Royal Helium Ltd (TSX-V:RHC, OTCQB:RHCCF) has announced that the initial modules of the Steveville Helium Processing Facility have started shipping to the Steveville, Alberta site.
The helium projects developer said the site preparation for the first two modules has been completed, with the balance of the preparations to be done by the end of the week, while the remainder of the modules will be shipped over the next several weeks.
“This is a significant milestone for the company as we approach first production,” Royal Helium CEO Andrew Davidson said in a statement.
Royal Helium noted that it will continue to provide updates as the shipping and installation continue.
The Steveville plant is designed to process 15 million cubic feet per day (mcf) of raw gas fed by the two 100% owned helium wells at Steveville, Alberta and produce 22,000 mcf of 99.999% helium per year, according to the company.
Royal Helium added that the plant will also produce enough fuel gas to power the plant and up to 22 million pounds of commercial carbon dioxide, which provides a potentially significant secondary cash flow stream to the company.
Royal Helium controls over one million acres of prospective helium land across southern Saskatchewan and southeastern Alberta. All of Royal's lands are in close vicinity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land near existing helium-producing locations. The firm intends to become a leading North American producer of the high-value commodity.
Contact Sean at sean@proactiveinvestors.com