HeLIX Exploration PLC (AIM:HEX) chief executive Bo Sears told investors that Rudyard could be the largest helium project in the state of Montana, as the AIM-quoted firm completed the acquisition of a processing plant.
The company, in a statement, said the acquisition of the Xebec Pressure Swing Adsorption (PSA) processing plant was now complete, for $500,000, moving the Rudyard project closer to production.
“The plant is in excellent condition, requiring only minor work to bring it to operational readiness,” Sears said in a statement.
“With the plant site identified, we anticipate the PSA plant will be ready for installation at Rudyard in Q2 2025.”
He added: “Results from Darwin #1 indicate that the anticline at Rudyard surpasses our expectations and is larger than previously modelled.
“This could represent the largest producing helium structure in the State of Montana.
“We look forward to an exciting quarter for Helix Exploration as we continue to create value for shareholders and advance Rudyard towards production and early cash flow."