UK and European based investors, and will raise approximately five million pounds.
Due to an ongoing shortage of CO2 in the USA, with bulk CO2 purchases increasing up to $32 per thousand cubic feet, it has the potential to be valuable by-product of Pulsar’s helium production.
